(Atrium of Lloyd’s of London headquarters on Lime Street, London. Photo credit: Colin.)
FINEOS Corporation has launched an enhanced version of its FINEOS Claims solution to support ECF Write Back. The vendor debuted the new functionality event on Write Back organized by Lloyd’s to provide an opportunity for London Market carriers to meet with the software providers involved in the first phase of ECF Write Back delivery.
Introduction of the new Write Back interface enables FINEOS customers to operate entirely within their own system, reviewing and responding to claims without direct recourse to the central systems, according to a vendor statement. The FINEOS Write Back solution insulates businesses from the complexity of messaging, allowing them to process information in real time across various platforms, the vendor asserts.
“Managing Agents who use FINEOS will be able to differentiate themselves from their competitors by adding genuine value to their claims service,” comments Michael Kelly, CEO, FINEOS. “By using a single operating model across all bureaux and markets, carriers can reduce duplication effort and overall claims cycle times.”
Currently, ECF functionality allows claims data and documentation submitted by a broker to be accessed, viewed and responded to by a carrier, FINEOS reports. Write Back will enhance the level of claims data received from the broker to near real time and allow the receipt and re-sending of claim documents, enabling carriers to build their own ‘view’ of a claim and respond internally, sending data and documents back to the market systems, the vendor says.