AdminSuite rollouts strengthen FINEOS’ insurance sector footprint
In the September 2024 quarter, FINEOS reported cash receipts from customers of €35.5 million, marking a 23% increase compared to the same period last year.
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FINEOS is a global software company providing modern customer-centric core software to the Employee Benefits and Life, Accident and Health industry. We help our customers move on from outdated legacy administration systems to our modern purpose built, customer-centric core product-suite, FINEOS AdminSuite for New Business, Billing, Claims, Absence and Policy Administration, enabling improved operational efficiency, increased effectiveness and excellent customer care. FINEOS AdminSuite is designed to manage the modern complex structures and relationships of group and individual insurance processing to optimize plan, coverage and data management, operational processing, and business intelligence (BI).
The FINEOS Platform seamlessly blends FINEOS AdminSuite + FINEOS Engage + FINEOS Insight + Platform Capabilities to create the most modern SaaS core insurance platform for Employee Benefits and Life, Accident and Health.
FINEOS AdminSuite can be implemented as a full policy administration system in a single phase or as a multi-phased component product solution, whereby the FINEOS New Business, Claims, Policy, Billing and Absence components can be implemented and integrated with existing policy administration systems initially before a complete implementation of FINEOS AdminSuite to replace existing policy administration systems takes place. This multi-phased component implementation approach enables fast solution deployment in areas of most critical business priority to deliver early value before full policy replacement.
In the September 2024 quarter, FINEOS reported cash receipts from customers of €35.5 million, marking a 23% increase compared to the same period last year.
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Target price falls to $3.98 from $4.92 to reflect the recent shift in relative valuation and the broker is keeping a wary eye to new client acquisition. Outperform rating retained.
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Macquarie resumes coverage with an Outperform rating and $4.92 target.
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Target is lowered to $5.22 from $5.25 and the Buy is retained.
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Macquarie expects the new contract with American Public Life Insurance will underpin the company's performance. Outperform rating and $4.63 target retained.
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Macquarie reviews estimates after making comparisons with and concludes the offering from Fineos, supported by ongoing R&D, should position the business appropriately to win new clients and upgrade existing clients to the cloud. Outperform rating and $4.63 target retained.
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As 2020 ended, opposing forces were in play for insurance software provider Fineos Corp, while a quality global customer base is ultimately expected to underpin growth.
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Macquarie has provided an update on Fineos Corp's September quarter activities.
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FINEOS Corp, the global insurance industry software provider, has hit the ground running on the ASX with a stellar growth outlook.
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FY20 results were in line with the recent update and materially ahead of prospectus. Guidance is for revenue growth of 20% with 30% growth in subscription fees and Macquarie believes the company is positioned to deliver on its forecasts.
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