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Partners Life (Auckland) has become the first life and health insurance company in New Zealand to go live on the FINEOS Platform, according to a statement from the Dublin-based global provider of group and individual life, accident and health insurance. The vendor describes the FINEOS Platform as a purpose-built end-to-end SaaS core platform for life, accident and health insurers.
Partners Life chose to replace its existing system with FINEOS Claims, with a view to enhancing operational and customer service benefits. The FINEOS Platform includes what the vendor characterizes a market-tested, pre-configured business and regulatory content pack for the region known as FINEOS LISA (Life Insurance Solutions Australasia). Internally, the company will experience improved risk controls and claims management workflow covering life, TPD, trauma, income protection and medical products, the vendor says.
Partners Life’s launch is the first stage of the company’s claims transformation journey, with medical claims debuting on the FINEOS Platform later this year. The vendor describes the launch as the foundation for the final stage where Partners Life clients will have access to digital self-service and elevated customer service.
“FINEOS has proven to be the strong partner within the New Zealand and Australian life and health insurance industry we needed,” says Daniel Walker, Chief of Operations, Partners Life. “Our clients, who are already managing health difficulties, will have an easier time accessing their benefits because of our digital transformation, and our employees are able to dedicate more time to helping them because of the benefits of automation brought by FINEOS.”
“Partners Life saw the direction the voluntary benefits industry is going and put itself ahead by investing in the power of a cloud-based core solution,” comments Adam Edwards, APAC product manager, FINEOS.
Deepening Engagement in the APAC Region
“It is exciting for FINEOS to deepen our engagement in the region, which dates back almost 20 years and involves six of the largest life insurers in Australia. Partners Life brings FINEOS to the private life and health insurance sector in New Zealand,” comments Michael Kelly, CEO, FINEOS. “With Partners Life experiencing the benefits of our partnership and the FINEOS Platform, I’m confident additional growth opportunities will follow.”
FINEOS describes the FINEOS Platform as providing a comprehensive SaaS end-to-end core solution for the Global Life, Accident and Health market. Key to the solution is the rich functionality that underlies FINEOS AdminSuite, FINEOS Engage and FINEOS Insight, a common set of capabilities including workflow, rules engine, customer management, no-code/low-code configuration tools, a standardized API connection and the cloud environment powered by AWS, according to the vendor.