EY | May 26, 2022
FINEOS and Ernst & Young Business Consultants have announced an alliance (EY Ireland). The Alliance will support intelligent digital transformation for insurers. Furthermore, it will positively impact the entire employee benefits value chain, from insurers to employers to employees, while also achieving tangible operational efficiencies. The Alliance has also been expanded to include the United States, with further global expansion planned.
FINEOS is a global market leader in core life, accident, and health insurance systems. EY teams have worked with FINEOS on software implementations with different life, accident, and health insurance carriers. The goal of assisting these companies is to realize their transformation journeys through multiple technologies and services ranging from consulting to on-site execution and integration.
Many insurance companies currently use manual processes, which create a slew of inefficiencies. As a result, carriers are increasingly required to influence digital and analytical solutions while redesigning customer operations and service models.
The Alliance provides clients with the technology they need to achieve their transformation objectives. It will also assist EY teams in developing services around the already successful teams deploying the FINEOS Platform. FINEOS has also developed a leading cloud-based end-to-end software-as-a-service (SaaS) core product suite covering the insurance lifecycle, including rating and underwriting, quotes, claims, absence, billing, and policy administration. Through FINEOS Insight, FINEOS Engage, and EY Nexus, FINEOS and EY teams can bring artificial intelligence (AI) and machine learning capabilities and data analytics software.
The industry knowledge and global reach of the EY organization and FINEOS will assist clients worldwide in accelerating smart digital transformation. Finally, this Alliance will aid in the acceleration of innovation and digitization in the employee benefits market.
The collaboration between EY and FINEOS will assist clients in maximizing the value of their digital transformation efforts. Insurance carriers are likely to increase their success rate and total value as they build future-ready organizations by combining the FINEOS Platform with the consulting capabilities of EY teams."
Matthias Loh, the EY Global FINEOS Alliance Sponsor.
As the global life, accident, and health insurance market continues to evolve at a rapid pace, this new alliance with the EY organization brings additional business and technology experience, as well as systems integration capabilities, to assist clients in achieving their goals. As FINEOS continues to invest proactively in new products and growth plans, we want to ensure that our clients access the market support and system integration knowledge required for their transformation plans. With FINEOS New Business & Underwriting, FINEOS Claims, and FINEOS Absence implementations underway, this announcement reinforces our commitment to forging strategic alliances to better support our clients' digital transformation efforts."
FINEOS CEO and Founder Michael Kelly.
G2 | June 21, 2022
Bringing Nation’s leading independent insurance brokerage firms to Relation, transaction will expand national footprint and areas of expertise.
Relation Insurance Services, one of the nation's largest and fastest-growing insurance agencies, announced today the acquisition of the assets of G2 Insurance Services, LLC ("G2"). Procuring an established, high-growth insurance brokerage firm expands Relation's growing national footprint and areas of expertise. The transaction became effective on June 1, 2022, and the terms were not disclosed.
Adding G2 Insurance to the Relation team will bring together a potent combination of forward-thinking people and best-in-class products and services to what is already one of the nation’s fastest-growing insurance platforms, G2 Insurance’s commitment to client service, expertise, and innovation fits seamlessly with Relation’s mission and culture.”
Joe Tatum, CEO of Relation.
G2 Insurance was founded in 2012, by Matthew and Jason Goldman to provide the best in insurance, technology, and client service. The firm has established itself as an industry leader in several areas, including non-profit organizations, high-net-worth individuals, family offices and wealth advisory, commercial real estate, equine, and agribusiness. The new partnership will foster Relation and G2's collective growth while providing a more robust service platform for its clients.
The entire G2 team has merged with Relation and will continue to provide clients with the same high-quality service. Bob Zenoni will remain President and COO of G2 Insurance, a Relationship Company, while Matthew and Jason Goldman will drive growth and strategy.
About Relation Insurance Company
Relation Insurance Services is a nationwide insurance brokerage that provides superior risk management and benefits consulting services. According to Insurance Journal, it is one of the top 35 most prominent agencies in the country in terms of revenue, with approximately 1,200employees spread across more than 125 locations. Relation is a privately held company backed by Aquiline Capital Partners, a private equity firm based in New York and London that invests in financial services and technology companies worldwide.
Fenris | June 08, 2022
Fenris Digital (Fenris), an insurance data sourcing innovator with a suite of API-delivered, SOC 2 compliant products, is pleased to announce a new partnership with enterprise life insurance platform Sureify to deliver Life Events Monitoring and Alerts (LEMA) to Sureify's LifetimeENGAGE users to increase customer interaction and, ultimately, satisfaction.
Fenris Life Event Monitoring and Alerts will be made available on Sureify's LifetimeENGAGE platform, which helps carriers and brokers build long-term relationships with policyholders by driving health and wellness activities, purchase decisions, financial education, and more. Sureify's carrier and broker customers will receive real-time alerts concerning changes in the lives of policyholders that would need a review of current coverage because of Fenris' life event alerts being made available through its platform.
The lives of our client's policyholders are changing faster than ever. Insurance providers need to be aware of these changes in real time so they can engage with their customers at exactly the right moments. By integrating with Fenris, we're investing to ensure that, through our clients, modern policyholders' needs are being almost proactively met, which is immense."
Sureify COO Ryan Swanson.
Data is at the heart of a carrier's engagement practices that lead to informed agents guiding policyholders along the customer lifecycle, Working with Sureify to make our real-time alerts available to the life insurance space will give agents, brokers, and carriers the insight they need at the right time to nurture their relationship with policyholders."
Jennifer Linton, CEO and Founder of Fenris.
Fenris enables traditional, innovative, and embedded insurance companies to better acquire customers by leveraging data repositories of 255+ million persons, 130+ million homes, 30+ million small businesses, and total coverage of all properties in the United States. Through real-time alerts that prompt outreach to policyholders, Fenris' Life Event Monitoring and Alerts promotes engagement, raises retention rates, and leads to business growth.