Resources

FINEOS White Paper: APRA Prudential Practice Guide SPG 250

As the provider of an insurer’s claims management system, FINEOS sees itself as playing an important role in ensuring compliance with SPG 250 regulations for both the RSE licensee and the insurer. FINEOS strives to keep up to date with the latest Australian Life Insurance trends and regulations so that the FINEOS claims solution may be adapted to this changing industry and best serve FINEOS customers. This white paper provides a summary ...

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FINEOS White Paper: Insurance Innovation

“Insurance companies have five years to embark on business model refashioning; any longer and they risk severe talent shortages that will take the ability to proactively change out of their hands.” - David Smith Life and health insurers face perhaps some of the most significant changes of any insurance sector, partly due to the drastically changing nature of healthcare and healthcare technologies. Noted futurist and technologist, David ...

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FINEOS White Paper: The Future of Disability Claims Management

This whitepaper outlines the changes in the disability market from both a medical and a technical perspective and will highlight the key areas of opportunity for insurers that we see happening today and emerging in the near term. There is a key focus on: Why the challenges we will face are shifting faster as we learn more about disabilities How technology is radically reshaping claim service standards in disability How ...

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FINEOS White Paper: Recent Trends in the Australian Disability Income Protection Insurance Market. Are There Lessons for Other Markets?

The Australian Life insurance market accounts for 1.67% of the world market but in recent years has been “punching above its weight” when it comes to the impact on global reinsurers. The deterioration in profitability in the Australian Income Protection market has flowed through to the results of the major reinsurers. It is a valuable exercise to understand the factors behind this deterioration and consider whether there are lessons for ...

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Customer Case Study: Friends First – Enhanced Customer Service and Operational Efficiency

Friends First and FINEOS have a longstanding relationship dating back to 1998 when the FINEOS CRM & Workflow system was introduced. Enhanced and renamed to FINEOS Front Office, this FINEOS product solution has been an integral part of the Friends First operations for over a decade, integrating with Friends First’s back-end policy and scheme administration systems. FINEOS Front Office delivers a single view of customer across all channels ...

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FINEOS White Paper: Building the Business Case for a New Life Claims System

A compelling business case is needed to provide the motivation and prioritization to introduce a new claims management system in any organization. The approach to such a business case involves assessing current business processes and performance, designing future processes, identifying the business benefits, calculating the IT system and related savings that can be made by retiring legacy software and finally calculating the ROI. Many ...

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FINEOS Webinar: The Evolution of Disability Claims Management

How Claims Handling Has Changed and Where it is Going. Managing a disability claim is both an art and a science. On the artistic side, claims professionals have to interpret potentially complex and non-stable medical diagnoses against a backdrop of socio-economic issues, such as varying levels of job satisfaction and re-training needs. The scientific part of …

FINEOS Webinar: Building the Business Case for a New Life Claims System

According to recent research from industry analyst, Novarica, more than 40% of life insurers are busily replacing or majorly enhancing their most important systems, including portals, underwriting, policy admin, claims, billing, and BI, with claims receiving the highest percentage of total replacement of any other category.

Despite the apparent need, a compelling business case for a system replacement is almost always required in ...

FINEOS Webinar: Seven Technology Trends that are Shaping the Future of Life Claims

External and internal influences continue to exert pressure on life insurers as companies look to accelerate growth. Keeping existing producers satisfied while increasing the distribution footprint is a challenge that all life insurers are trying to address. The way an insurer handles claims for their clients is ranked as a top reason for a producer working with, and continuing to recommend an insurer. Meanwhile the relentless drive for ...

FINEOS Webinar: Leveraging Claims Data to Boost Performance

Most insurers don't lack claims data. They lack the ability to unlock the valuable information contained in their claims data. Siloed systems and organizations, incompatible internal data models, and poor reporting and analytics capabilities hamper the industry's attempts to transform claims departments into data-driven, insight-based operations. To their credit, many insurers recognize that leveraging analytic tools and their internal data ...

FINEOS White Paper: Claims Service Differentiates Insurers

The vast majority of policyholder-insurer dialogue takes place up front as coverage terms and rates are worked out. When the policy is delivered and the first premium paid, the policy goes into force. Client-insurer discussions may cease for the most part. When the policyholder files a claim, however, exchanges between the insured and insurer resume. At this critical moment, the policyholder's service expectations create a prime ...

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FINEOS Webinar: Claims Transformation - Positioning for the Future

Karen Furtado of advisory firm Strategy Meets Action (SMA) shares the latest industry research on the state of claims automation – where it is now and what the future holds. In this webinar, she explores the ways in which claims professionals are using technology to improve operational performance and provide world class customer service to claimants.

FINEOS Webinar: Using Technology To Address Challenges in Disability Claims

Randall Day, Head of Claims Solutions for FINEOS and Andy Albano, Life and Disability Claims Officer for Assurant discuss how technology can help to address the challenges facing disability claims management today. You will hear specifically how Assurant utilized claims management technology to move from a totally paper-based environment. The webinar is available for download here

FINEOS White Paper: How Technology Can Enable Disability Insurance Claims

This white paper examines the disability claims process, identifies inefficiencies and suggests area where improvements could to made to what can be a slow, sometimes confrontational and manually intensive process. It poses questions about specific issues facing claims handlers. In addition, it looks at how technology can resolve some of these issues and it concludes with an overview of FINEOS Claims for Disability and the benefits it can afford.

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Customer Case Study: ACC - Enterprise Claims Management at the Accident Compensation Corporation

The New Zealand government insurer, the Accident Compensation Corporation (ACC), administers over 2 million claims annually for personal injury, work cover and workers’ compensation from 48 locations across New Zealand. In 2003 the ACC identified a requirement to replace its legacy claims system with a more flexible solution to allow it to become more claimant centric and prepare it for future business improvements. Following extensive ...

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