MAIB Selects FINEOS to Deliver Next-Generation Claims Management System

SYDNEY--(BUSINESS WIRE)--FINEOS Corporation (ASX: FCL), a leading provider of core systems for life, accident and health insurers globally, today announced that the Motor Accidents Insurance Board (MAIB) of Tasmania has selected the FINEOS Platform to replace its legacy Motor Accidents Claims System (MACS) with a contemporary, secure and client-centric claims management solution.

The MAIB is a Tasmanian Government Business Enterprise that provides compulsory third-party personal injury insurance to Tasmanian motorists in accordance with the Motor Accidents (Liabilities and Compensation) Act 1973. Funded through premiums applied to registered motor vehicles, MAIB assists people recovering from, or living with, injuries resulting from motor accidents and provides compensation for a range of treatment and support services for eligible people, regardless of fault. MAIB also provides liability insurance for drivers and owners of motor vehicles and supports eligible motorists involved in accidents where another person has been injured. Headquartered in Launceston, MAIB services the entire state of Tasmania.

The decision to modernise MAIB’s claims platform reflects the increasing challenges associated with its existing system. The legacy platform presents growing risks related to technology obsolescence, client information security, data access and reporting limitations, and the ability to support MAIB’s strategic objectives focused on client outcomes and continuous improvement.

MAIB sought a contemporary and secure claims management system that empowers staff to deliver proactive, holistic and personalised services to clients while strengthening operational resilience and future-readiness.

The new Claims Management System (CMS) will support MAIB’s strategic objectives to:

• Implement a modern, adaptable CMS that supports client-centric outcome delivery
• Increase administrative efficiency, maximising time spent servicing clients
• Deploy a fit-for-purpose system with inbuilt cybersecurity, data analytics and reporting capabilities

The project is expected to deliver significant benefits to MAIB, including:

• Greater operational efficiencies for staff
• Increased flexibility to support evolving work practices and processes
• Enhanced capacity to leverage client-facing automation and digital services
• Strengthened data security
• Improved integration with other MAIB systems
• Enhanced reporting and analytics capabilities

MAIB selected FINEOS following a comprehensive evaluation process, citing strong alignment between MAIB’s requirements and the FINEOS Platform’s capabilities. The FINEOS solution offers a proven, off-the-shelf claims management system designed to support social insurance organisations in delivering client-centric outcomes.

FINEOS was also chosen for its digitally enabled platform, ongoing product investment and innovation, strong regional delivery track record within the social insurance market, and experienced implementation teams with deep domain expertise.

“We are proud to partner with MAIB in their transformation journey,” said Michael Kelly, CEO, FINEOS. “MAIB plays a vital role in supporting Tasmanians impacted by motor accidents. By modernising their claims platform, MAIB is positioning itself to enhance client outcomes, strengthen data security, and improve operational agility. We look forward to supporting MAIB in delivering a future-ready claims capability for the people of Tasmania.”

“MAIB has a long history of standing beside Tasmanians affected by motor accidents and we are committed to continually strengthening the way we support our clients,” MAIB’s Chief Executive Officer, Paul Kingston said.

“Our people already provide dedicated, client-focused service every day. Modernising our claims management system will help us build on that strong foundation. The new FINEOS platform will give our staff the tools they need to work more efficiently and proactively support our clients.

“This is an important step in ensuring the MAIB remains reliable, secure and prepared for the future so we can continue to support Tasmanians who depend on us.”

The implementation marks another significant milestone for FINEOS in the Australia and New Zealand region and reinforces its leadership in delivering core systems to social insurance organisations globally.

About FINEOS Corporation

FINEOS is a leading global provider of core systems for life, accident, and health insurers. The FINEOS Platform is purpose-built for group, individual and social insurance schemes providing seamless integration, automation and a modern digital experience. In addition to serving more than 40 customers in North America, including 7 of the 10 largest employee benefits insurers FINEOS also powers 70% of group insurers in Australia and supports key social insurers across Australia and New Zealand such as icare (Life Time Schemes), Accident Compensation Corporation in NZ and the Transport Accident Commission in Victoria. With a global workforce, FINEOS partners with innovative, forward-thinking insurers in North America, EMEA, and Asia-Pacific.