Employee Benefits

Employee Benefits are an important source of talent attraction, retention, income protection and help employers to support a powerful employee engagement and healthy workplace culture.  Insurance providers and their partners understand that the Employee Benefits service model has become a crucial factor in employers selecting and retaining their Employee Benefits package offering to their workforce. The FINEOS Platform creates a seamless Employee Benefits system.

FINEOS AdminSuite has been purpose built to support the North American and Global Employee Benefits market on the FINEOS Platform. FINEOS has designed and developed each product component of the FINEOS AdminSuite core system to align with the way our clients do business and how they think about their customers, partners and the ever-changing competitive landscape and market.

FINEOS AdminSuite provides broad and deep support for the various products and business models found in this complex Employee Benefits market.  The FINEOS Platform capabilities enable a secure, scalable foundation in the cloud with workflow, rules, low code/no-code configuration and extensive APIs to support the broad partner ecosystem of Employee Benefits providers.

Purpose-built for the Employee Benefits Market

Michael Kelly, FINEOS CEO, explains why it’s so important that software is built specifically for the employee benefits market.

Employee Benefits for Group Insurance Market

Employer-funded group insurance products are the bedrock of Employee Benefits Plans. Traditional models focused on servicing the employer and not the employee. However, in today’s customer-centric yet highly regulated world, much of the focus has shifted to offering the employee improved insights, flexibility and protection through modern core software with digital API driven and powerful service models.  A move away from legacy core systems and selecting a modern Employee Benefits core industry platform is critical to the future success of group insurers.

Many group insurers are offering integrated paid and unpaid leave management as part of their Employee Benefits service to remove this complexity from the Employer’s HR team and to enable an Integrated Disability and Absence Management (IDAM) service.  As Governments increase employee protection and paid leave legislation this service has become table stakes for all group carriers.

FINEOS AdminSuite

Employee Benefits for Voluntary Market

Employee-funded, voluntary products extend and enhance traditional group employee benefit offerings. Voluntary products and emerging hybrid products offer a greater source of flexibility, protection and security for the employee and their dependents.  While these products and services provide a competitive differentiator for insurers, they require greater speed-to-market and a deeper customer (employee) connection than traditional group products. Product configuration, digital engagement, and automated, frictionless administration are the critical enablers for success.

FINEOS AdminSuite

Absence Management Solutions

In today’s economy, there are numerous reasons to be absent from work.  Complicating matters, specific to the United States, is an ever-changing list of federal, state, and municipal leave laws. Employers must determine which laws apply to any given absence and act accordingly to avoid liability and remain in compliance. This requires highly developed absence management processes and systems. To remain compliant, employers need integration between insurance products and absence and leave management practices. Up-to-date regulatory rules, real-time employee information, and integration with disability and paid leave claims are critical in absence and disability management.

  • FINEOS Absence simplifies the complexity, automating processes around both paid and unpaid absences.
  • FINEOS IDAM holistically addresses the complex process of absence management with integrated disability claims and absence management, policy administration and payments.
  • Paid Leave supports legislative leave reasons at the Federal, State and Municipal level.

The Purpose-Built Platform: Simplifying Employee Benefits

Simplicity is often the key to solving complex problems. How do we make intricate tasks effortless? How do we streamline complicated processes? How can everyone, regardless of their technical expertise, navigate systems with ease? 

When it comes to employee benefits, the answer is simple: a purpose-built platform.