Life, accident and health insurance system core systems provider FINEOS has been selected by New Zealand life and health insurance provider Partners Life for life insurance and medical claims.
This followed a market evaluation of claims management system vendors and the partnership would bring changes focused on replacing existing claims systems and processes with a differentiated value proposition.
It would bring key operational benefits which included efficient, integrated and automated workflow processes and accurate claims covering life, total permanent disability (TPD), trauma, income protection and medical products.
The contract for the software as a service provider (SaaS) was for five years.
Tracey Lonergan, Partners Life chief claims officer, said it was important for the firm to find a credible provider.
“Also important to us was that the selected vendor come with a strong record of successful implementations and strong support of its claims management system with New Zealand and Australian life and health insurance industry,” Lonergan said.
“Our initial collaboration has been extremely positive, and we envisage that the project will deliver high quality results.”
Michael Kelly, FINEOS chief executive, said: “This is an exciting project for us in New Zealand and we look forward to a fast and smooth system implementation to enable the benefits of using FINEOS as early as possible thereby delivering a high-level service to its customers and independent financial advisers across New Zealand”.