Fineos signs Canadian deal
Irish Insurance software company, Fineos has signed a deal with a Canadian teachers’ society to manage claims and payments from its benefits plan.
The announcement was made during an Enterprise Ireland trade mission to Canada led by Minister for Jobs, Enterprise and Innovation Richard Bruton.
The deal is Fineos’ fifth Canadian client, joining the Royal Bank of Canada and Manitoba Public Insurance.
The Manitoba Teachers' Society (MTS) will use Fineos Claims to manage the claims and rehabilitation process arising from its insurance plan owned and operated for teachers, including payment for loss of earnings and medical expenses.
“The collaboration between Fineos and the Manitoba Teachers' Society is a very welcome addition to Fineos' already impressive customer base in Canada,” Mr Bruton said. “This is an innovative Irish company which has invested strongly in R&D and is now enjoying success in export markets, contributing to jobs and growth in Ireland.”
In total, Fineos has added four new customers to its global customer base in the last quarter, including two in Australia and a tier one insurance organisation in the US.
Fineos chief executive Michael Kelly said it was due to a major R&D investment programme over the past two years.
“This deal with MTS is very exciting as they will be implementing many of our most recent features and they will perform the majority of the solution implementation work themselves, with training and support provided by Fineos,” he said. “The fact that we will have minimal involvement in the system implementation demonstrates the 'out of the box' ready to go nature of our solution."