FINEOS Claims for Life Insurance is a comprehensive software solution designed specifically for the unique needs of the life, accident and health insurance industry. Its integrated approach with FINEOS Policy, Payments, and Provider, coupled with its unified, state-of-the-art technology platform, enables carriers to easily navigate the complex and highly-regulated landscape of life insurance claims for groups and individuals.
FINEOS Claims for Life Insurance resides on the open core, cloud-based FINEOS Platform, powered by AWS and delivered as a Software as a Service (SaaS) model.
Key benefits of FINEOS Claims for Life solution
Increased carrier satisfaction
- Increased customer loyalty from simplified processes, streamlined communications, and faster claims settlements.
- Reduced frustration for customers and providers through a decrease in information requests, faster approvals, automated payments, and fewer follow-ups.
- Improved organizational agility and the ability to respond to change through user-configured features.
- Additional referrals and sales from satisfied customers who share their claims experiences with others.
Reduced Claim Expenses
- Reduced data entry and payment calculation errors by minimizing the need for manual claims.
- Decreased staff time and costs handling service inquiries about payment errors and delays.
- Reduced potential for payment fraud through AI-enhanced analytics, faster escalation, and automation
Improved Operational Efficiency and Effectiveness
- Decreased service backlogs from waiting on policy and coverage verification.
- Increased staff productivity from fewer claims service inquiries and requests for information.
- Streamlined compliance and audits through automated file assembly –available anytime.
- Increased efficiency from user-configured business rules for claims assignments, management escalations, and follow-ups.
- Reduced hardware and software costs by eliminating redundant data on multiple systems and leveraging a unified platform.
