This whitepaper seeks to assist New Zealand-based organisations understanding of how the FINEOS Platform offering allows them to address the key information privacy principles outlined in the Privacy Act 20201, and assist them in meeting their privacy obligations described in the act.
The FINEOS Platform is a cloud hosted offering managed by FINEOS that provides a flexible, secure, and cost-effective way of managing Life, Accident and Health Insurers’ claims. The service, which includes Claims, Policy Administration, Billing, and other insurance services, is powered by Amazon Web Services (AWS).
The Privacy Act recognises a distinction between principals (clients using the FINEOS Platform, FINEOS Platform clients) and agents (SaaS providers / FINEOS). Where an entity (the agent) holds personal information for the sole purpose of storing or processing personal information on behalf of another entity (the principal) and does not use or disclose the personal information for its own purposes, the information is deemed to be held by the principal.