FINEOS Platform Capabilities

The FINEOS Platform provides a comprehensive end to end core solution for the Employee Benefits market and the Global Life, Accident and Health market. Critical to the solution are the Platform Capabilities that underlie FINEOS AdminSuite, FINEOS Engage and FINEOS Insight, and provide a common set of capabilities including workflow, rules engine, customer management, no-code/low-code configuration tools, a standardized API connection and the cloud environment powered by AWS.

Cloud Native Core

At the heart of the FINEOS Platform is a cloud-native core-business insurance platform which is designed for mission critical use by both the smallest regional and largest multi-national carriers. FINEOS Platform is a suite of modern SaaS applications which can be used individually to meet urgent business needs and as an integrated core administration suite. Deployed to multi-tenant infrastructure, our architecture gives you the security, agility, and cost effectiveness you expect from a modern SaaS platform.

FINEOS Platform can scale to business needs and deliver digital service 24×7, for small businesses and very large enterprises. This level of business flexibility can only be delivered by utilizing cloud native technology such as:

  • Serverless computing and containerization to deliver self-healing
  • Auto-scaling services which can adapt to business cycles and consumer demand
  • Digital microservice APIs supporting clients, customers, and business partners across multiple channels; portal, contact center, mobile app, chatbot, voice assistant
  • DevOps technologies and Infrastructure as Code (IaC) to automate and manage environments

Smart Automation and Role-based Model

Automation is a critical part of any digital insurance experience but only if the automation is simple to interact with, accurate and flexible to changing human and business circumstances. FINEOS Platform provides the capabilities to use workflow, rules, AI tools and embedded best practices to create a dynamic, quick and satisfying user experience.

  • Embedded best practice business processes
  • Business rules to process decisions, data validation, calculations, reference tables
  • Artificial intelligence that automates smart decisions
  • Preconfigured workflow and case types across the suite for a quick start
  • Modern user experience technology and design techniques

Insurance business value chains are often complex with multiple roles that have different types of interaction based on that person’s needs. By designing for the roles inherent in Employee Benefits/LA&H insurance, the FINEOS Platform supports each user with capabilities required to meet their needs and to provide a frictionless experience.

  • Designed for the B2B2C model inherent in LA&H Group, Voluntary and Individual insurance market
  • Role-based capability sets support multiple digital engagement methods
  • Extensible to support new roles/engagement models
  • Based on FINEOS Customer Programs and Ethnographic-based UX Customer studies
  • Designed for fast, frictionless engagement for all parties

Low-Code for Agility

Embedded in the FINEOS Platform is a no-code capability that enables change without needing to write code. Business experts can redesign products and business processes, creatively responding to market changes. They can use our agile, code-free environment to:

  • Visualize processes, inspecting real process data to find bottlenecks and create efficiencies
  • Create new forms, automate decision making, route work
  • Change business rules and automate correspondence

FINEOS Platform also supports low code extensions to enable regional Market Solutions and customer specific requirements. A core system without the ability to extend through low code cannot deal with every possible change to the evolving insurance and employee benefits market.

The FINEOS Platform can be integrated and extended using our microservice extension architecture, allowing new or existing systems, calculators, business rules and other capabilities to be linked into the FINEOS Platform to change and extend core system behavior. This means that any change required by the business can be implemented in a timely way without dependence on the FINEOS organization.

Comprehensive Digital Service and Integration APIs

The FINEOS Platform enables carriers to accelerate consumer digital service and business partnerships using public APIs. These APIs enable a digital version of the service capabilities offered to customers and partners through more traditional channels.

FINEOS Platform APIs are stateless, REST APIs with a JSON payload that are easy to consume from any platform. B2B use cases also include:

  • Connecting to employer HRIS systems for billing, policy, and absence management support
  • Connecting to enterprise digital platforms to become part of the shared customer experience
  • Connecting to internal insurer systems including CRM, AP/AR, GL, DMS, CCM, HRIS, policy, enrollment, data lake and warehouse.

Trusted and Compliant

Security, availability, privacy and regulatory compliance are critical to any insurance core system in today’s environment. The FINEOS Platform is designed to support the most stringent security and regulatory requirements throughout the stack from data center security to application support for ERISA, FLMA and other regulated leave and accommodation requirements.

  • HIPAA, APRA and GDPR compliant application and process
  • ISO 27001/27017/27018 and FedRAMP, FIPS and FISMA compliant data centers
  • ERISA and FMLA/Absence/ADA compliance
  • 24×7 availability and support services
  • Full Data encryption in transit and at rest with organization-specific encryption keys
  • Integration with your IdP to deliver Single-sign On (SSO) and Multi-factor Authentication (MFA)