RBC Insurance Moves to the FINEOS Cloud to Elevate Service
RBC Insurance has announced it will shift its operations to the FINEOS cloud platform. The move signals a clear focus on sharpening service delivery and sustaining the company’s long-standing standard of care in the insurance market. By adopting the FINEOS platform, RBC aims to strengthen its ability to serve customers well in a digital-first world while building on what already works.
What This Transition Means for RBC Insurance
Moving to the FINEOS Platform in the cloud positions RBC Insurance to unlock new digital capabilities and deliver a smoother experience for customers and teams alike. The change isn’t a reset; it’s a step forward from a partnership that already runs deep. Since 2008, RBC Insurance has relied on FINEOS Claims to manage and process Life and Disability claims efficiently, and this next phase extends that foundation into the cloud.
How FINEOS Supports RBC’s Next Phase
Paul Mielnik, Vice President of RBC Insurance Technology, said, “Moving to the cloud on the FINEOS Platform will provide new digital capabilities to support RBC as we continually improve our customer experience and operational excellence.” That focus—better experiences supported by modern technology—sits at the heart of the transition.
Leadership Views on a Longstanding Collaboration
Michael Kelly, CEO of FINEOS, reflected on the relationship that began in 2008 and the value it continues to create. “We are proud to have collaborated with RBC and look forward to continuing to support RBC in their mission to help their clients thrive and communities prosper,” he noted. The continuity of the partnership underscores mutual trust and a shared commitment to serving clients well.
RBC Insurance’s Position in the Market
RBC Insurance is the insurance arm of Royal Bank of Canada and offers a broad range of solutions across life, health, home, auto, travel, wealth, reinsurance, creditor, and business insurance. These offerings are tailored for individuals, businesses, and group clients. The organization serves nearly five million customers around the world, reflecting its scale and reach in the industry.
A Portfolio Built for Different Needs
As part of Canada’s largest bank, RBC Insurance provides a diverse set of insurance products designed to meet varied client needs. Its services support individuals and organizations seeking straightforward ways to protect their finances and assets, with options that align to different stages of life and business.
About RBC and FINEOS Corporation
The Royal Bank of Canada is the largest bank in Canada and holds a strong global position, with a consistent emphasis on innovation and customer service. Its principles-driven approach has earned the trust of more than 18 million clients worldwide. A diversified business model helps RBC adapt to changing conditions while staying focused on client outcomes.
FINEOS: Global Core Systems for Insurers
FINEOS builds core systems for life, accident, and health insurers across the globe. The company has a notable presence in the U.S. employee benefits market and holds a 70% market share of group insurance in Australia. Its software is used to improve operational efficiency and deepen customer engagement across the insurance lifecycle.
Frequently Asked Questions
Why is RBC Insurance moving to the FINEOS cloud platform?
The shift is intended to add new digital capabilities, streamline service delivery, and support ongoing improvements in customer experience and operational excellence.
How long have RBC Insurance and FINEOS worked together?
RBC Insurance has used FINEOS Claims since 2008, making the cloud transition a continuation of a well-established partnership.
What kinds of insurance does RBC Insurance offer?
The portfolio includes life, health, home, auto, travel, wealth, reinsurance, creditor, and business insurance for individual, business, and group clients.
Who are the leaders involved in this collaboration?
Key voices include Paul Mielnik, Vice President of RBC Insurance Technology, and Michael Kelly, CEO of FINEOS, who both emphasized the partnership’s focus on client outcomes.
How does FINEOS help insurance providers operate better?
FINEOS supplies core insurance systems that support claims and related processes, helping insurers improve efficiency and customer engagement at scale.
