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The Rise of the Digital Insurer – FINEOS Product Presentations from the FINEOS Global Summit 2017

By Dan Watt, AVP, Product Marketing

Throughout this year’s Summit, FINEOS staff gave insightful updates of the FINEOS products.  Some of these from day one are highlighted below:

 

FINEOS Claims

Barry Duffy, Product Manager for FINEOS Claims, gave a detailed look at the Claim platform, focusing on Digital & UX updates.

Starting with a great review of some of the new features of the individual claim process, he then introduced the ‘Claim Hub’ – a start to finish UI to manage a claim.  Basically, you can do everything you need without leaving the ‘Hub’.   We changed our way of designing from capability to purpose. Asking ourselves: ‘What is the claim manage trying to do?’.  Through a lot of partnership and customer feedback, the new design provides reductions in:  User clicks, call duration, errors, and training.

So far, the feedback on the new design have been very favorable.  Barry and team are very excited about the upcoming rollout!

FINEOS Policy and Billing

Rounding out Day 1 was a session on the FINEOS AdminSuite, specifically FINEOS Policy and FINEOS Billing.  Alison Carter and James Hehir, Product Managers at FINEOS and Chuck Johnston, Chief Marketing Officer, led an informative session of how FINEOS looks at the marketplace and has developed an approach to support the needs of our customers no matter their administrative dynamics.  This is key as we look to the platform based economy and how important modularity and flexibility is in servicing our customers.

As Eoin mentioned earlier, the patterns of administration have changed.  It’s no longer Self Admin or Full Admin. The lines have blurred and the customer service requirements have increased.  So, how do you, the Insurer, serve your clients and customers in such a fragmented marketplace?  James and Alison answered the question with: FINEOS AdminSuite. As the team demonstrated, the new capabilities will provide the modularity in service and flexibility in technology to support the new administrative paradigm. A few highlights:

  • The FINEOS AdminSuite Policy and Billing capabilities are purpose built for the insurance industry, this gives you a suite designed from the ground up with your business in mind
  • AdminSuite will support Group List Bill, Self Admin with Customer Service & Monitored Eligibility, and Carrier Enrollment in 2018
  • 2019 will see additional capabilities delivered to support Individual Policy Admin and increased member level accounting

All-in-all Day 1 was a great start to Summit 2017!

If you were unable to attend the Summit this year and would like more information, you will find further details on all the products on our website at www.FINEOS.com.  In addition, I will be leading a Webinar on November 20 entitled “Why open core? 3 reasons why your current systems won’t cut it in the API economy.” I would be delighted if you could join us. You’ll find all the information to register here.