New deal will enable the carrier to leverage SaaS technology for simplified processes and improved customer service
FINEOS Corporation, a leading provider of core systems for life, accident and health insurers globally, and Beneva, the largest mutual insurance company in Canada, have jointly announced a partnership agreement for Beneva to use the FINEOS Platform as its Group Benefits claims management solution for Disability, Life, AD&D, and Critical Illness. Beneva was created in July 2020 by La Capitale and SSQ Insurance joining forces.
“Looking to the future success of our organization, we need a modern, agile Group claims management system for Life & Disability benefits that will allow us to provide the very best service and online tools for our plan sponsors and customers,” said Eric Trudel, Executive Vice-President and Lead – Group Insurance at Beneva. “We’ve selected the FINEOS Platform as a long-term solution to simplify our business processes, yield faster turnaround times, and improve our customers’ digital experience. Also, the platform will allow us to provide our health continuum concept that goes from prevention, well-being though disability management and rehabilitation and return to work.”
Beneva will deploy the FINEOS Platform across their group insurance coverages, including Disability, Life, Critical Illness, and Accidental Death & Dismemberment, providing their staff with a unified view of the customer across all types of claims.
The FINEOS Platform is the leading claims processing software for the Life, Accident and Health insurance industry. Used globally by over 60 insurance organizations, the FINEOS tracking software supports both group and individual claims on a single SaaS platform.
“We’re very excited about this new partnership with Beneva and look forward to supporting them in achieving their digital transformation goals,” says Michael Kelly, FINEOS CEO. “By leveraging the FINEOS Platform, Beneva will be able to remain competitive in this quickly evolving market which demands that carriers deliver advanced digital capabilities and fast turnaround times.”
This new engagement with Beneva comes during a year of growth for FINEOS, having just recently completed the acquisition of Spraoi, a leading provider of machine learning capabilities for the Group Life and Employee Benefits industry. The acquisition adds advanced digital and machine learning capabilities to the FINEOS Platform.