RBC speeds up claims processing times for clients
DUBLIN, IRELAND, December 12 2007 – FINEOS Corporation, a global provider of innovative enterprise software solutions for insurance, bancassurance, and social insurance, today announced that Royal Bank of Canada (RBC) has put FINEOS Claims(R) in place for its disability insurance business. Implemented in conjunction with IBM, a multi-year contract provides RBC with a claims system that is directly designed to provide enhancements in straight-through processing and to improve operational efficiencies especially in the area of claims cycle times.
Al Tinney, Senior Vice-President and Head of Insurance Technology, RBC, said, “These enhancements will directly benefit our clients by shortening the time it takes to process their claims.”
Michael Kelly, CEO, FINEOS Corporation, added, “We are very pleased to have the opportunity to add RBC to our growing client base. The success of FINEOS Claims, especially in the disability insurance space, is important to our continued expansion. We are confident that FINEOS Claims will deliver clear competitive benefits to RBC.”
About FINEOS Corporation
FINEOS is a global provider of innovative enterprise software solutions for insurance, bancassurance, and social insurance. FINEOS solutions address core business processing requirements including CRM sales & service, new business & underwriting, claims & payments, and policy administration. FINEOS solutions are built on a customer and case centric, rules-driven, component-based enterprise platform that serves as a flexible infrastructure for new product introduction, legacy enrichment, and business transformation initiatives. FINEOS is delivering documented benefits for some of the world’s leading insurance carriers, government institutions, bancassurers, retail banks and building societies. The company is headquartered in Dublin, Ireland and has offices in North America, Europe and Australasia. For more information, please visit www.FINEOS.com.