FINEOS Corp., a company offering software applications for the life, accident and health insurance industries, has released 8.0 of FINEOS Claims.

The latest release of FINEOS Claims includes more than 500 new features and improvements to FINEOS Claims Manager and FINEOS Payment Manager, the company said.

The release contains new features and extended functions, covering analytics, business operational insight, look and feel, as well as improved integration and configuration capabilities. Web services, automobile claims, payments and reserves are available as well.

A FINEOS component in Predictive Analytics will enable FINEOS customers to make informed decisions and match skills to problems. Predictive Analytics is available on premise or through the Cloud with FINEOS maintaining the algorithms. It is also available as a Cloud-based service for non-FINEOS customers. Predictive Analytics focuses on the claimant. Business Analyzer offers insight with a view of the portfolio. This allows FINEOS customers insight into trends and business patterns and uses graphical visualizations of process flows illustrating bottlenecks and strain points.

“The FINEOS Team has worked very closely with our customers, consultants and industry best practice leaders to develop this significant new release and ensure it is aligned with the changing market and customers’ needs,” said Michael Kelly, CEO, FINEOS Corp. “We have been actively engaged with our customers to engineer a product that measurably increases the quality of service, insurance companies can provide to their claimants.”

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