Fineos Acknowledged as a Key HR Software Provider by APPS RUN THE WORLD in the HCM Top 500 Market Report

FINEOS House, Eastpoint Business Park, Alfie Byrne Road, East Wall

Dublin, x, D03 FT97, Ireland

353 1 639 9700

https://www.fineos.com/

358 Fineos

Fineos Strengths, Domain Expertise, and Key Differentiators

FINEOS Corporation is a global provider of core systems for life, accident, and health insurers, serving seven of the ten largest employee benefits providers in the United States and holding a 70% market share in Australia's group insurance sector. With a worldwide presence, including offices across North America, Europe, and the Asia-Pacific region, FINEOS collaborates with forward-thinking insurers to drive innovation and digital transformation in the insurance industry.​

The FINEOS Platform offers a comprehensive, end-to-end core administration solution tailored for group, voluntary, and individual insurance across life, accident, and health. Its flagship component, FINEOS AdminSuite, encompasses key functionalities such as absence management, billing, claims, payments, policy administration, provider management, and new business and underwriting. This cloud-native, SaaS-based suite is designed to scale with business needs, delivering 24/7 digital services for both small businesses and large enterprises

Fineos Recent Developments

In March 2024, FINEOS Corporation introduced FINEOS Absence for Employers, a comprehensive, cloud-based solution designed to streamline absence and disability management for human resources teams. This robust platform empowers employers to manage a wide range of leave types in alignment with their organizational values and employee care strategies. By consolidating compliance with complex federal, state, and local leave regulations into a single system, FINEOS Absence for Employers supports HR departments in delivering consistent, efficient, and employee-centric leave administration.

Fineos Mergers and acquisitions (M&A) Activities

In March 2024, FINEOS Corporation introduced FINEOS Absence for Employers, a comprehensive, cloud-based solution designed to streamline absence and disability management for human resources teams. This robust platform empowers employers to manage a wide range of leave types in alignment with their organizational values and employee care strategies. By consolidating compliance with complex federal, state, and local leave regulations into a single system, FINEOS Absence for Employers supports HR departments in delivering consistent, efficient, and employee-centric leave administration.

Fineos Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Fineos applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Fineos and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified FINEOS AdminSuite customers.

Fineos Overview

Ownership: - FCL (ASX)

Number of Employees: 893

Functional Market: Absence Management,

Key Verticals: Insurance,

Fineos Key Cloud and HCM Applications

FINEOS AdminSuite

Fineos HCM and Cloud HCM Applications Revenues, $M:

Type/Year20232024YoY Growth, %
Total Revenues, $M Subscribe Subscribe Subscribe
HCM Applications Revenues, $M Subscribe Subscribe Subscribe

* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.

Fineos Revenue Breakdown by Type:

TypeLicenseServicesHardwareS&MSaaSPaaSIaaSOtherTotal
% of Total Revenues Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe 100%
Revenues, $M Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe

Fineos Total and HCM Applications Revenues by Region:

Region% of Total Revenues2024 Total Revenues, $M2024 HCM Applications Revenues, $M
Americas Subscribe Subscribe Subscribe
EMEA Subscribe Subscribe Subscribe
APAC Subscribe Subscribe Subscribe
Total Subscribe Subscribe Subscribe

Fineos Direct vs Indirect sales

TypeDirect SalesIndirect SalesTotal
Type % Subscribe Subscribe Subscribe
Revenues, $M Subscribe Subscribe Subscribe

Fineos Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified Fineos Customers


No. of Fineos Customers: 50

No. of Fineos HCM Applications Customers: x

No. of Fineos Cloud HCM Customers: x

No. of Fineos Cloud HCM Subscribers: x


​FINEOS Corporation serves a diverse global clientele ( more than 50), encompassing both public and private sector organizations across North America, Europe, and the Asia-Pacific region. Notable clients include: The Accident Compensation Corporation, Armed Forces Benefit Association (AFBA), Dearborn National, New Zealand Defence Force, OneAmerica, OTIP (Ontario Teachers Insurance Plan), QInsure, Sun Life Financial, AMP, ASEBP, Canada Life Ireland, CommInsure, FBD, Friends First, Liberty Specialty Markets, icare, Manitoba Public Insurance, The Manitoba Teachers’ Society, McLarens, Mutual of Omaha, BT Insurance and many others.

Fineos Market Opportunities, M&A and Geo Expansions

FINEOS aims to expand the openness of its platform to support greater client and partner adoption, facilitating competitive differentiation. This includes integrating advanced AI capabilities and machine learning to improve digital engagement and analytics across its suite of products, such as FINEOS Engage and FINEOS Insight. ​ The company is transitioning to a higher-quality subscription revenue business model, aiming to improve margins and achieve sustainable growth. This shift is expected to provide more predictable revenue streams and enhance customer relationships. ​ FINEOS continues to invest in digital transformation initiatives, including legacy system replacements and the development of cloud-native solutions. These efforts are designed to provide insurers with superior technology solutions that enable them to care for the people they serve effectively.

Fineos Risks and Challenges

FINEOS has a relatively high level of client concentration, with a significant portion of its revenue derived from a limited number of large insurance clients. This concentration may limit the company's ability to increase subscription fees, as major clients could leverage their position to negotiate pricing. While the high switching costs in the industry reduce the likelihood of client attrition, FINEOS must continually add value to justify its pricing and maintain client relationships.

Fineos Ecosystem, Partners, Resellers and SI

​In December 2024, FINEOS officially launched the FINEOS Partner Hub, an innovative platform designed to enhance the employee benefits ecosystem for insurance carriers. The FINEOS Partner Hub offers a curated selection of trusted, plug-and-play partners that extend beyond the FINEOS Platform, aiming to enhance the customer experience. Each partner in the hub enhances a carrier’s benefits service offering, providing tailored solutions to support clients at every stage of the benefits lifecycle. ​

FINEOS is working with its partners to increase the pace of innovation, and industry experts and associations to ensure the FINEOS Platform maintains the most up to date capabilities. Among Fineos strategic systems integrators are, EY, PWC, Deloitte, Levio, and Sequential. They also have technical partners like IBM, Microsoft, Oracle, Amazon AWS and others.

Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.


Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).


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