FINEOS Corporation, a software provider for insurance and banking, has announced the release of FINEOS Investor for the North American insurance market, a carrier-based application the company claims will benefit agents as well.
According to Portland, Me.-based FINEOS, the new software is “a complete front-to-back-office customer and contract management system for developing, administering and distributing annuity, savings and investment products.”
The product is designed for mid-range life insurance carriers who choose not to build their own sales, product development and administration systems, says Leo Corcoran, senior vice president for sales at FINEOS.
The system combines front-end agent and customer sales and service functionality with a product development engine and contract maintenance capability, the company says.
According to Corcoran, the primary benefit to agents is the agent/broker portal provided by FINEOS as part of the system. The portal provides Web-based data for agents and brokers, including lead generation and customer contact management. “The agent receives this as [an application service provider function] from the carrier,” he explains.
The FINEOS application itself resides on the carriers systems, with carriers providing the portal to agents if they wish to do so, says Corcoran.
FINEOS Investor lets users capture customer and policy information through the Internet, call centers and branch offices, “then use its workflow components to automate every administrative task needed to deliver products and services,” the company notes.