FINEOS Corporation (ASX:FCL) today announced that American Public Life Insurance Company (APL), a leading provider of supplemental worksite benefits, has invested in the FINEOS Platform for New Business & Underwriting for eight lines of business.
“By leveraging the FINEOS Platform, we’ll be able to improve user experience with a powerful core system that automates processes which have historically been manual for us,” said Jerry Horton, President/CEO of APL. “This partnership will enable us to speed up quote turnaround time, improve accuracy, and reduce risk to drive our organization’s growth and strategic innovation. Our customers will benefit from better service because of our decision to move from on-prem legacy systems to the cloud-based FINEOS Platform.”
This investment comes as APL looks to improve operational efficiency and prepares to roll out three new product lines which they will license the FINEOS Platform for, in addition to five existing lines of business. The cloud-based FINEOS Platform for New Business & Underwriting automates workflows and decision-making throughout the quoting lifecycle, from request for proposal intake to policy implementation. Modern API service layers provide simplified integration with legacy systems and third-party ecosystems.
“We’re thrilled about this partnership with APL and look forward to supporting them in achieving their organizational goals,” said Michael Kelly, CEO of FINEOS. “With the FINEOS Platform for New Business & Underwriting, APL will be able to provide a superior digital user experience at every touchpoint of their quoting, rating and underwriting processes.”
The deal with APL follows a year of unprecedented go live success for FINEOS in 2020 with 10 major carrier clients going live with 8 new installations and 7 upgrades of the FINEOS Platform for Employee Benefits.
For more information about the FINEOS Platform for New Business & Underwriting, please visit https://www.fineos.com/market-solutions/new-business-and-underwriting-solution.
About FINEOS Corporation
FINEOS is a leading provider of core systems for life, accident and health insurers globally with 7 of the 10 largest group life and health carriers in the US as well as 6 of the largest life insurers in Australia. With employees and offices throughout the world, FINEOS continues to scale rapidly, working with innovative progressive insurers in North America, Europe, and Asia Pacific.
The FINEOS Platform provides core administration capabilities including integrated disability and absence management (IDAM), billing, claims, payments, policy administration, provider management and new business and underwriting; all of which are configurable to operate independently or as FINEOS AdminSuite the leading Employee Benefits end-to-end core administration suite.
For more information, visit www.FINEOS.com.
About American Public Life
Founded in 1945, American Public Life Insurance Company (APL) continues expanding the benefits horizon as a leading provider of voluntary worksite benefits with offices in Jackson, MS and Oklahoma City. APL is licensed to conduct business in 49 states with sales through select independent brokers and has a financial rating of “A+ (Superior)” through A.M. Best (www.ambest.com). For more information, please visit ampublic.com.