FINEOS and Empathy Partner to Bring Complete Support to Life Insurance Beneficiaries
Through interlocking technology and user experience, the companies will enhance the claims journey for life insurers and the families they serve
ATLANTA--(Business Wire / Korea Newswire) February 22, 2023 -- FINEOS Corporation (ASX:FCL), the leading global provider of SaaS enterprise claims software for the life, accident, and health industry, and Empathy, a platform helping families navigate the emotional and logistical challenges of a loved one’s passing, today announced a partnership to extend life insurance carriers’ offerings to families dealing with loss.
It’s estimated that families spend an average of 13 months after a loved one’s death completing necessary tasks on top of the emotional struggles that accompany the loss. While payouts provided by life insurers are instrumental in softening the financial blow, families are often in need of additional resources to navigate the administrative and psychological hurdles. The partnership between FINEOS and Empathy will equip life insurance carriers with the technologies and services they need to provide the comprehensive support their customers deserve.
FINEOS and Empathy offer unique solutions for insurance companies to better support their beneficiaries. Life insurers can rapidly deliver on the financial protection promised using the automation and personalization of FINEOS Claims. The no-code configuration capabilities of FINEOS Claims allow Empathy to be integrated into intake call scripts, process flows, and self-service portals to help families wind down a loved one’s affairs with full administrative assistance for tasks like funeral planning, navigating probate, and closing accounts, as well as emotional support like on-demand grief counseling and guidance for returning to work.
“This partnership simply makes sense, since Empathy helps deliver on our goal of elevating the claims experience,” said FINEOS CEO Michael Kelly. “Together, our companies will raise awareness of the combined benefits we bring to life insurers and help benefit the customers they serve during some of life’s most difficult times.”
“I am delighted to partner with FINEOS in order to further our core mission of helping grieving families deal with the logistical and emotional challenges of loss,” said Ron Gura, co-founder and CEO of Empathy. “Modern life insurance carriers understand that customers seek comfort, stability, and peace of mind in addition to their policies. FINEOS is at the forefront of harnessing the latest innovations to benefit life insurance policyholders, including using technology to streamline once-cumbersome processes like claims and onboarding. We look forward to seeing how this partnership helps serve a vital need for the life insurance industry: alleviating the administrative burden of losing a loved one.”
FINEOS is a leading provider of core systems for life, accident and health insurers globally working with 7 of the 10 largest employee benefits insurers in the U.S. and with a 70% market share of group insurance in Australia. With employees and offices throughout the world, FINEOS continues to work with innovative, progressive insurers in North America, Europe, and Asia Pacific.
To learn more, visit www.fineos.com.
Empathy’s mission is to help families deal with the practical and emotional burdens they face after experiencing loss. Empathy’s 24/7 Care Team and award-winning app provide families with all the tools, resources, and information they need to navigate the administrative responsibilities and emotions of loss. Headquartered in New York, Empathy partners with leading employers, Fortune 100 companies, insurers, and more to assist and guide their customers and employees during one of the most difficult times in their lives. To learn more visit us at empathy.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230221005071/en/
FINEOS Media Relations Lead
Audrey Honig Geragosian
+1 860 538 6638
+1 786 233 7684
This is a news release distributed by Korea Newswire on behalf of this company.