Novarica Market Navigator Report Validates FINEOS is the Market Leader in Life, Accident and Health Claims Systems in North America By Client Base
FINEOS Corporation (ASX: FCL), the leading core insurance platform vendor for life, accident and health (LA&H), was profiled in the recent Novarica Market Navigator Life/Health Claims Systems (September 2019). The report shows FINEOS has the largest client base for LA&H Claims in North America covering both individual and group markets. The Novarica Market Navigator report provides an overview of available stand-alone claims systems for Life, Accident & Health insurers. FINEOS was profiled across a wide range of criteria including functionality, technology, differentiators and implementation capabilities as shown in this report excerpt.
The report found that claims gained ground as one of the most critical capabilities an insurer needs to meet heightened customer expectations to match service levels provided across all types of business including retailers and financial services. Additional findings reveal that advanced claims processing capabilities like triage-based STP, skill-based routing and access to modern analytics and digital tools are critical to meeting insurers and claimants needs.
FINEOS Claims is part of the FINEOS AdminSuite, which is an integrated core processing system. FINEOS Claims is highly configurable to work independently or optimally with the entire FINEOS AdminSuite and supports all the critical claims capabilities mentioned in the Novarica report for both group and individual lines.
FINEOS Claims, FINEOS Absence and FINEOS Payments – all components of FINEOS AdminSuite – provide the complete FINEOS Integrated Disability and Absence Management (IDAM) solution. As one of the fastest growing lines of business for life, accident and health, US employee benefit carriers seek a fully integrated IDAM solution to maintain a competitive edge. FINEOS IDAM is the only core solution on the market that supports disability, absence, billing and payments for all insurance and leave types on a single platform.
Michael Kelly, FINEOS CEO, commented, “It’s good to see Novarica focusing on Claims as a key component of the insurance lifecycle and the key to customer satisfaction. As the report shows, FINEOS has the largest customer base across both Individual and Group markets which has enabled us to build out even more capability for our customers and to make further investments in FINEOS AdminSuite, especially in FINEOS Absence and IDAM. Integrated disability and absence management capabilities are a key element of many of our insurance customer’s go to market strategy and we are pleased that we can support them in providing this key differentiator in the disability claims market.”
Nancy Casbarro, Novarica Vice President of Research & Consulting, added, “Today's carriers demand stand-alone claims solutions provide flexibility and efficiencies, but more importantly, meet the ever-growing customer expectations for a seamless digital experience.”
Novarica helps more than 100 insurers make better decisions about technology projects and strategy through retained advisory services, published research, and strategy consulting. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and of more than 300 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project checkpoints, and IT strategy. More information at https://www.novarica.com/.
About FINEOS Corporation
FINEOS is a market leader in core systems for life, accident and health insurance carriers globally with 6 of the 10 ten group life and health carriers in the US as well as 6 of the top 10 life and health carriers in Australia. With employees and offices throughout the world, FINEOS continues to scale rapidly, working with innovative progressive carriers in North America, Europe, and Asia Pacific.
The FINEOS Platform provides customers full end to end core administration for group, voluntary and individual across life, accident and health. The FINEOS Platform includes the FINEOS AdminSuite core product suite as well as add-on products, FINEOS Engage to support digital engagement and FINEOS Insight for analytics and reporting.
For more information, visit www.FINEOS.com.
Contact: Victoria Jamison
+ 353 1 639 9700
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Schlumberger Announces Fourth-Quarter and Full-Year 2019 Results Conference Call6.12.2019 18:07:00 CET | Press release
Schlumberger Limited (NYSE:SLB) will hold a conference call on January 17, 2020 to discuss the results for the fourth quarter and full year ending December 31, 2019. The conference call is scheduled to begin at 8:30 am US Eastern time and a press release regarding the results will be issued at 7:00 am US Eastern time. To access the conference call, listeners should contact the Conference Call Operator at +1 (844) 721-7241 within North America or +1 (409) 207-6955 outside of North America approximately 10 minutes prior to the start of the call and the access code is 4013483. A webcast of the conference call will be broadcast simultaneously at www.slb.com/irwebcast on a listen-only basis. Listeners should log in 15 minutes prior to the start of the call to test their browsers and register for the webcast. Following the end of the conference call, a replay will be available at www.slb.com/irwebcast until February 17, 2020, and can be accessed by dialing +1 (866) 207-1041 within North Amer
BUFF STUDIO Globally Launches My Coloring, a Mobile 3D Pixel Art Coloring Book Game6.12.2019 13:00:00 CET | Press release
BUFF STUDIO announced on December 5 that it launched My Coloring, a mobile 3D pixel art coloring book game, in 155 countries simultaneously. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191206005162/en/ BUFF STUDIO launched My Coloring, a mobile 3D pixel art coloring book game, in 155 countries simultaneously. My Coloring is a game that materializes a 3D pixel art coloring book on mobile devices. You can blow your stress away as you paint spaces in the order of numbers on the screen while reading calming messages. Relaxing background music you will listen during gameplay and its fairytale-like design will give you pleasure and happiness. You can download it for free on Google Play and the Apple App Store. (Graphic: Business Wire) Its Android and iOS versions were released at the same time so the users can download it for free on Google Play and the Apple App Store. My Coloring is a game that materializes a 3D pixel art col
Horizon8 Opens European Headquarters in Cork with Plans for up to 50 Jobs6.12.2019 12:00:00 CET | Press release
Horizon8, an innovative, technology solutions company today opens its European headquarters in Cork, Ireland. Formerly called HengTian, the Company was created in 2004 as a strategic partnership between Boston based State Street, and Hangzhou based Insigma Technology and Zhejiang University. The new office in Cork will mark the first European office for Horizon8 adding to the company’s North American presence in Boston. An Tánaiste (Deputy Prime Minister), Simon Coveney, T.D. commenting on the opening said: “This announcement is great news for Cork and indeed Ireland. With up to 50 jobs planned, Horizon8 is placing a significant vote of confidence in the Irish Market and further demonstrates our competitive position in attracting Foreign Direct Investment. All of these roles will be for high-skilled workers, including engineers, developers and business consultants. As a Government, we have been committed to making sure that there is a strong pipeline of job opportunities outside of Dub
UAE Company Completes GBP 300 Million Investment in UK6.12.2019 09:58:00 CET | Press release
Twenty14 Holdings, the hospitality investment arm of LuLu Group International, has completed investments of US$ 390 million in UK with the inauguration of the Great Scotland Yard in London today. The hotel will be open for business from December 9, 2019. The historic property was acquired in 2015 for GBP 110 million, and the makeover of the hotel involved a further GBP 50 million. In addition to the Great Scotland Yard, Twenty14 Holdings had acquired the celebrated Waldorf Astoria Edinburgh – The Caledonian in Scotland in 2018. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191206005122/en/ The Great Scotland Yard being formally inaugurated by Nicky Morgan, Secretary of State, Lord Jonathan Marland, Sir Edward Lister, UAE Ambassador HE Mansoor Abulhoul, Indian High Commissioner Ruchi Ghanshyam, Hyatt Hotels Global President & CEO Mark Hoplamazian in the presence of LuLu Group Chairman Yusuffali MA and Twenty14 Holdings MD Ad
Autodoc GmbH adapts its storage capacity to strong company growth6.12.2019 09:08:00 CET | Press release
Autodoc, the benchmark in online retail for car spare parts in Europe, is expanding its logistics locations in Szczecin and Berlin. With above-average growth in recent years, the demands placed on logistics have become increasingly extensive. In 2018 as a whole, around five million orders were processed and delivered at the two Autodoc warehouses in Berlin and Szczecin. In the current year, the 6 million mark in orders was already exceeded by mid-November. In order to meet Europe-wide demand in the future as well, Autodoc has rented additional warehouse space in Szczecin and at its main location in Berlin. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191206005110/en/ The Autodoc warehouse in Szczecin, Poland, will provide around 27,000 m² of storage space from spring 2020. (Photo: Business Wire) Expansion of logistics capacities is a key growth factor Autodoc saw itself as a European company from the outset and identified
Play harnesses ADVA timing solution for 5G-ready mobile network6.12.2019 08:00:00 CET | Press release
ADVA (FSE: ADV) today announced that Play has deployed its Oscilloquartz timing solution to provide LTE Advanced services throughout Poland and prepare its network for 5G. The PTP grandmaster with dual integrated GNSS antenna enables Play to deliver the resilient and accurate Precision Time Protocol (PTP) frequency and phase synchronization needed for next-generation connectivity. With its ultra-compact design, the OSA 5405 Series empowers Play to migrate its radio access network from costly GNSS RF antennas and coax cables to standard copper and fiber Ethernet cabling, dramatically reducing capital expenditure and operating expenses. ADVA’s long-term partner NAVI also played a key role in the project. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191206005008/en/ ADVA's OSA 5405 timing technology is helping Play prepare for 5G (Photo: Business Wire) “This deployment is about taking our RAN infrastructure to the next level.