(DUBLIN) FINEOS Corporation (ASX:FCL) and New Ireland Assurance Company plc today announced they have signed an agreement to provide the FINEOS Platform as a claims solution for group and individual income protection, life and critical illness (CI).
This investment comes as New Ireland looks to leverage new technologies to provide a superior claims experience for its more than 600,000 customers. New Ireland was the first wholly Irish-owned life assurance company to transact business in Ireland and is one of the country’s largest life assurance companies.
FINEOS is the global leader providing end-to-end core systems for life, accident and health insurance. The company’s SaaS FINEOS Platform was purpose-built for the disability and income protection industry. With the addition of New Ireland, FINEOS becomes the biggest provider of life assurance claims software in Ireland.
New Ireland will use the FINEOS Platform’s policy capabilities to provide a system of record for customers at the time of claim. New technologies will automate many aspects of the claims process, ensuring a consistently superior claims experience is delivered to customers.
“FINEOS is especially proud to grow with another client here in our home market,” said FINEOS CEO Michael Kelly. “We will support New Ireland on the path to seamless digital experiences for claimants and brokers.”
Head of Customer Service and Operations Maureen Breslin said, “Our partnership with FINEOS is an exciting step toward the future for New Ireland. The FINEOS technology will let us streamline claims for our customers and provide them with an even more personalised service to help them when they need us most.”
About FINEOS Corporation
FINEOS is a leading provider of core systems for life, accident and health insurers globally with 7 of the 10 largest employee benefits insurers in the U.S. as well as a 70% market share of group insurance in Australia. With employees and offices throughout the world, FINEOS continues to work with innovative, progressive insurers in North America, Europe, and Asia Pacific.
The FINEOS Platform is the only purpose-built, end-to-end SaaS insurance solution for the life, accident and health market. FINEOS AdminSuite delivers industry-leading capabilities across core administration, including absence management, billing, claims, payments, policy administration, provider management and new business and underwriting; all of which are configurable to operate independently or as one suite. The machine learning-enabled FINEOS Engage solution delivers people-first digital engagement pathways and the FINEOS Insight solution provides predictive analytics and reporting across the business.
Please reach out to FINEOS for more information.