RBC Insurance Moving to Cloud on the FINEOS Platform

FINEOS Corporation (ASX:FCL), the global leader of group and individual core software for life, accident and health insurance, announced today that Royal Bank of Canada RBC Insurance will upgrade its on-premise implementation of FINEOS Claims to the FINEOS Platform. This will support RBC to continue to deliver world class service and care to their customers into the future. RBC Insurance have managed and processed Life and Disability Claims for their customers using FINEOS Claims since 2008.

The Royal Bank of Canada (RBC) Insurance offers a wide range of life, health, home, auto, travel, wealth and reinsurance advice and solutions, as well as creditor and business insurance services, to individual, business and group clients. RBC Insurance is the brand name for the insurance operating entities of Royal Bank of Canada, Canada’s biggest bank, and one of the largest in the world based on market capitalization. RBC Insurance serves close to five million customers globally.

"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,” said Paul Mielnik, Vice President, RBC, Insurance Technology. “FINEOS has proven to be a reliable and trusted partner over many years with established capability to meet our future needs."

FINEOS CEO Michael Kelly said, “We are proud to have collaborated with RBC since 2008 and look forward to continuing to support RBC in their mission to help their clients thrive and communities prosper."

About RBC

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. As Canada's biggest bank and one of the largest in the world, based on market capitalization, RBC has a diversified business model with a focus on innovation and providing exceptional experiences to more than 18 million clients in Canada, the U.S. and 27 other countries.

About FINEOS Corporation

FINEOS is a leading provider of core systems for life, accident and health insurers globally with 7 of the 10 largest employee benefits insurers in the U.S., as well as a 70% market share of group insurance in Australia. With employees and offices throughout the world, FINEOS continues working with innovative, progressive insurers in North America, EMEA, and Asia Pacific.

For more information, visit www.FINEOS.com

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