Principal Financial Group® Migrates to the FINEOS Platform to Deliver Advanced Digital Capability
30 Marzo 2021 - 3:10PM
Business Wire
The cloud-based FINEOS Platform will enable the
carrier to streamline their customer experience and adapt to
changing customer expectations
FINEOS Corporation (ASX:FCL), a leading core system provider for
the global life, accident and health insurance industry, today
announced that Principal Financial Group® will be migrating from
their on-premise FINEOS Claims system to the cloud-based FINEOS
Platform. Set to begin in 2021, the upgrade to the cloud allows
Principal to benefit from the security, scalability and efficiency
delivered by the FINEOS Platform.
“FINEOS is a service focused partner with a shared commitment to
the employee benefits market. Migrating FINEOS Claims to the
cloud-based FINEOS Platform will allow us to deliver a faster and
more streamlined customer experience through their innovative,
agile system,” said Cheryl Paine, AVP of specialty benefits claims
at Principal®. “Not only will this help us get benefit payments to
customers even more timely but also will position us to adapt more
quickly to evolving customer expectations.”
The FINEOS Platform provides core
administration capabilities including absence management, billing,
claims, payments, policy administration, provider management and
new business and underwriting; all of which are configurable to
operate independently or optimally as FINEOS AdminSuite, an
end-to-end core administration suite. The FINEOS Platform also
provides a wide range of APIs to enable digital engagement and
connectivity; and real-time analytics that utilize core system data
to enable business insights and automation.
“We’re thrilled to do this migration to the FINEOS Platform with
Principal Financial Group. They have been a service partner since
2005 and we look forward to seeing the positive impact this
migration will have on their customers’ satisfaction. The migration
will enable Principal to take advantage of the FINEOS APIs to drive
digital engagement, open connectivity, and a better overall digital
client experience.” said Michael Kelly, FINEOS CEO. “Today’s group
insurance carriers stand to benefit greatly from modern core
systems with robust digital capabilities that add value to their
products and allow them to keep up with rapidly changing employee
expectations.”
For more information on the FINEOS Platform please visit
www.FINEOS.com/platform.
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 absence management, billing,
claims, payments, policy administration, provider management and
new business and underwriting; all of which are configurable to
operate independently or as FINEOS AdminSuite, an end-to-end core
administration suite.
For more information, visit www.FINEOS.com.
About Principal
Principal helps people and companies around the world build,
protect and advance their financial well-being through retirement,
insurance and asset management solutions that fit their lives. Our
employees are passionate about helping clients of all income and
portfolio sizes achieve their goals–offering innovative ideas,
investment expertise and real-life solutions to make financial
progress possible. To find out more, visit www.principal.com.
©2021 Principal Financial Services, Inc. Insurance products
issued by Principal National Life Insurance Co (except in NY) and
Principal Life Insurance Co. Plan administrative services offered
by Principal Life. Principal Funds, Inc. is distributed by
Principal Funds Distributor, Inc. Securities offered through
Principal Securities, Inc., 888-774-6267, member SIPC and/or
independent broker/-dealers. Referenced companies are members of
the Principal Financial Group®, Des Moines, IA 50392.
1574431-032021
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Victoria Jamison Sr Marketing Manager FINEOS Corporation + 353 1
639 9700 victoria.jamison@fineos.com
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