SOFTWARE:Fineos Corporation, the Dublin-based claims management software company, says it has grown its customer base by 10 per cent in the last quarter after closing four major deals in the US and Australia.
Fineos sells to companies in the insurance sector as well as to government agencies that handle injury compensation schemes.
The company's flagship software product, Fineos Claims, handled €2 billion of insurance claims payments in the past 12 months and the company estimates that 40 million claims are now in its system around the world.
According to Fineos, its software processes claims for five of the top 11 group life and disability insurers in the US; all injury and illness compensation claims in New Zealand; 30 per cent of all government injury and illness claims in Australia and has a 30 per cent share of the general insurance market in Ireland.
The company disclosed the numbers as more than 100 senior insurance executives from North America, Europe, Africa and Asia arrived in Dublin for the company's global summit.
According to accounts filed last year, Fineos made a pre-tax profit of €4.9 million on revenues of €32.5 million in its financial year which ended in June 2010.
GORDON SMITH
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