Principal Financial Group® Migrates to the FINEOS Platform to Deliver Advanced Digital Capability
The cloud-based FINEOS Platform will enable the carrier to streamline their customer experience and adapt to changing customer expectations.
FINEOS Corporation, a leading core system provider for the global life, accident and health insurance industry, today announced that Principal Financial Group® will be migrating from their on-premise FINEOS Claims system to the cloud-based FINEOS Platform. Set to begin in 2021, the upgrade to the cloud allows Principal to benefit from the security, scalability and efficiency delivered by the FINEOS Platform.
“FINEOS is a service focused partner with a shared commitment to the employee benefits market. Migrating FINEOS Claims to the cloud-based FINEOS Platform will allow us to deliver a faster and more streamlined customer experience through their innovative, agile system,” said Cheryl Paine, AVP of specialty benefits claims at Principal®. “Not only will this help us get benefit payments to customers even more timely but also will position us to adapt more quickly to evolving customer expectations.”
The FINEOS Platform provides core administration capabilities including absence management, billing, claims, payments, policy administration, provider management and new business and underwriting; all of which are configurable to operate independently or optimally as FINEOS AdminSuite, an end-to-end core administration suite. The FINEOS Platform also provides a wide range of APIs to enable digital engagement and connectivity; and real-time analytics that utilize core system data to enable business insights and automation.
“We’re thrilled to do this migration to the FINEOS Platform with Principal Financial Group. They have been a service partner since 2005 and we look forward to seeing the positive impact this migration will have on their customers’ satisfaction. The migration will enable Principal to take advantage of the FINEOS APIs to drive digital engagement, open connectivity, and a better overall digital client experience.” said Michael Kelly, FINEOS CEO. “Today’s group insurance carriers stand to benefit greatly from modern core systems with robust digital capabilities that add value to their products and allow them to keep up with rapidly changing employee expectations.”
For more information on the FINEOS Platform please visit www.FINEOS.com/platform.