FINEOS and PwC Partner to Modernize Insurance Operations
FINEOS and PwC Formalize Alliance to Enhance Insurance Operations Modernization
FINEOS Corporation, a leader in core system solutions for employee benefits and life, accident, and health insurance, has formalized a strategic partnership with PwC. This collaboration focuses on modernizing insurance operations through digital transformation and integrating data-driven practices across the insurance lifecycle. The alliance reflects a commitment to addressing the industry's evolving regulatory compliance requirements.
The demand for seamless digital experiences amid legacy technology challenges has driven many employee benefits carriers towards advanced solutions. The cloud-based FINEOS AdminSuite, part of the FINEOS Platform, optimizes insurance operations from initial quotes to claims processing, benefiting employers, employees, and brokers. Since their initial collaboration in 2019, FINEOS and PwC have strengthened their partnership, leveraging PwC’s insurance consulting experience alongside FINEOS’s platform capabilities. This alliance aims to help insurers update core operations, manage risks efficiently, and scale services effectively.
Michael Kelly, CEO of FINEOS, stated, "Having worked closely with PwC on a number of our employee benefits clients, we are delighted to enter into a strategic partnership to migrate employee benefits carriers away from legacy core systems and onto our modern quote-to-claim platform, with embedded AI and FINEOS AdminSuite."
Rima Safari, Principal and FINEOS Alliance Leader at PwC US, commented, "We’re proud to work with FINEOS to help insurers navigate today’s complex landscape and prepare for tomorrow’s opportunities. This alliance combines industry-leading technology and practical industry insights to accelerate transformation and deliver a better experience for both members and employers."
Overview of FINEOS Solutions
FINEOS specializes in advanced core systems for the employee benefits and life, accident, and health insurance sectors. Numerous leading global carriers rely on the FINEOS Platform to simplify complex insurance administration, facilitate digital interactions, and provide actionable insights throughout the insurance lifecycle. The cloud-native framework supports transformation, accelerates product deployment, and aids compliance with regulatory standards such as FMLA, ADA, and PFML, ensuring improved outcomes and experiences within the benefits ecosystem.
PwC’s Role in Insurance Industry Transformation
PWC plays a crucial role in the insurance industry transformation by offering services to life, accident, health, and employee benefits insurers focused on modernization, risk management, and timely value delivery. PwC’s extensive industry knowledge supports these services, emphasizing effective methodologies that have proven successful in practice.
Together, FINEOS and PwC empower insurers to enhance operational efficiency and achieve better outcomes for carriers, employers, and members, whether updating obsolete systems or establishing a modern benefits infrastructure.
For more details, you can view the source article at businesswire.com.
Media Contact:
Victoria Jamison
Marketing Manager, FINEOS Corporation
[email protected]
Source: FINEOS Corporation