FINEOS Corporation, a provider of claims management software, announces the release of FINEOS version 7.5, the latest release of its claims management platform. The latest version includes a newly designed user interface (UI) and a comprehensive set of out-of-the box features to improve ease of use and promote faster adoption. 

"FINEOS Claims is a full feature 'out-of-the-box' claims system that is delivered with industry best practice business content, documentation and business training to enable organizations to quickly exploit the product within their business," says Michael Kelly, CEO of FINEOS. "The system can be configured and implemented quickly for the large enterprise carriers as well as smaller claims organizations and this is testament to the maturity, leadership and solidity of the product."

FINEOS 7.5 offers the following enhancements:

• Automation of complex payment-related calculations including US FICA, FIT & SIT taxes, partial & optimum earnings offsets, index-tracking cost of living adjustments (COLA) and statutory interest on payment of a death benefit.
• Pre-configured processes to manage each stage in the claims lifecycle including information gathering from third parties, eligibility rules, mandated timeframes for the initial claim decision, benefit approval authority limits and associated workflow and low-touch processing.
• Pre-configured claim intake scripts designed for use in both a call center environment and in the back-office where the ability to transcribe rapidly from a manually completed paper claim forms is key.
• New Vocational Rehabilitation Plan component to the electronic claim file, providing a structured approach to the vocational rehab process from planning through goal-setting to the measurement of outcomes.
• New Claimant Viewpoint providing 24/7 self-service access to live claim status and payment data, as well as secure document submission and messaging facilities.
• New User Interface built using HTML 5 to create an ultra-clean look to improve user efficiency. Key information is available at-a-glance with fewer clicks to access common actions and navigate around a multi-benefit claim. A single chronological view is provided of all events and activity that have taken place over the life of a claim.
• Ability to use solution on a desktop or tablet is fully supported out-of-the-box.

"FINEOS 7.5 enables disability and life insurers to benefit from the massive investment we have made in features and capabilities, allowing them to get up and running quicker," says Jonathon Boylan, FINEOS CTO. "This solution offers a compelling option for insurers using increasingly costly legacy systems or those dealing with the challenges of systems not designed especially for disability and life claims".