London, 13th March 2003 - FINEOS Corporation, a leading innovator of banking
and insurance software, has just announced that Delta Lloyd NV, a member of
the international insurance group AVIVA plc (formerly CGNU plc), has gone
live with its multi-channel intake and general insurance claims management
system, FINEOS Claims Manager.
Implemented over eight months, the FINEOS system fully automates and
streamlines Delta Lloyd's personal injury claims process, thereby reducing
the manual costs associated with processing these claims as well as leading
to an improvement in customer service.
The system provides Delta Lloyd with integrated, up-to-date claimant
information, regardless of the channel through which claims intake is
conducted. It automates all contact, workflow, and case management and the
bulk of the many error-prone, manual tasks associated with its claims
handling, as well as providing intelligent tracking of tasks to ensure that
service levels are maintained.
The process automation and management information that FINEOS generates
leads to faster and more reliable settlements. Previously settled matching
cases are easier to find on the FINEOS system and also fraudulent claims
paid out are significantly reduced through greater transparency. In
addition, the improved management information from the system enables Delta
Lloyd to improve its risk assessment and reduce its total annual damages
Commenting on the announcement, Jan Jonker, Director of General Insurance
Division, Delta Lloyd, said: "The FINEOS implementation has been a great
success - both companies worked well together and we are very pleased that
the system was implemented on time and within budget. The key benefits for
Delta Lloyd with this FINEOS system is that it improves the reliability of
our claims prediction and enables us to pay out claims faster, which means
we are paying less. By settling claims more quickly, it actually helps us to
reduce the total damages we pay each year. This is a huge advantage for
Michael Kelly, CEO of FINEOS, added: "We are delighted with the
implementation of FINEOS at Delta Lloyd. Within the current economic
climate, more and more financial services companies need to buy readymade
software products, like FINEOS, which can be implemented fast and
effectively without risk and which deliver a return on investment very fast.
At FINEOS we pride ourselves in our ability to deliver effective business
solutions with our partners and customers."
With industry analysts Datamonitor calculating that EUR1.7 billion will be
spent on claims processing in Europe by 2004, this latest FINEOS
implementation - following notable successes in the U.S., including Fortis,
Inc. - is another milestone in the company's strategy to become the number
one global provider of claims management systems.