Fineos Tapped For Irish Insurers Quinn

Fineos Corporation, a vendor of software products for insurance, bancassurance, and government, has announced that Quinn-Insurance, the second largest property and casualty insurer in Ireland, has gone live with its Fineos Claims product.

 

Fineos is now providing comprehensive enterprise claims management for Quinn’s private motor lines and will be used by 600 employees at Quinn’s insurance operations in Ireland. The second phase of the project will see the expansion of Fineos Claims to cover commercial lines and home insurance.

   

Colin Morgan, General Manager at Quinn-Insurance, says Fineos Claims is expected to deliver “improved efficiencies in claims processing.”

 

In April TMC reported that Fineos ranged a bit further, as BT (News - Alert) Insurance, a subsidiary of Westpac Banking Corporation in Australia, picked Fineos Claims to manage property and casualty lines.

 

Consumer credit claims for personal loan insurance and credit card repayment protection being managed by Fineos was also part of the deal. The software was to be used to "streamline claims management operations at BT Insurance by automating processes, improving quality of customer service and enforcing best-practice rules," according to BT Insurance officials at the time.

Michael Kelly, CEO of Fineos, called the deal "another strategic development for Fineos in the Australian market."

 

In the high claims volume insurance industry, particularly for motor claims, the general industry consensus is that it is critical that insurers can process more claims faster and with greater accuracy, qualities more crucial than in other aspects of the insurance field. Fineos Claims is expected to help Quinn automate its claims process and reduce administrative costs.

   

Fineos was selected by Quinn following an evaluation of software products available for general insurance (property & casualty) claims processing.

 

Quinn-Insurance has been the fastest growing insurance company in Ireland over the past 12 years, and is now the second largest insurer in Ireland. Fineos is headquartered in Dublin with offices in North America, Europe and Australasia.