In this insightful episode of Insurtech Unplugged, Dan Watt, Chief Marketing Officer at FINEOS, and Sarah Holdaway, VP Product Management, dive deep into the crucial role of policy and member administration in modern insurance operations. As part of FINEOS AdminSuite, the Policy and Member module serves as the foundation for carriers looking to streamline processes, enhance automation, and improve the overall customer experience.
The Hub of Policy and Member Data
Dan explains the “hub and spoke” approach that FINEOS takes to policy and member administration—ensuring that data is not just stored but actively leveraged to power billing, claims, and AI-driven automation. The conversation highlights how maintaining accurate, up-to-date member records is critical for seamless integration within carriers’ ecosystems.
Customization and Flexibility for Carriers
One of the key differentiators of FINEOS AdminSuite is its adaptability. The discussion covers how the system supports unique policy structures, riders, optional coverages, and different administrative models—whether fully self-administered, third-party administered, or a hybrid approach. This flexibility ensures that carriers can configure solutions tailored to their specific business models and customer needs.
Seamless Integrations and the Future of Insurance Technology
With an API-first strategy, FINEOS AdminSuite is designed to integrate effortlessly with other platforms, including underwriting, quoting, benefits administration, and claims management. Dan and Sarah explore how the insurance landscape has evolved from a price-centric focus to one where connectivity and digital experiences are paramount.
Enhancing the Claims Process and Self-Service Capabilities
The discussion also emphasizes the critical link between policy, member, and claims data. By integrating these components, FINEOS enables automation, auto-adjudication, and a superior customer experience. Additionally, Dan shares how FINEOS empowers carriers with self-service functionality, allowing policyholders, employers, and brokers to access and update information efficiently.
Security and Compliance at the Core
In an era of increasing cyber threats and data regulations, FINEOS ensures security is embedded from the outset. The platform meets global compliance standards, including HIPAA and GDPR, providing carriers with confidence in data privacy and protection.
Watch Now
Don’t miss this engaging conversation as Dan and Sarah unpack how FINEOS AdminSuite is transforming policy and member administration for insurers worldwide. Watch the full video to learn how your organization can benefit from a fully integrated, modern insurance platform.
