Lori Welty, Esq., Absence Management Senior Compliance Attorney
The states are off to the races, as they’ve begun the year with a slew of new paid family and medical leave initiatives. Some of the latest proposals include a novel duel-state program, six months paid family leave, and paid vacation: Vermont and New Hampshire Join Forces New Hampshire Governor Chris Sununu and Vermont Governor … Continued
I was speaking with some industry colleagues waiting at the airport after an Employee Benefits (EB) conference about the use of blockchain in EB to facilitate partnerships. It was a good discussion that may lead to an interesting implementation of blockchain between them, enabling a business goal that has been difficult to achieve with current … Read More
There’s an adage in the world of fitness and nutrition, ‘you can’t out train a bad diet’. Similarly, in the world of processes and systems, it’s fair to say, ‘you can’t out automate bad data’. Data is Fuel Data is the fuel that processes run on. If data is not timely, complete, trustworthy and accurate, … Continued
Faced with limited choices in a high desert bookshop, I found myself reading about the US tax code. (Stay with me…). Turns out the IRS does not have a stellar reputation for simplicity and ease-of-use. Americans spend 6 billion hours a year filing their taxes, much of the time figuring out which forms are needed. … Continued
Megan G. Holstein, Esq., SVP Absence and Claims Product
New Jersey has updates to its statutory temporary disability (TDI) and paid family leave (FLI) benefit programs. Beginning on October 4, 2019, New Jersey will be streamlining its TDI and FLI benefit programs to provide a smoother transition between TDI and FLI benefits. Two bills were recently signed by New Jersey’s Governor, NJ Assembly Bill … Read More
Megan G. Holstein, Esq., SVP Absence and Claims Product
Digital Insurance recently held its annual Women in Insurance Leadership conference. It was a day and a half event for insurance industry leaders to learn, network, and share ideas. The event nurtured the need for both continued professional, industry education and personal leadership growth. Risk Taking Lessons The speakers and panelists all had diverse backgrounds … Read More
Designing a new insurance platform is an exciting challenge. Today, there are a number of great service capabilities available from leading technology providers that greatly enhance the insurance life cycle and value chain. Insurers can provide a digital user experience to their customers leveraging AI as a service, creating user experiences tailored to their needs. … Read More
A noted insurance industry analyst recently suggested that, for insurers, 2018 will be the “Year of the Platform,” as 2017 was the “Year of Insurtech.” I agree that there is a lot of focus on platforms and platform economies in insurance right now, however there are a lot of different meanings packed into the term … Continued
Turns out that life insurance industry’s relationship with information technology didn’t begin with computers. Before World War I, the opportunity arose to leverage so-called tabulating machines, originally developed by Hermann Hollerith for the United States census of 1890. Predecessors to computers, these large wooden machines used punched cards for fast counting, sorting, adding and later, … Read More
Last month I had the distinction of once again representing FINEOS at LIMRA’s annual Enrollment Technology Strategy Seminar (ETSS). The night before the conference, FINEOS sponsored a hot topics round table, which I had the opportunity to lead. The topic for our table was the “Ever Evolving Insurance Market,” and how it is affected by … Read More
Last week, FINEOS had the pleasure of being a premier sponsor of the LIMRA Enrollment Technology Strategy Seminar (ETSS) in Jacksonville, FL. LIMRA assembled a diverse set of experts from the various stakeholders within the Enrollment, Core Services, and Benefits Administration technology universe.
It’s getting confusing out there! If you already had a hard time making sense of administrative and service needs, things are only going to get more complicated. The industry has changed, client expectations have increased, and digital customer needs are sky-rocketing, demanding more from the insurance industry. “Dogs and cats, living together… mass hysteria!”. Customers … Read More
The FINEOS AdminSuite and Digital Platform are built upon a customer-centric model both strategically and technically. This will certainly arm our clients for success in the digital market for years to come.
In this blog series, I’ve talked about the need for Life and Health insurers to address digital service and some of the challenges we face. In this blog, part three, I’ll focus on some of the ways our customers have made progress.
For this blog, I’d like to give some personal insights on the selection of a core system and vendor. It is crucial to get the steps and interactions right in a core systems selection process, as the consequential outcome has very significant impact on an insurance carrier.
The appeal of software products is easy to understand: everyone wants to work smarter and more efficiently while providing better customer service. Their viability, however, is entirely predicated on customers having convergent needs
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