The FINEOS Platform merges the lines between the traditional approach to core, digital and data. The unified FINEOS Platform’s cloud-native architecture opens the door for insurers to take advantage of insights to their data that have the potential for meaningful impact on their business.

Within the FINEOS Platform, Insight capabilities provision a common and customer-centric data model. This model enables you to capture and analyze data from multiple channels within and outside of your ecosystem and across all insurance functions. Furthermore, the FINEOS Platform helps insurers embed predictive insights in core business processes, allowing real-time analytics to influence business decisions and drive better outcomes. You are then able to utilize the data to make actionable decisions.

Embedded Analytics

Real-time and historical data are critical to the day to day operations of an insurer and FINEOS Embedded Analytics leverages the great data that the FINEOS Platform provides to drive smart operational decisions. Role-based UIs insure the most important data/scores for a given scenario are highlighted to fight cognitive overload.

Real-time embedded dashboards provide insurer staff and employers immediate insight into a given case, plan or employer summary. FINEOS out of the box claim segmentation models and processes coordinate the journeys of claims of different severities. This built-in segmentation of workload for low and high touch work routing also provides real-time monitoring for re-segmentation / escalation to avoid creeping catastrophe claims.

Artificial Intelligence

The use of Artificial Intelligence (AI) within insurance is no longer a matter of if, but of when. The impact will be dramatic with fundamental changes to the industry and customer expectations.

FINEOS’s AI program is focused in three areas;

  • Leveraging cloud AI platforms for use cases including the sentiment analysis of customer communications and automatically identifying and processing forms received by post or portal upload.
  • Collecting data and presenting predictions to operationalize existing internal and third-party models, enabling model-based work segmentation and decision assistance.
  • Developing new LA&H machine learning models to better utilize human resources and make predictions in claim complexity, leakage, delinquency, litigation and fraud detection.

The skills and data volumes required to develop effective machine learning models make it difficult for even the largest insurers to make progress on their own. FINEOS is overcoming these barriers by collaborating with customers and technology partners to deliver value to our community.