Irish insurtech company FINEOS has partnered with Sutherland, a company focused on digital transformation services including insurance third-party administration (TPA).
The collaboration aims to streamline absence and leave management for US employee benefit carriers with an AI-powered solution.
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This AI offering is designed to improve compliance and simplify leave administration processes, Sutherland said in a statement.
The partnership is said to help carriers scale “efficiently” by integrating the FINEOS Absence platform, tailored for employee benefits, with Sutherland’s expertise in AI and automation-driven business-process-as-a-service (BPaaS).
It aims to offer an integrated software and service solution that modernises leave management, enabling group insurers and administrators to manage employee leave for their clients.
The model allows for in-house transitions without the need for disruptive system conversions.
The alliance addresses challenges faced by carriers with legacy systems by providing automated workflows, enhancing compliance and cutting down administrative load.
FINEOS CEO Michael Kelly said: “This partnership is a game changer for employee benefits carriers looking for a faster, more efficient way to manage leave programmes.
“By integrating the industry’s leading absence platform with Sutherland’s operational expertise, we offer a seamless, scalable solution that helps carriers overcome current vendor challenges and transition effortlessly to a best-in-class system.”
The alliance equips carriers with technology to “future-proof” their absence and group benefits administration.
Sutherland Insurance CEO Banwari Agarwal stated: “The future of insurance is digital-first, and carriers need agile, intelligent solutions that deliver efficiency, compliance and superior experiences. Our partnership with FINEOS is a strategic move to bring cutting-edge automation and process transformation to absence management, helping insurers modernise operations and create long-term value.”
In December last year, FINEOS introduced the FINEOS Partner Hub, a platform offering a selection of partners whose services can be integrated with the FINEOS Platform to further improve customer experiences.
