Fineos Corporation, a global provider of innovative enterprise software solutions for insurance, bancassurance, and government, today announced that it has been selected as the claims management solution for life and income protection (disability) claims at SalusAnsvar, one of Sweden's leading life assurance companies.
FINEOS Claims will replace the existing solution and the project will commence immediately.
SalusAnsvar Group Life Company is one of the leading group life assurance companies in Sweden with 150,000 customers in total. With the assistance of consulting firm, Ekelöw InfoSecurity, SalusAnsvar looked at a number of claims solutions available on the market before opting for FINEOS Claims. The company plans to use the solution to support and manage the complete claims life-cycle from first notification through to final settlement and resolution.
According to Ulf Nilsson, Managing Director of SalusAnsvar Group Life Company, "FINEOS offered the best fit for both our business and technology requirements. We were impressed with the preconfigured business content for life and income protection claim handling which aligns with industry best practice in this area. In addition, the configuration capabilities of FINEOS Claims will allow our IT and business staff to amend processes within their own areas of activity. This approach will enable us to quickly adapt to changes in the business without reliance on external parties or specialist technical knowledge. This will help us deliver even better service to our customers".
SalusAnsvar is the latest addition to the growing list of top tier insurers using FINEOS Claims for life and income protection. In North America, this includes the Royal Bank of Canada, ING, Principal Financial Group, ASEBP, Assurant and the Lifetime Care & Support Authority (LTCSA) of New South Wales in Australia. Along with many years experience in this area, FINEOS offers enhanced capabilities around the management of long tail disability claims where the emphasis is on case management to handle numerous interactions over time with multiple associated parties, both internally and externally.
FINEOS CEO, Michael Kelly, welcomed the deal. "We are very pleased that SalusAnsvar has chosen FINEOS as their claims management platform and we look forward to delivering a solution that will add real value to their business. We believe that this deal consolidates our position as the global solution of choice for life and income protection lines. Despite the economic downturn, we are seeing continuous demand for claims solutions across all business lines including P&C and Government Social Insurance".