- Supporting intelligent digital transformation at scale
- Realizing real operational efficiencies through innovative technologies
- Accelerates new business model opportunities through enhanced capabilities
London, May 22, 2022 /PRNewswire/ — Ernst & Young announced today that FINEOS, the global market leader in core systems for life, accident and health insurers, has formed an alliance with Ernst & Young Business Consultants (EY Ireland). The alliance will help operators achieve intelligent digital transformation. In addition, it will positively impact the employee benefits value chain from insurers and employers to employees, while achieving tangible operational efficiencies. The alliance has also expanded to the United States, with plans to expand further globally over time.
The EY team has been working with FINEOS to implement software with a range of life, accident and health insurers, aiming to help companies on their transformation journeys through a variety of technologies and services, from consulting to on-site execution and integration.
The need for a digital employee benefits space
Many insurers currently employ manual steps, resulting in many inefficiencies. As a result, operators increasingly need to leverage digital and analytics solutions while redesigning customer operations and service models.
The alliance provides customers with the technology they need to help achieve these transformational goals. It will also help the EY team build services around teams that have successfully deployed the FINEOS platform.In addition, FINEOS has built a leading cloud-based end-to-end software-as-a-service (SaaS) core product suite covering the insurance lifecycle, including quoting, grading and underwriting, absences, claims, policy administration and billing. FINEOS and EY teams can Bring artificial intelligence (AI) and machine learning capabilities, as well as through data analysis software FINEOS participation, FINEOS Insights and Ernst & Young Link.
The industry knowledge and global reach of the EY organization and FINEOS will help clients from all over the world accelerate intelligent digital transformation. Ultimately, the alliance will help accelerate innovation and digitization of the employee benefits market.
Mathias Rowethe EY Global FINEOS Alliance Sponsor said:
“The collaboration between the Ernst & Young organization and FINEOS will help clients optimize the value of their digital transformation efforts. By combining the FINEOS platform with the consulting capabilities of the Ernst & Young team, insurers may increase their success rates and the total value they realize as they build a future-proof organization.”
Jason T.AndrewFINEOS Chief Alliance Officer said:
“As the global life, accident and health insurance markets continue to rapidly transform, the new alliance with the Ernst & Young organization brings additional business and technology experience and systems integration capabilities to help clients achieve their goals. As FINEOS continues to actively invest in New products and growth plans, we want to ensure that our customers have access to the market support and system integration knowledge that is critical to their transformation plans. As implementation progresses around FINEOS New Business and Underwriting, FINEOS Claims and FINEOS Absence, This announcement reinforces our commitment to building strategic alliances to better support our clients’ digital transformation efforts.”
About Ernst & Young
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This press release is issued by EYGM Limited, which is a member of the global EY organization and does not provide any services to clients.
FINEOS is the world’s leading provider of core systems for life, accident and health insurance companies, with 7 of the 10 largest employee benefit insurers in the United States and 6 of the largest life insurers in the United States Australia. With employees and offices around the world, FINEOS continues to rapidly scale, partnering with innovative, progressive insurers North America, Europeand Asia-Pacific.
this FINEOS Platform is the only end-to-end SaaS insurance solution purpose-built for the life, accident and health markets.this FINEOS AdminSuite Provides industry-leading capabilities in core management, including absence management, billing, claims, payments, policy management, vendor management, and new business and underwriting; all of which can be configured to operate independently or as a suite.machine learning enabled FINEOS participation solutions that provide a robust, human-centred approach to digital engagement and FINEOS Insights The solution provides predictive analytics and reporting across the enterprise.
For more information, please visit www.FINEOS.com.
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Source Ernst & Young