Content grouped by FINEOS

Do all payments need to be approved?

Paula Tunison, Business Consultant, FINEOS “Never take more than it will cost them to find you”.  I don’t think I’ll ever forget that day in college when my accounting professor made this statement.  Now, I don’t think he was really encouraging us to embezzle money but instead was trying to make the point that all … Continued

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The Bureau is Dead! Long Live the Bureau!

Tim Crossley, London Market Sales Manager, FINEOS My first summer job was at IBM Warwick. It was the 1970s; the office was brand spanking new and state of the art. People had big hair and loud shirts. My task was to create a similarly loud demo that showed off the first colour terminal available on … Continued

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Complimentary Webinar: Life Claims - The Next Wave

Date: Thursday, February 27 Time: 11am Eastern Time (US) REGISTER HERE It used to be that claims management was not a high priority for the life insurance enterprise, as it was seen as a non-complex, one-off event. Regulation, legacy complexity and an increasingly demanding consumer hungry for a better service experience are forcing carriers to rethink … Read More

What do you Mean this is a Requirement? Debunking Assumptions about Requirements

Amy Corbett, Business Consultant North America, FINEOS We assume that requirements are the easy part of an implementation.  Here is a definition from a Computing dictionary: “The first stage of software development which defines what the potential users want the system to do. In modern methods these requirements should be testable, and will usually be … Read More

London Market Claims Teams Need to Improve Communication

 Graham Newman, European Product Marketing Manager, FINEOS The insurance industry is needs to think radically differently about the way it communicates with its clients, peers and suppliers because its operating model contrasts unfavourably with other business sectors. Communication is obviously a vital component of any service industry, but the standard of communications and service we … Read More

Dip your toe into the world of Cloud

Simon Bolster, Principal Consultant, FINEOS The technology world has been abuzz with talk of cloud-this and cloud-that for a few years now. Some people understand it, others understand it a bit – while many people and organisations are unsure how to even get started with it. It can be daunting for sure – but the … Continued

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FINEOS London Market Claims Summit - Putting the Customer First, Driving Innovation in Claims

Graham Newman, Product Marketing Manager, FINEOS In November FINEOS held its London Market Claims Summit.  Following on from our highly successful FINEOS Claims Global Summit which took place in Toronto in October, a specialised summit was held specifically for the London Market.  We wanted to provide a very focused business event for the market and … Read More

Driving Operational Excellence

Fergal Heffernan, Customer Engagement Manager, FINEOS The last presentation of the FINEOS Claims Global Summit 2013 was from Paul Barry, Head of Customer Management at FINEOS. Speaking last is a difficult job, as it turned out, not as difficult as Alaskan crab fishing (officially the hardest job in the world according to Paul’s research on … Continued

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Balancing Technology and Touch: It's About the Relationship

Review of Kevin McCarthy’s Keynote at the FINEOS Claims Global Summit 2013 Fergal Heffernan, Customer Engagement Manager, FINEOS We were delighted to have Kevin McCarthy speak as one of our keynote presenters on the opening day of the FINEOS Claims Global Summit 2013 in Toronto, Canada. Kevin is COO at the Unum Group and to … Continued

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FINEOS Claims Summit 2013 - Daily Blog 3

Graham Newman, Product Marketing Manager, FINEOS The second full day of the conference dawned bright and crisp here in Toronto. FINEOS has always tried to ensure that the solutions we develop for the world’s insurance markets are tuned to real needs and will solve pressing problems and provide opportunities for claims processing that claims handlers … Read More

FINEOS Claims Summit 2013 - Daily Blog 2

Graham Newman, Product Marketing Manager, FINEOS The first full day of the 7th annual FINEOS Claims Global Summit opened yesterday.  The morning was devoted to keynote speeches focused on innovation within insurance and how technology has played its part in providing opportunity.  There were keynote addresses from Larry Wilson, Kevin McCarthy and Michael Kelly.  Both … Read More

The New Insurance Model - It's Not Business As Usual

Review of Larry Wilson’s Keynote at the FINEOS Claims Global Summit 2013 Steve Dorn, SVP Strategic Product Group, FINEOS It’s the opening day of the FINEOS Claims Global Summit in Toronto, Canada and we are surrounded by many of the industry’s key executives from leading global insurance companies.   Kicking off the conference with his keynote … Read More

Does the London Market Leak?

Tim Crossley, London Market Sales Manager, FINEOS Does the London Market leak? More precisely, is there claims leakage in the London Market, and, if there is, can anything be done to reduce it? I don’t pretend to know the answer to this question for sure, but I have a gut feeling. I can’t help feeling … Continued

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Engage and Retain the New Mobile Consumer with VIEWPOINTS

Steve Dorn, SVP Strategic Product Group, FINEOS If you’re reading this blog, there is a 58% chance you are doing it on smart phone or mobile device according to a contracted survey by Google.  In their recent survey the findings show that smartphones have become an indispensable part of our daily lives.  In the survey … Continued

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Does Off-the-Shelf Insurance Mean Out-of-the-Box Claims?

Colm O’Connor, Business Consultancy Practice Lead, FINEOS For many years it has been an increasingly familiar sight to see financial products and, in particular, insurance products being advertised in the retail sector, mainly within supermarkets at the checkout counter.  This off-the-shelf buying is associated with impulse buys and the product placement is being driven by … Read More

London Market - How Can Syndicated Insurance Continue to Thrive?

Rob Say, Professional Services Consultant, FINEOS I recently attended an insurance technology conference (TINTech 2013) and was involved in several discussions on claims management and future developments in the London Market.  Something nagged at me during the day and I realised that we didn’t actually step back and look at why the London Market exists … Read More

Claims: Effective Distribution and Monitoring of Workloads

Dave Lennon, Business Consulting Team Lead for North America, FINEOS It all makes sense doesn’t it?  Effective distribution of work should be a no-brainer, but why do we struggle so much achieving this goal?  What can we do to ensure that everyone is working at an optimal level? My previous project experience with FINEOS has … Continued

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Private Cloud Computing - Viva Moore's Law

Michael Quinn, Chief Technology Architect, FINEOS For a myriad of reasons most insurers are not moving their core systems to public cloud in the next 3-5 years.  However, insurers are adopting private cloud computing.  Our customers today are running FINEOS Claims in private clouds with others planning to transform how they deliver IT services by … Continued

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FINEOS Perspective: Who is a London Market Claims System For?

Tim Crossley, London Market Sales Manager, FINEOS What should occur when claims are made?  Shouldn’t the supporting technology be providing value to clients and claims handlers alike?  A recent launch press release by a technology vendor didn’t mention the client once. The friendly, face-to-face approach to claims has a lot going for it.  It’s been … Read More

How Do I Effectively and Efficiently Distribute New Disability Claims Among My Staff?

Devery Johnson, Senior Business Consultant This is definitely an age old question!  All those new claims coming in, they must get handled quickly and correctly and you don’t want to overburden some staff while others don’t seem to have enough new claims.  You’ve tried round robin, alphabetical distribution, claim type (STD, LTD, Residual), and still … Read More

Collaborative Project Delivery & Your Claims Solution: Recipes for Success When Working with Your Supplier

Rob Say, Professional Services Consultant, FINEOS Every customer I’ve worked with has been subtly different both in terms of the business (what the customer does) and their operation (how they do it), but each project has common challenges.  The supplier selection process should mean that you’re choosing the best fit for your business but it’s … Read More

Would You Straight-Through Process a Life Claim?

Colm O’Connor, Business Consultancy Practice Lead, FINEOS Straight-through processing of claims is increasingly common.  From windscreen damage claims in the P&C market to automated approvals for pregnancy claims within the Disability market, insurers appear increasingly willing to automate higher volumes of claims using zero-touch or straight-through processing. Within the Life insurance market, however, this is … Read More

The Future is Cloudy

Michael Quinn, Chief Technology Architect, FINEOS We live in a world where Information Technology is transforming how we live and work.  Today’s mobile phones are more powerful than supercomputers from the past. Even more fascinating is that our mobile phone can connect to exabytes of data in a highly interactive way. Warren Buffett has recently … Continued

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Designing Your Claims Solution - When Less is More

Guy McClintock, Solution Architect Stream Lead, FINEOS So this is it, it’s finally happened, after all the weeks and months of business cases and cost benefit studies you’ve got budget approval for that next big project.  You’re tired, but exhilarated.  You’re excited and feel the possibilities are endless.  You can already see that new solution … Read More