Cigna Group Insurance (CGI) and FINEOS Corporation, a market leader in core systems for life, accident and health insurance carriers, have joined forces to develop the first comprehensive commercial software suite for group carriers. The solution, called FINEOS AdminSuite, is a unified platform that provides centralized policy administration, integrated claims and leave management, and complex billing and revenue management capabilities together with digital and analytics enablement to further enhance the experience for employers and their employees.
“Historically, to provide a digital experience, benefits administrators have simply put a web façade over their core legacy platforms,” said Matt Marze, Chief Information Officer, Cigna Group Insurance. “This short-term fix has limited innovation and the ability to adapt to market demands.”
Reimagining the Employee Benefits Digital Experience
Collaborating with FINEOS, CGI reimagined the needs of a modern benefits administration platform, creating a cloud-based software suite that introduces a new paradigm for the benefits administration industry.
“The CGI/FINEOS collaboration behind FINEOS AdminSuite is a game-changer in the benefits administration space, delivering a frictionless retail-like consumer experience to a market long underserved by available benefits administration solutions,” Marze added. “CGI provided the industry experience and vision to help define the modern platform needed by insurance carriers; FINEOS brought the product engineering expertise and technology experience befitting a global leader in complex claims administration.”
Together, the companies have created a platform that will improve the experience of employees, employers, and benefit providers.
The Employee Experience:
- Superior omnichannel customer service
- Employee’s information is shared across benefits, reducing duplicative data gathering and process steps thereby streamlining engagement
- Comprehensive digital self-service that is easy to navigate 24 by 7
The Employer Experience:
The ability to configure administrative services to match business process and culture for finance and HR benefit teams such as the ability to structure bills by locations, divisions, and employee classes while enabling multiple employer representatives to engage with the billing process.
- Ubiquitous policy information to streamline benefits administration
- Comprehensive digital self-service with role based access that is easy to navigate 24 x 7
- Straightforward B2B connections with third-party business partners using industry standards such as LDEx for processing eligibility and enrollment data and providing information back to employers’ HR systems
The Carrier Experience:
- An open platform that interacts with the complete employee benefits ecosystem
- Support for all types of group benefits
- Support for comprehensive digital engagement with employers and employees
- Support for analytics, smart work flows, and straight through processing
“FINEOS AdminSuite will help propel CGI to the forefront as the carrier partner of choice in the group employee benefits industry,” Marze said. “Our continued investment in this platform will help us better serve our clients and customers while also advancing the industry.”
“Implementing the breadth and depth of new technology – as represented by FINEOS AdminSuite – into CGI’s technology ecosystem has been a long endeavor,” he said. “Our comprehensive cloud position and deep knowledge of FINEOS AdminSuite enables CGI to deploy future product releases faster than was typically possible with a fragmented mix of legacy internal and on premise commercial software.”