Customer Frequently Asked Questions
Q. How does the acquisition benefit the FINEOS and Limelight Health shared customer base?
A. The combination of FINEOS and Limelight Health is expected to provide customers with the following benefits:
Increased sales for carriers:
Limelight Health brings a focus on insurers’ new business acquisition and top line revenue growth to complete the FINEOS Mission for global market leadership in end-to-end core systems for life, accident and health. Insurers will be more competitive with improved proposal turnaround time and better plan designs.
Improved risk management and profitability:
With the integrated FINEOS AdminSuite and Limelight Health solution, underwriters will have easy access to the full scope of internal and third-party data for improved decision making and automation.
Improved customer experience:
Streamlined proposal, enrollment, onboarding, and servicing will provide a better experience for employers and members. The integrated solution will reduce duplicate entry for a more streamlined, error-free experience.
Reduced time to market
The integration of FINEOS AdminSuite and Limelight Health will enable a streamlined end-to-end process from product creation, new business, policy and billing, comprehensive claims management and absence management. This will greatly reduce time to market and time to service for new products and new cases.
Reduced overall operational costs
Integrating the New Business support and case installation with policy service functions will benefit underwriters, brokers, actuaries, policy service and claims service staff by reducing administrative process costs and onboarding errors. It will also greatly reduce initial billing errors and reconciliation work, and generally provide a better experience for the employer.
Reduced IT costs
Together FINEOS and Limelight Health will reduce implementation costs for IT departments both from a technical integration and program management perspective. Both companies have developed or are developing low code-no code configuration tools that will reduce deployment costs and ongoing development of new products and features. It will also reduce product support coordination and eventually provide a single point of contact. Both Limelight and FINEOS are developed in Java-based technologies and on the AWS Cloud platform.
Q. How is this acquisition expected to impact on-going development of FINEOS or Limelight Health solutions?
A. There will be no immediate impact to FINEOS or Limelight Health solution development. After the closing, the combined company will look for ways to accelerate the product development across the portfolio by leveraging compatible technologies and resources across the new FINEOS Platform.
Q. How is this acquisition expected to impact any existing project, deployment, or services engagements?
A. There is no expectation that this transaction will impact any existing project, deployment, or services engagement.
Q. How will FINEOS and Limelight Health provide for a smooth integration of the two companies?
A. Both companies are focused on customer satisfaction and will provide a smooth transition without customer disruption. Key personnel from both companies will be working together on integration planning, change management and mentoring to ensure a smooth journey. We will communicate regularly throughout this process to keep customers and employees well informed.
Q. Can I still purchase FINEOS and Limelight Health products?
A. Yes. Please contact your current sales representative to assist you.
Q. Should FINEOS and Limelight Health customers continue to call their respective existing points of contact?
A. Yes. FINEOS and Limelight Health customers should continue to use their existing account contacts for support, professional services and sales to address immediate and ongoing needs. We will communicate all changes and transitions occurring after the close well in advance through these familiar channels.
Q. Will training on FINEOS and Limelight Health products continue?
A. Yes, for the immediate future. We plan to combine the FINEOS University and Limelight University education program over time. We want to ensure that our customers’ software provides the best possible service for their organizations, and we know excellent training is critical to reach that goal.
For further information, please reach out to your customer manager.