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FINEOS Introduces Annuity Administration System

By Staff Writer

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NU Online News Service, March 5, 12:11 p.m. – The U.S. unit of FINEOS Corp., Dublin, has introduced FINEOS Investor, a system for handling the development, administration and distribution of annuities and other savings and investment products.

FINEOS designed the system for large and midsize life insurers. It can work with mainframes, handle thousands of users at a time, and capture customer information through traditional branch offices as well as the Internet and call centers, FINEOS says.

The company set up a U.S. office in Portland, Maine, about a year ago and began making an aggressive push to enter the U.S. disability claims administration market. The company recently announced a contract to develop a disability claims system for Fortis Benefits Insurance Company, Kansas City, Mo., a unit of the Fortis group, Brussels.