FINEOS Corp., a provider of enterprise software solutions for insurance, has announced the release of its new product to manage workers' compensation claims in the U.S.
The new product has been developed to address the specific requirements of the U.S. market, which is characterized by complex multistate compliance and reporting requirements. The product builds on FINEOS' worldwide experience in handling injury and disability claims to help U.S. carriers address these challenges.
FINEOS Claims for Workers' Comp offers insurance carriers, TPAs, self-insureds, state funds, and other government entities complete claims life-cycle management, including intake, payments, reserves, provider management, and other claims processes. It delivers rules and workflow capabilities to accommodate changes to product definition, U.S. regulatory requirements, and internal processing policies.
"We believe this is an underserved market that will benefit from the world-leading capabilities FINEOS Claims can offer," says Michael Kelly, CEO of FINEOS. "U.S. workers' compensation is an industry with significant environmental issues, including medical inflation, indemnity costs, and regulatory challenges."
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