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FINEOS (ASX:FCL) share price under spotlight with HY21 report, new contract win


The
FINEOS Corporation Holdings PLC(ASX: FCL) share price will be on watch tomorrow after the insurance software business released its FY21 half-year result. It also announced a new contract.
Why the FINEOS share price will be on the radar
The FINEOS share price will be in focus tomorrow after the company told investors its half-year revenue increased by 30.1% to €52.6 million. This was made up of 20.1% organic growth and 10% growth from acquisition.
Software revenue was €19.1 million. There was organic subscription recurring revenue growth of 35.1% year on year, or 51.5% growth including the contribution from a US acquisition called Limelight Health (LLH) which was acquired in August 2020. Initial license fee (ILF) revenue was down 16.8% to €1.5 million, reflecting a run off of the old pricing model revenue. ....

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Life Partners selects FINEOS platform | Money Management


The contract for the software as a service provider (SaaS) was for five years.
Tracey Lonergan, Partners Life chief claims officer, said it was important for the firm to find a credible provider.
“Also important to us was that the selected vendor come with a strong record of successful implementations and strong support of its claims management system with New Zealand and Australian life and health insurance industry,” Lonergan said.
“Our initial collaboration has been extremely positive, and we envisage that the project will deliver high quality results.”
Michael Kelly, FINEOS chief executive, said: “This is an exciting project for us in New Zealand and we look forward to a fast and smooth system implementation to enable the benefits of using FINEOS as early as possible thereby delivering a high-level service to its customers and independent financial advisers across New Zealand”. ....

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Partners Life Selects the FINEOS Platform for Claims


Partners Life Selects the FINEOS Platform for Claims
FINEOS Corporation (ASX:FCL), the market-leading provider of group and individual core systems for life, accident and health insurance, today announced that Partners Life, following a comprehensive market evaluation of Claims Management System vendors, has selected the FINEOS Platform for life insurance and medical claims.
The Partners Life and FINEOS partnership will bring about changes focused on replacing existing claims systems and processes with a differentiated value proposition. This will bring key operational benefits such as efficient, integrated and automated workflow processes and accurate claims covering life, TPD, trauma, income protection and medical products. ....

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