Partners Life has become the first life and health insurer in Aotearoa to go live on the FINEOS platform, a web-based, SaaS core system for life, accident, and health insurance.
The partnership between Partners Life and FINEOS replaces the insurer’s system with FINEOS Claims and gives it customer service support capabilities including a market-tested, pre-configured business and regulatory content pack for the region known as FINEOS LISA (Life Insurance Solutions Australasia). Internally, Partners Life will experience improved risk controls and claims management workflow covering life, TPD, trauma, income protection, and medical products.
This is the first step in the insurer’s claims transformation journey, with medical claims debuting on the FINEOS platform later this year, and the final stage seeing Partners Life clients with access to elevated, digital self-service.
FINEOS APAC product manager Adam Edwards said Partners Life saw the direction the voluntary benefits industry was moving towards and “put itself ahead” by investing in a cloud-based core solution.
"FINEOS has proven to be the strong partner within the New Zealand and Australian life and health insurance industry we needed," said Daniel Walker, chief of operations at Partners Life. "Our clients, who are already managing health difficulties, will have an easier time accessing their benefits because of our digital transformation, and our employees are able to dedicate more time to helping them because of the benefits of automation brought by FINEOS."
