BOSTON--June 6, 2006--FINEOS, an award-winning global provider and a recognized expert in the development of packaged software solutions for the insurance industry, has been recruited into IBM's North America ISV Advantage initiative, a program designed to provide independent software vendors (ISVs) with technical and marketing support to meet the specific information technology needs of small and medium business (SMB) companies.
The IBM ISV Advantage relationship expands FINEOS' existing global relationship with IBM as an exclusive cluster partner for the insurance industry while supporting FINEOS' continued expansion focused on serving the full breadth of North American insurance carriers. This agreement is another milestone in a long term relationship between FINEOS and IBM to deliver total solutions to the insurance industry. FINEOS solutions support IBM's Insurance Application Architecture (IAA), are certified and scalability tested on IBM hardware and software and can be delivered using IBM services. This integrated approach provides a high degree of compatibility with existing technology investments which minimizes project risk and speeds implementation.
"FINEOS is committed to providing world-class software solutions to North American insurance companies. Our relationship with IBM, and specifically this agreement, further enables FINEOS to expand its offerings to the entire range of insurance firms in North America," said Michael Kelly, president and CEO, FINEOS Corporation. "Enabling FINEOS insurance solutions on IBM architecture, hardware, software and services will help FINEOS expand into the market faster and more effectively while offering insurance companies a total solutions approach."
"We look forward to working closely with FINEOS to deliver customized insurance solutions for SMB customers," said Buell Duncan, General Manager, ISV and Developer Relations at IBM. "FINEOS' industry leading applications, coupled with IBM's open and integrated middleware platforms provide comprehensive solutions that insurance customers demand today."
About FINEOS
Founded in 1993, FINEOS is an award-winning global provider and a recognized expert in the development of packaged software solutions for the insurance and banking industries. The FINEOS Insurance Suite includes front-to-back solutions for sales & service, claims management, payments, underwriting and policy administration and is designed for life and health (including group, individual disability and long-term care) and property and casualty (including workers' compensation). The FINEOS Banking Suite provides sales & service solutions, most notably for mortgage lending, which combine enhanced customer interaction management with bank-specific workflow automation. FINEOS solutions are built on a componentized platform that blends customer relationship management (CRM) and workflow automation with traditional core processing, delivering ease-of-use, straight-through processing and operational efficiency. Clients may choose a full enterprise suite or application-specific approach, implemented in phases, as appropriate. FINEOS solutions deliver documented benefits for some of the world's leading insurance carriers and banks. The company has offices in Australia, Europe and the USA. For more information, please visit www.FINEOS.com.
