FINEOS Concludes Third Annual Global Claims Summit in Chicago

- Growing client base ensures biggest attendance to date -
DUBLIN--(Business Wire)--
FINEOS Corporation, the global provider of innovative enterprise software
solutions for insurance, bancassurance, and government, today concluded its
annual FINEOS Claims Global Summit in Chicago, USA. This year`s event, the
biggest to date, was sponsored by FINEOS and selected key partners, and attended
by representatives from over 20 organizations from the USA, Canada, Australia,
New Zealand, Europe and Africa. The two day event featured keynote presentations
from FINEOS clients, partners and industry analysts, as well as interactive
presentations from FINEOS executives. The agenda also included case studies,
best practice discussions, technical and business breakout sessions and
demonstrations of the latest features in FINEOS Claims. Ian Lynagh, Executive
Vice President of FINEOS, also announced the launch of next year`s FINEOS
Innovation and Excellence Awards to honour FINEOS clients` use of claims
technology to achieve operational excellence within their organizations.

Commenting at the conclusion of the Summit, FINEOS CEO, Michael Kelly, said,
"Even in these difficult times, we are delighted that the Claims Summit
continues to attract clients from all over the world. Our clients` overwhelming
feedback is that this has been our most successful Summit so far. They place
great value on listening and learning how to innovate within the claims arena,
whether it`s through new technology, improving processes, people education or
through hearing the experiences of their other FINEOS user colleagues. Our user
community enjoys being able to interact directly with each other. This is a
great opportunity for insurers from different lines of business from different
continents and with different project requirements to come together, to learn
from each other and share best practices. It is also a testament to how the
special and diverse business needs of so many insurers can be successfully
facilitated by the FINEOS multi-line enterprise claims solution."

In his presentation, Michael Kelly reviewed the year to date and key events
since the last Summit. These include:

* A record-breaking number of new claims deals including Thorntons & Partners
(Ireland), FBD Insurance (Ireland), Macquarie (Australia), SalusAnsvar (Sweden)
and Saskatchewan Workers Compensation Board (Canada)
* Over ten customer project go-lives, including Mutual of Omaha (US) and Road
Accident Fund (South Africa)
* The fastest claims system go-live achieved to date at one of Australia`s
leading bancassurance groups, with the entire project taking just three months
to implement
* FINEOS is now the only claims software vendor in the world to be validated for
IBM`s Insurance Process Acceleration Framework
* Inclusion again this year in Celent`s Model Carrier Report.

Ward Graffam, FINEOS` recently appointed North American non-executive director,
was introduced to the group. Mr. Graffam, an insurance statesman with over 40
years of national and international experience at UNUM Corporation in the USA
and Unum International, explained why he has joined the FINEOS Board and
expressed his admiration for the company and its market potential.

The keynote address was given by Karlyn Carnahan, Principal at consulting group,
Novarica. Her presentation looked at how claims administration continues to be a
core strategic area of focus for insurance carriers as technology expectations
continue to change. From Web 2.0 to neural networking, the technologies
available for claims support are mushrooming and potential paybacks are rapid
and sizeable.

There were best practice sessions from FINEOS clients including the Accident
Compensation Corporation (New Zealand), Principal Financial Group (US) and a
major public insurer from Canada. The clients discussed the practical experience
of implementing and using FINEOS Claims in their respective organizations.

This was followed by updates from FINEOS, including an overview of FINEOS
Operations and FINEOS Claims Product Strategy & Roadmap. New functionality and
capability enhancements in the recent releases of FINEOS Claims were examined
and clients were able to contribute their ideas for upcoming releases. There was
also an introduction to FINEOS Claims for Workers Compensation in the US, and
the FINEOS North America Client Advisory Group (CAG) and FINEOS Government
clients met separately after the Summit.

The Global Claims Summit brings together users of FINEOS Claims, a
market-leading product that supports the world`s leading insurance companies and
government social compensation agencies achieve operational excellence in
handling a range of different types of claims. The product is the only claims
solution in the market today that has been successfully implemented globally
across property & casualty, life & health, and government social compensation
agencies.

About FINEOS Corporation

FINEOS is a global innovator of enterprise software solutions for insurance,
bancassurance, and government. FINEOS solutions address core business processing
requirements including claims & case management, CRM, new business/underwriting,
and policy administration. FINEOS solutions are built on a rules-driven,
service-oriented, component-based enterprise platform that serves as a flexible
infrastructure for new product introduction, legacy enrichment, and business
transformation. FINEOS is delivering documented benefits for some of the world`s
leading insurers, government agencies and banking institutions. The company is
headquartered in Dublin, Ireland with offices in North America, Europe and
Australasia. For more information, please visit www.FINEOS.com.

FINEOS Corporation
Susanne Ryan, Senior Marketing Manager
+353 1 639 9918
susanne.ryan@FINEOS.com

Copyright Business Wire 2009