A multinational professional services network, Ernst & Young (EY) has announced an alliance between the global market leader in core systems for life, accident and health insurers – FINEOS, and Ernst & Young Business Consultants (EY Ireland).

The alliance between the companies will help carriers achieve smart digital transformation, while positively impacting the entire benefits value chain, from insurers and employers to employees, while realizing efficiencies tangible operational.

In a press release, he notes that EY teams have collaborated with FINEOS on software implementations with a range of life, accident and health insurance companies with the aim of helping companies achieve their transformation journeys through to a wide range of technologies and services, from consulting to execution and on-site integration.

Additionally, while many insurance companies are currently undertaking manual steps that lead to a host of inefficiencies, however, there is a growing need for insurance companies to take advantage of digital and analytical solutions, while rethinking operations. customer and service models.

Therefore, the alliance will provide clients with the technology needed to achieve these transformation goals, while helping EY teams build services around the already successful teams currently deploying the FINEOS platform.

In addition, FINEOS has developed a cloud-based, end-to-end software-as-a-service (SaaS) core product suite that covers the insurance lifecycle, including quotes, pricing and underwriting, absences, claims, policy administration and billing.

EY notes that FINEOS and EY teams can contribute AI and machine learning capabilities, as well as data analytics software through FINEOS Engage, FINEOS Insight and EY Nexus.

EY said: “The industry knowledge and global reach of the EY organization and FINEOS will help customers around the world accelerate smart digital transformation. Ultimately, this alliance will help accelerate innovation and digitalization in the benefits market. »

Additionally, the alliance has also been extended to the United States, with further global expansion planned over time.

Matthias Loh, EY Global FINEOS Alliance Sponsor, said: “The collaboration between the EY organization and FINEOS will help clients maximize the value of their digital transformation efforts. By combining the FINEOS platform with the advisory capabilities of EY’s teams, insurance companies stand to increase the rate of success and the total value they realize by building their organizations ready for the future. »

Jason T. Andrew, Chief Alliance Officer of FINEOS, said: “As the global life, accident and health insurance market continues to rapidly transform, this new alliance with the EY organization brings additional business and technology experience and systems integration capabilities to help customers achieve their goals. Goals. As FINEOS continues to proactively invest in new products and growth plans, we want to ensure that our customers have access to the market support and system integration knowledge that is essential to their transformation plans.

“With ongoing implementations around FINEOS New Business & Underwriting, FINEOS Claims and FINEOS Absence, this announcement reinforces our commitment to forging strategic alliances to better support our clients’ digital transformation efforts.”

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