National Life Group Innovates Claims Processing with FINEOS AdminSuite
National Life Group Implements FINEOS AdminSuite for Enhanced Claims Processing
FINEOS Corporation, a key supplier of core systems in the life, accident, and health insurance industry, has announced that National Life Group has adopted their FINEOS AdminSuite. This strategic decision marks a significant move to modernize and automate National Life Group's Living Benefit and Life Insurance claims processes, aligning with regulatory compliance requirements and risk management goals.
Objective of Modernization
National Life Group aims to leverage this scalable platform to bolster its Living Benefit business while enhancing interactions with policyholders and beneficiaries. Nimesh Mehta, Executive Vice President and Chief Information and Strategy Officer at National Life Group, emphasized the platform's exceptional reputation in the insurance sector, showcasing its ability to transform operations efficiently.
System Integration Benefits
The integration of the FINEOS AdminSuite promises National Life Group a comprehensive cloud-native solution. This modern system is poised to improve claims accuracy, minimize manual tasks, and offer greater service flexibility, addressing regulatory and payer challenges within the insurance industry.
Industry Leadership Perspectives
Michael Kelly, CEO of FINEOS, welcomed National Life Group to their client community, stressing the shared goal of enhancing stakeholder outcomes through a modern core platform. He pointed out the strategic importance of adopting technology that effectively manages the complex nature of life and health claims processing, especially with the growing popularity of living benefits in the U.S. market.
Company Backgrounds
Founded in 1848, National Life Group remains a trusted provider of life insurance and annuities for families, businesses, and public service professionals. FINEOS, on the other hand, operates globally, offering SaaS core systems to over 40 clients across North America, including major claims and underwriting carriers in the employee benefits sector.
For further information, please contact Victoria Jamison, Marketing Manager at FINEOS, via Victoria.jamison@FINEOS.com.