FINEOS Claims for Workers’ Compensation has been expanded to offer capabilities developed specifically for the U.S. market, including preconfigured business content in areas such as fraud detection and medical management. The claims processing system is designed to provide insurance carriers, third-party administrators, self-insureds, state funds and other government entities with a complete claims lifecycle management system that includes intake, payments, reserves and provider management.
Wolters Kluwer is best known for providing insurance compliance tools that help professionals identify, understand and comply with U.S. insurance regulation. The company, which acquired U.K.-based Compliance Online last year, recently announced a deal to offer UK-based insurers compliance solutions that address challenges related to regulatory research, policy management, personal account dealing, anti-fraud, corporate actions and anti-money laundering.
Ireland’s FINEOS has built a reputation in the workers’ compensation arena with clients all over the world, including the Accident Compensation Corporation (ACC) of New Zealand, WorkSafe Victoria in Australia, and the Saskatchewan Workers’ Compensation Board in Canada.
In the U.S., FINEOS primary focus is on disability claims solution, with customers such as Principal Financial Group, Assurant, ING, Mutual of Omaha and others already processing their claims on the FINEOS system. Working with Wolters Kluwer Financial Services, FINEOS will now be in a position to address the specific claims and compliance requirements of the U.S. workers’ compensation market.
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