Dublin/London, 6th March 2002 - FINEOS, a leading global provider of enterprise solutions for insurance and banking, has just announced that Skandia, one of the world's leading savings and insurance companies, is to implement its enterprise CRM (customer relationship management) and workflow solution in Denmark.
The deal supplies three Skandia companies in Denmark with a 100-seat licence for the FINEOS Service Centre and Workflow Manager applications, and represents FINEOS's first sale in the Scandinavian market. Skandia selected FINEOS as the preferred supplier after a competitive tender, which included two of the market's leading vendors.
The FINEOS solution will be implemented across three Skandia business operations and will allow the companies to seamlessly integrate and fully unify the sales process for its unit linked pensions business, SkandiaLink; its life assurance and pensions business, Skandia Liv; and its health insurance business, Skandia Lifeline.
Due to go live in June 2002, the solution will provide the Skandia companies with effective management of all administration processes associated with new business, as policy applications will be intelligently routed through the pre- and post-approval processes, irrespective of whether it is a pension or insurance policy. Sales and service staff will also be able to access a common customer and policy overview across all operations, thus ensuring that the progress of applications can be effectively managed and monitored at all times.
A key benefit of the implementation for the Skandia companies is that efficiency will be significantly improved through enabling a higher volume of policies to be processed at the current cost base. The FINEOS solution will also deliver better customer service through eliminating data duplication and error-prone manual processes.
Commenting on the announcement Hanne Christensen, COO, Skandia Liv said:
"By unifying the sales process across our two pension companies and our health and life insurance operations, Skandia will be in a position to operate much more effectively at a reduced cost. The FINEOS solution gives us the ability to process policies seamlessly across the three operations, thus increasing the volume of business we can facilitate without increasing the number of service staff. The choice of FINEOS in this project reflects the inherent flexibility that their solution offers. We definitely felt that their component-based approach would not only unify the sales process effectively, but would give us the most scope for further development of our business."
According to SÃ¸ren Schock Petersen, COO, SkandiaLink: "When undertaking this project, Skandia wished to find a solution that would deliver a seamlessly integrated new business administration process across our three operations. In the selection process we received valuable help from Andersen, and together we found that FINEOS represented the best fit in helping us to realise our goal. By fully automating the process, we can now monitor the status of customer applications at the touch of a button.
The solution allows us to deliver a much more complete and high quality service to our customers, and increases our efficiency on all fronts. The real bonus is that we can grow our business quickly, without having to increase our workforce."
Michael Kelly, CEO, FINEOS, commented: "Skandia in Denmark is our first Scandinavian customer and to have such a respected organisation on our client list is a great endorsement of FINEOS. As in the past, our expertise and knowledge of the financial services industry has won us this deal in preference to the CRM market leader, and I am confident that successful delivery on this deal will ensure further successes in the Scandinavian market and globally."
The deployment of the FINEOS CRM solution represents the first phase in a three-phase implementation for Skandia in Denmark. The further phases of the project will involve the implementation of the FINEOS Document Management and Imaging solution followed by full CTI (computer telephony integration) with the Skandia business operations.
Media Relations Manager
Tel: +353 (0)1 6399923
COO, Skandia Liv
Tel: +45 3687 4640