The employee benefits industry has an imperative need for digital-enabled, fast, efficient core systems that meet its unique needs today, and in the future. The need to support new employer business needs, such as absence management, require process change and updating of long-entrenched core systems. The challenge to updating these incumbent systems is that they carry a lot of unique industry intellectual property involving product, process, and regulatory requirements that is not easily replicated or transferable without a heavy lift.
Insurance core systems need to be deployed as purpose-built end-to-end solutions. External digital engagement systems need to be closely connected to the core platform and monitored for errors across the process. A purpose-built platform serves a broad functional need or a market-specific end-to-end process such as ERP or core insurance processing.
Read more and learn how the purpose-built FINEOS Platform has the most to offer to both new insurance startups looking to quickly deploy and enter the market, and incumbent insurers that need to transform to meet new market requirements.