(Mission Bay Beach, Auckland, New Zealand. Image credit: Thomas Necklen.)
Partners Life (Auckland), one of New Zealand’s largest private life and health insurance companies, has become the first insurer to successfully launch medical claims on the FINEOS Platform. The move to the cloud-native purpose-built FINEOS Platform enables Partners Life to provide enhanced claims processing, reduced claims leakage, and streamlined user experience to 300,000 people.
Daniel Walker, COO, Partners Life.
New Zealanders have a public health care system for their emergency care but may purchase private insurance to cover additional costs and reduce wait times for hospital treatment. Since its founding in 2011, Partners Life has grown from a startup to an important competitor. The insurer sought a software partner with a modern cloud-based claims solution to begin a digital transformation to better serve its customers. FINEOS says Partners Life chose the vendor based on its purpose-built platform, experience and capabilities, among other factors.
Early last year, Partners Life became the first life insurance company in New Zealand to go live on the FINEOS Platform, replacing its legacy system with FINEOS Claims for life, total and permanent disability (TPD), trauma and income protection. The second phase of the project, completed this year, brought the component-based capabilities of FINEOS AdminSuite to medical claims at Partners Life through the preconfigured FINEOS Life Insurance Solution Australasia (LISA). FINEOS LISA was created to meet the unique value proposition of the regional market in line with customer needs and within compliance requirements. FINEOS has published a case study on the initiative.
Michael Kelly, CEO, FINEOS.
“Partners Life employees and customers have already started to experience the benefits of this significant shift in operations,” comments Daniel Walker, COO, Partners Life. “Automation allows our case managers to do what they do best: help our clients who need them. Our operations are more efficient and we will build on these steps to improve our clients’ digital experience.”
Systematic Transformation
“Partners Life’s leadership has a vision of the future and how to reach their goals through systematic transformation,” comments Michael Kelly, founder and CEO, FINEOS. “What’s more, they have implemented a significant change management program to ensure their success. FINEOS LISA was configured to address this market, and we are pleased to be able to prove how its capabilities translate to medical claims.”