Securian Canada is reportedly partnering with FINEOS Corporation, to provide claims administration technological support for its disability business. FINEOS made the announcement July 17, saying the FINEOS claims administration solution is scheduled to go live this fall to support Securian’s short and long-term disability benefits programs.
“The FINEOS Platform is purpose-built for the group and supplemental employee benefits market. More than a dozen customers in Canada use the FINEOS platform and FINEOS serves seven of the 10 largest employee benefits insurers in the United States,” the firm writes. It adds that it also has a 70 per cent market share of group insurance in Australia.
The firm says it is in the business of providing end-to-end core software systems for life, accident and health insurance providers. It promises to bring automation and efficiency to company processes, allowing companies to optimize and reconfigure processes as needed, accurately forecast reserves and improve their understanding of customer lifetime value.
Calling FINEOS a “best in class partner,” Sharla Postic, senior vice president of insurance operations for Securian says the development is intended to support the firm’s strategic plans – described as being ambitious – in the disability space. “We believe the FINEOS purpose-built platform and industry leading capabilities in disability claims administration will help us continue to raise the bar in providing innovative insurance products and services to our customers.”
