Insurance Company Selects New Manager

FINEOS Corporation, a global provider of innovative enterprise software solutions for insurance, bancassurance, and government, today announced that Manitoba Public Insurance of Canada has selected FINEOS Claims to manage accident claims for bodily injury resulting from road accidents. The finalisation of the contract came about as the end of a long and tender procedure.

Commenting on the announcement, Dan Guimond, Vice-President, Business Innovation and Insurance Operations at Manitoba Public Insurance said, €œImproving efficiencies in claims processing underpins our strategy to maintain and improve the highest levels of claimant satisfaction for Manitobans. We believe that FINEOS Claims is a best of breed solution that offers us the flexibility and configurability to deliver our clients access to superior products, coverage and value€.

Manitoba Public Insurance is a non-profit Crown corporation based in Manitoba, Canada that has provided basic public auto insurance since 1971. In addition to running its own claim centres and customer service centres, the corporation partners with more than 300 independent insurance brokers to provide insurance and driver€™s licence products and services to about 750,000 customers across the province. Over 1,700 people are employed by Manitoba Public Insurance. Its basic automobile insurance product is known more informally as Autopac. Basic automobile insurance is compulsory in Manitoba and is only available through Manitoba Public Insurance. Extension insurance products (lower deductibles, increased insurance coverage, etc.) are sold in competition with the private sector.

Basic automobile insurance is compulsory in the province and is only available through Manitoba Public Insurance. FINEOS Claims will be used to improve operational efficiency by increasing straight-through processing and the automatic resolution of tasks, thereby reducing reliance on manually intensive processes.

FINEOS was awarded the contract following a rigourous tender process. Three key areas of demonstrable capability were critical in the selection of FINEOS Claims. Firstly, the inherent configurability of the system will enable Manitoba Public Insurance to work with their existing systems and processes rather than forcing them to conform to a predetermined model. Moreover, the rules-driven platform also gives users the flexibility to make changes or modify processes as workflows evolve and are optimised. Secondly, the advanced case management capability of FINEOS Claims will enable mission-critical data to be gathered and held in one accessible location ensuring that even the most complex case types can be easily managed. This is important for bodily injury claims where a number of third parties are usually involved in the claim such as physiotherapists and medical staff. Finally, Manitoba Public Insurance felt that it could build a good working relationship with the FINEOS team and was impressed with the time
that senior management were prepared to invest in the project.

Manitoba Public Insurance will now benefit from membership of the FINEOS Global Community which meets regularly to work with FINEOS management to define the direction of FINEOS Claims and to learn about best practices in claims management from enterprises facing similar business challenges. FINEOS counts a number of public insurers among its client base including the Accident Compensation Corporation (New Zealand), the Transport Accident Commission (Australia), Worksafe Victoria (Australia) and the Road Accident Fund (South Africa).

€œWe are very pleased to add such a reputable insurer to our growing global client base for FINEOS Claims, as well as continuing to expand our presence in Canada and our market leadership in serving government entities in public insurance claims management€, says Michael Kelly, CEO, FINEOS Corporation. €œFINEOS Claims will help Manitoba Public Insurance to achieve operational excellence, while providing value and enhanced customer service for all Manitobans€.

Sofia is an author of several articles pertaining to No Win No Fee, Compensation Claims, Accident Claims, Personal Injury Claims and other legal articles.

Tags: automobile insurance, insurance product, road accidents