FINEOS Absence for Employers provides employers access to an extensive and powerful purpose-built absence management solution that already supports 30 million employees across North America
(ATLANTA) FINEOS Corporation (ASX:FCL) FINEOS today announced the availability of FINEOS Absence for Employers, a robust absence and disability management solution offered direct to employers to help human resources teams holistically administer multiple types of leaves of absence in the way that reflects their company approach to employee engagement and care. FINEOS Absence for Employers enables HR departments to address the substantial complexity of federal, state, and local leave laws and accommodations within one cloud-based system. Using FINEOS Absence for Employers, HR teams can redirect valuable resources away from drawn-out administrative tasks to focus on the personal care employees need at important life moments. FINEOS Absence for Employers is based on the proven leave and disability claims technology on the FINEOS Platform used by insurance carriers that currently supports more than 30 million employees across North America.
Key highlights of FINEOS Absence for Employers:
- Proven, out-of-the-box cloud-based solution with federal, state, and local leave plans configured and maintained
- Company-configured self-service options for HR teams, managers and employees
- Robust payments engine for both disability and paid leaves
- Dynamic reporting powered by AWS QuickSight that supports strategic HR decision-making
- Adaptable portal interface that adopts employer branding, messaging, and communication standards
FINEOS Absence for Employers is part of the proven purpose-built line-up of employee benefits solutions on the FINEOS Platform, which is based on the FINEOS IDAM solution for carriers, which supports:
- 8.5 million employees covered for absence management
- 30 million employees covered for disability management
- 30,000 end users
- 30 carriers in North America
- $18.6b in paid claims
“No other technology stack exists that empowers both insurance carriers and employers in the same way as the FINEOS Platform. FINEOS Absence for Employers is a natural extension of the our mission to help our clients care for the people they serve through the delivery of superior technology,” said SVP of Absence and Claims Christy Traupe.
Michael Kelly, FINEOS CEO, said “FINEOS Absence for Employers represents a new market for FINEOS, making our purpose-built employer solution available directly to companies that want to keep their employees’ leave experience in-house, but find the complex hierarchy of laws too complex and burdensome to manage on their own.”
HR departments want to do their best for their employees, but many are overwhelmed by the rules involved in short- and long-term disability, federal and state leaves, parental leave and accommodations, to name a few.
FINEOS Absence for Employers is already in production with a go-live expected this spring at a multistate property and casualty insurance company with more than 50,000 employees. A second instance is to follow in early summer at another large U.S. employer.
To find out more about FINEOS Absence for Employers, connect with FINEOS.
About FINEOS Corporation
FINEOS is a leading provider of core systems for life, accident and health insurers globally with 7 of the 10 largest employee benefits insurers in the U.S. as well as a 70% market share of group insurance in Australia. With employees and offices throughout the world, FINEOS continues to work with innovative, progressive insurers in North America, EMEA, and Asia Pacific.
