Technology developed by Irish enterprise software vendor Fineos is being piloted across New Zealand by the Accident Compensation Corporation (ACC) as part of a business transformation initiative that will see the insurer replace a legacy system.
During the initial rollout some 400 users across New Zealand will use the Fineos insurance software to improve operational efficiency in the processing of bodily injury, work cover and other workers’ compensation claims.
In the first week of using the technology up to 2,000 new claims were processed efficiently and without incident.
The chief executive of ACC, Dr Jan White, said that the insurer embarked on the enterprise-wide project in order to prepare for future business needs. In particular it will lead to greater transparency and a more comprehensive framework for making payments to claimants.
“The first wave of users have been successfully transitioned to the new Fineos system and staff have enthusiastically adopted the improved framework practices,” Dr White explained. “The remaining 2,000 staff will be progressively transitioned by mid 2007.”
ACC provides personal injury cover for all New Zealand citizens, residents and temporary visitors to New Zealand on behalf of the Government.
“ACC is an example of how a government sponsored institution can be proactive in preparing for the future by ensuring efficiency is maintained even as business increases in volume and complexity,” said Fineos chief executive Michael Kelly.
By John Kennedy