– Configurability and Superior Case Management cited as Key Factors –
Dublin, Ireland, June 4, 2008 – FINEOS Corporation, aglobal providerof innovative enterprise software solutions for insurance, bancassurance, and government, today announced that Manitoba Public Insurance of Canada has selected FINEOS Claims� to manage claims for bodily injury resulting from road accidents. The award of the contract followed an extensive tender procedure.
Commenting on the announcement, Dan Guimond, Vice-President, Business Innovation and Insurance Operations at Manitoba Public Insurance said, �Improving efficiencies in claims processing underpins our strategy to maintain and improve the highest levels of claimant satisfaction for Manitobans. We believe that FINEOS Claims is a best of breed solution that offers us the flexibility and configurability to deliver our clients access to superior products, coverage and value�.
Manitoba Public Insurance is a non-profit Crown corporation that provides basic automobile coverage in the province of Manitoba, Canada. Basic automobile insurance is compulsory in the province and is only available through Manitoba Public Insurance. FINEOS Claims will be used to improve operational efficiency by increasing straight-through processing and the automatic resolution of tasks, thereby reducing reliance on manually intensive processes.
FINEOS was awarded the contract following a rigourous tender process. Three key areas of demonstrable capability were critical in the selection of FINEOS Claims. Firstly, the inherent configurability of the system will enable Manitoba Public Insurance to work with their existing systems and processes rather than forcing them to conform to a predetermined model. Moreover, the rules-driven platform also gives users the flexibility to make changes or modify processes as workflows evolve and are optimised. Secondly, the advanced case management capability of FINEOS Claims will enable mission-critical data to be gathered and held in one accessible location ensuring that even the most complex case types can be easily managed. This is important for bodily injury claims where a number of third parties are usually involved in the claim such as physiotherapists and medical staff. Finally, Manitoba Public Insurance felt that it could build a good working relationship with the FINEOS team and was impressed with the time that senior management were prepared to invest in the project.
Manitoba Public Insurance will now benefit from membership of the FINEOS Global Community which meets regularly to work with FINEOS management to define the direction of FINEOS Claims and to learn about best practices in claims management from enterprises facing similar business challenges. FINEOS counts a number of public insurers among its client base including the Accident Compensation Corporation (New Zealand), the Transport Accident Commission (Australia), Worksafe Victoria (Australia) and the Road Accident Fund (South Africa).
�We are very pleased to add such a reputable insurer to our growing global client base for FINEOS Claims, as well as continuing to expand our presence in Canada and our market leadership in serving government entities in public insurance claims management�, says Michael Kelly, CEO, FINEOS Corporation. �FINEOS Claims will help Manitoba Public Insurance to achieve operational excellence, while providing value and enhanced customer service for all Manitobans�.
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.