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EIS, a core and digital platform provider for insurers, today announced digital pioneer Rory Yates as Head of Strategy for EMEA. The region is fast becoming a thriving market for EIS as it makes its second key senior hire in six months. Yates is set to help the company grow operations and go-to-market working in close collaboration with partners and clients. 

Yates has a diverse background, with 24 years of experience across sectors such as technology and banking at industry heavyweights WPP, Cognizant and Santander. He joins EIS from DXC where he transformed client businesses with in-depth analytics & AI, consulting, UX & UI and digital engineering. 

He has long been an industry trailblazer, leading the delivery of Cahoot, the UK’s second digital bank, into the UK at 22 years old. His interest in the insurance sector was solidified at Monitor Media, a pioneer in experience design within insurance, and then at Ninety, which helped the global insurance sector innovate to keep up with  the constantly evolving digital ecosystem. 

Alongside his role helping insurers thrive in new regulatory landscapes and succeed in a digital world, Rory will also focus on ESG. Yates has two decades of experience in ESG, most recently founding digitalpoverty.co.uk and leading the formation of the E-Alliance at COP26, as well as the development of PAS440 with the British Standards Institute.

Commenting on his appointment, the new Head of Strategy said: “As EIS continues to expand across Europe, I’m excited to help the company transform insurance companies and create modern, customer-first offerings, and build the true ecosystem insurer with our strategic partners.” 

The new appointment marks another milestone in EIS’ EMEA mission to enable insurers to innovate like a tech company. The company entered the UK market in 2020, opened its London headquarters, and quickly established well-known customers such as esure and Ageas UK. EIS will help transform operations at these key players, replacing their core systems with platforms that serve today’s increasingly demanding customers and government legislation. With the appropriate technology in place, insurers can fulfil their digital ambitions and move from out-dated legacy tech. 

Yates will speak on his vision of how platform partnerships can redefine the insurance customer journey on a roundtable at the Insurtech Insights’ London conference on March 16. He recently released a white paper on how cloud-native insurance platforms will power the industry’s true transformation.

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Ageas, one of the UK’s leading motor and home insurers, announced today that it has appointed EIS, a core and digital platform provider for insurers, to support its digital business transformation programme. This programme will provide the step-change for Ageas to fulfil its digital ambition, with an infrastructure that will allow the business to operate in a fast, simple, and agile way, ultimately fuelling its standout capabilities in proposition development, underwriting and pricing.

The benefits of the new platform will also allow Ageas to build tailored insurance solutions at pace for brokers and to simplify insurance for its customers, providing end-to-end digital-first experiences including the ability to seamlessly self-serve.

Caroline King, Customer Operations Director at Ageas UK said: “In what is our largest infrastructure investment in the business to date, this digital transformation programme will power us to the next level of digitally-enabled insurers. By investing in the best the market has to offer, like this flexible EIS platform, we are unlocking significant capability that will allow us to offer standout solutions for our brokers and customers with an ambition to deliver brilliant service where it matters.”

Ageas is embarking on a transformation programme that will result in a cutting-edge digital ecosystem, leveraging market leading processes and technology. This programme includes the delivery of a new insurance technology platform that’s cloud-enabled, open, and compatible with microservices and API stacks.

Once implemented, the architecture will be the foundation of Ageas’s digitalisation process. To maintain agility and support brokers’ and customers’ evolving needs, EIS provides an intuitive, highly configurable, rules-based platform for underwriting and new product innovation, while managing cost efficiencies for ongoing maintenance and support.

To create a seamless customer experience Ageas will be deploying the EIS platform’s fully integrated applications, PolicyCore®, BillingCore®, CustomerCore™, CustomerCore CEM™ and EIS DXP® gaining end-to-end business capabilities that support digital enablement at every touchpoint. The applications are accessed via EIS CloudCore, EIS’ software-as-a service platform.

“It’s fantastic to know we are helping Ageas cement its place as one of the UK’s leading personal lines insurers through the reinvention of the customer journey” explained Alec Miloslavsky, EIS CEO.  “Ageas has recognised that for insurers to thrive in this digital-first world, they need to accelerate their digital transformation projects to deliver a proactive, omnichannel experience that their brokers and customers are looking for and we’re delighted to be joining Ageas on this journey.”

About Ageas UK

Ageas is one of the largest General Insurers in the United Kingdom, providing motor and home insurance to over four million customers. With a focus on Personal lines insurance distributed through brokers and aggregators, Ageas was voted by the industry as “Personal Lines Insurer of the Year 2021” at both the British Insurance Awards and the Insurance Times Awards. Its purpose is clear, to understand people + simplify insurance, and this was further evidenced by Ageas’s achievement of the Institute of Customer Service coveted Service Mark accreditation in 2021, and being certified by the Top Employers Institute as a “Top Employer” for 2022. Ageas (UK) Limited is a wholly owned subsidiary of Ageas Group, which is listed on the Belgium stock exchange.

Press Contacts

Ageas UK: Maggie Hill. Tel, 02380 313147, E-mail press.uk@ageas.co.uk
EIS: Jake Galland. Tel, +44 (0)7780 866 874, E-mail jgalland@positivemarketing.com

Ageas (UK) Limited registered office: Ageas House, Hampshire Corporate Park, Templars Way, Eastleigh, Hampshire, SO53 3YA. Registered number: 1093301. Registered in England and Wales.
www.ageas.co.uk

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EIS, a core and digital platform provider for leading insurers, commemorated the one-year anniversary of the expansion of its core EIS OneSuite™ to carriers in the life and annuities markets by announcing a slate of new life insurance products with a host of industry-leading features, two United States national insurers already implementing the products and additional insurers in APAC, UK and EMEA in proof-of-concept or other buying cycle stages. 

Since announcing its life and annuities launch in February of 2021, EIS’ fast-track development methodology drove a rollout of new capabilities covering major product segments, including Group Universal Life, Group Whole Life, and Group Term Life. 

The EIS OneSuite of life offerings provides carriers with a broad range of innovative microservice features, a high degree of agent, service, and customer usability through dedicated persona-based applications, out-of-the-box templates, reusable content, and flexible low code/no code tools. Innovative features include:

• Illustrations: Built-in graphical illustrations that demonstrate policy performance over time, as well as strong analytics and modeling capabilities, which enable policy administrators, agents/brokers, and consumers to visualize how financial decisions and life events can impact future performance.
• Tax Testing: Testing of policies in real-time to make sure they meet the definition of life insurance under regulation 7702 and ensure consumer tax efficiency.
• Cash Value Management: A cash flow management microservice tool that provides real-time cash value calculations and loan access through self-service portals for policyholders, agents/brokers, and customer service.
• Associated Riders: Eight of the most popular and commonly requested life insurance riders are available out-of-the-box. 
• Coverage Summary Screen: A robust, persona-based agent workspace that provides a singular view of rates, renewals, changes, and loan terms for all market types, driven by analytics, with the ability to quote any product from a single page. 

“Timing is everything and the extremely positive market response to our entry and offering is all about addressing today’s needs,” says Samantha Chow, Global Market Lead for LA&H at EIS. “To attract and retain top talent, in the great resignation era, employers are turning to workplace benefits insurers to help them create more competitive packages. It is a huge challenge for insurers to add new products and product types they don’t currently have in their coverage libraries. Insurance providers today may offer individual life, but want to enter the growing market of group and are unable due to legacy constraints.” 

“With our expertise in the workplace benefits market, we are well-positioned with a market-ready, scalable solution that solves carriers’ challenges entering this new market or creating products they wouldn’t have offered in the past,” concluded Samantha Chow.

Robert McIsaac, head of Life, Annuities and Benefits at analyst firm Aite-Novarica Group commented: “Carriers in the life, annuities and benefits lines of business generally find that strong support for cash accumulation products is a critical component on their modernization journey toward supporting future state business models. Capabilities such as what EIS is adding now provide an expanded set of options for carriers to consider as they make potentially once-in-a-generation investment decisions for supporting long liability tail businesses.”

Throughout 2021, analyst firms globally have recognized the growth and strength of EIS’ coretech solution for the life and annuities industry within their reports. 

EIS was named:

• A “Leader” in the 2021 Gartner® Magic Quadrant™ for Life Insurance Policy Administration Systems, North America*.
• A “Contender” in the Novarica Market Navigator for Life/Health Claims.  
• A “Technology Standout” in Celent’s Policy Administration Systems for Life Insurance, EMEA Edition.
• A “Technology Standout” in Celent’s North American Policy Administration Systems, Individual Life Insurance Edition, which stated: “While PolicyCore for Life & Annuity is still young in terms of individual life capabilities, this cloud-native solution offers a solid set of policy administration capabilities and strong configuration tools to build additional functionality as needed—augmented by the DXP digital platform as well as other solutions in the EIS OneSuite. We expect to see it gain clients over the next few years.”

In the last year, EIS has more than doubled its product and R&D teams dedicated to life. That investment is already paying dividends with two new national account carriers in the US currently implementing EIS’ universal life and whole life solutions. 

“As we embark on 2022,” added Chow, “we are looking forward to building on our life capabilities, including individual life products and annuities, and introducing the unique value of our high-velocity platform to additional forward-looking life insurance companies.” 

*Gartner, Magic Quadrant for Life Insurance Policy Administration Systems, North America, 10 August 2021, By Richard Natale, Rajesh Narayan

GARTNER and Magic Quadrant are registered trademarks and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.

Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

The post EIS Marks Year Anniversary of Life and Annuities Expansion with Two Leading Group Insurers Signed and New Products Released appeared first on EIS.

COVID-19 continues to accelerate digital transformation initiatives in the insurance industry, necessitated by the mandate to meet new and increasing customer demands. In fact, according to a global survey from KPMG International over 85% of insurer CEOs have confirmed the impact digitization has had on their business, with mounting pressure to satiate ever evolving customer needs, and from digital competition, that has forced purchasing online. It is becoming increasingly clear that 2022 will be another tumultuous year of threats and opportunities for insurers as they continue to face rapidly changing, often unchartered territory.

In 2022, EIS cautions that insurers need to focus on enhancing their technology if they want to stave off competition, especially from agile insurtechs. To be best prepared for the ‘unexpected’ and to swiftly accommodate continued market changes, EIS believes that insurers need to be equipped with technology that is flexible, open, able to support rapid integrations across various lines of business, and, perhaps most importantly, customer centric. 

According to EIS, the following four trends will dominate the insurance industry in 2022:  

The Year Insurers Realize the Value of Insurtech via Coretech 

Over the past few years, insurance companies have invested heavily in insurtech. In fact, global market research firm Technavio is predicting the insurtech market “has the potential to grow by USD 33.73 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 45.28%.” 

For insurers, the advantage of partnering with insurtechs is that they can supplement their existing product portfolio or simplify internal operations in a fast, low-cost way without having to build the internal expertise or applications themselves. 

Insurtech to date, however, has delivered transformation on a relatively small scale via standalone projects or point solutions, and continuing to innovate in this one-off, loosely connected manner will eventually become too difficult to manage and collapse under its own weight. To capitalize on its full potential, insurers must connect insurtech to their core business. However, most insurers have legacy systems not designed to accommodate this. It requires a new breed of cloud-native microservices and API-based core systems that are customer-centric by design, called “coretech”.  Insurers will quickly ramp up their adoption of these solutions in 2022 and beyond. Coretech has the ability to successfully enable the new ecosystems that bring together core operations and insurtech innovation. 

“Insurance providers’ investments into insurtech, while great, landed many insurtechs in the basement; never to be used due to the lack of value they brought to the table,” said Samantha Chow, Global Market Lead for LA&H at EIS. “With coretech, insurers can successfully integrate insurtech solutions into their operating systems to garner their full potential. That’s the value coretech brings to insurtech.”

Convergence of Life and Non-Life Insurance Lines

In 2022, EIS fully expects Life and non-Life insurance lines to converge and provide the one-stop-shop experience today’s consumers are actively seeking. Insurers will make a sustained effort to broaden their product portfolios to become more “sticky” with consumers. They will place increased focus on simplified buyer journeys that make data-driven supplementary product/service offers that are attractive to customers and drive revenue growth and customer loyalty. Retention is increased with each additional product customers buy. Full-stack insurtechs, such as Lemonade, and leading incumbents are pursuing this model vigorously. 

Bancassurance, for instance, which traditionally distributes both Life and non-Life products, and faces a surge in demand from an aging global population, is well-positioned to benefit from this trend as it adopts new digital strategies to improve customer access and engagement.

Insurers Get Real about Ecosystems 

“Ecosystem” has become a much-overused buzzword in the insurance industry, however the ability to understand and actually orchestrate or even participate in ecosystems has been sorely lacking. However, EIS believes an understanding of the cultural shift required and the best practices of designing customer-centered ecosystems will emerge in 2022. Consumer needs have changed and no one company can meet those needs. Insurers will take an outside-in perspective to rethink their value proposition to determine how they can best fit into consumer ecosystems. 

Because no single partner needs to build and orchestrate all the components, the ecosystem approach accelerates innovation — with one company’s innovation efforts furthering all others. In fact, 66% of insurers are already partnering with non-insurers to diversify their customer offerings and stand to drive much greater benefit from this innovation in 2022.

“To capitalize on their full potential, and succeed in ecosystems, incumbent insurers must fully connect insurtechs to their core business,” said Anthony Grosso, Global Head of Marketing at EIS. “To do so, insurers need to create a new breed of technology platform; one that is capable of quickly connecting, disconnecting, and reconnecting with other systems, platforms, and partners. These coretech platforms will enable continuous reformulating of ecosystems as customer needs, expectations and preferences evolve.”

The Growing Importance of Technology in the Broker/Insurer Relationship 

A recent survey of workplace benefits brokers conducted by Wellfleet and EIS revealed that while brokers are increasingly embracing their roles as advocates for employer clients, they find themselves in an uphill battle with legacy technology. This is critical because according to the aforementioned survey, technology is the number one reason brokers will recommend a carrier to a client. 

Brokers understand that good technology is critical to successfully meeting the needs of clients and building long-term relationships. At the same time, LIMRA reports that more Life insurer executives than ever cite technology as their companies’ number one challenge. Helping brokers support employers’ benefits managers will take on greater importance for insurers.

“The tangential effects of the pandemic continue to ignite the clarion call for digital transformation initiatives that will enable insurers to evolve today to ensure success tomorrow and for many years to come,” concludes Grosso. “Those leading insurers that successfully navigate the transition to digital ecosystems will be the ones that will thrive in this new normal. They rightfully see this as not only an investment in their own future success but, more importantly, successfully meeting the needs of their valued customers.”

The post EIS Projects the Rise of Coretech and the Convergence of Life & Non-Life Lines in 2022 Insurance Trends Forecast appeared first on EIS.

EIS has grown its global presence by enabling insurers to rapidly create and deploy new products and services that engage insurance consumers. It is looking to transform the EMEA insurance markets with its digital-first coretech capabilities, bridging the gap between insurance companies and insurtechs to create customer-centred products and services.

Jarron comments “Our aim is to invigorate the market, which until now has faced challenges adopting the latest digital innovations. The City of London is an obvious location to establish our EMEA HQ, surrounding ourselves with some of the world’s leading insurance players like Axa UK and AIG Life. Being situated in a hub of insurance innovation makes it easier to introduce EIS to potential customers and innovation-minded partners.” 

The new London HQ comes on the back of raising ​​a growth investment of more than $100 million in June. The new office is a crucial step for EIS’s growth plans, bolstered by successful customer engagements and strong market interest in EIS solutions. Since launching in Europe in early 2020, EIS has quadrupled its marketing, sales and operations staff and added several hundred people in software development and services roles in the region and that pace will continue. 

Jarron adds “We are helping move the insurance sector away from being product-centered to one that looks at the human problems it can solve. Helping insurers think and act like tech companies and build ecosystems around new business models is essential for this rapid evolution, which we’re expertly placed to support.”

The post Digital Insurance Platform EIS Cements Expansion into EMEA with New London HQ appeared first on EIS.

According to the inaugural Workplace Benefits Broker Survey, brokers’ top six carrier pain points are all IT-related. They include commission structure (52%), billing errors (48%), lack of real-time data insights for the broker and client (44%), time to underwrite the group (43%), and limited plan customization and slow data processing time (42%), respectively.

The survey, conducted to gauge broker sentiment on partner technologies, also examined factors that impact broker satisfaction and their ability to be successful partners with carriers in the current workplace benefits market.

“Brokers play a critical role in helping to educate and develop benefits strategies for their employer clients,” said James Ocampo, Executive Vice President, Wellfleet Workplace. “What this research makes clear is that too often legacy technology is a barrier to, rather than an enabler of, brokers. This prevents them from taking a more active role in guiding and assisting employer clients.”

The top three factors that influence brokers’ carrier recommendation are technology (59%), financial rating (57%) and the claims submission process (36%). As key advisors and champions of their clients’ needs, brokers recognize the critical roles these factors play in the successful enrollment, education and payment of benefits for their client partners.

“Having a team with more than 300 years of collective experience in the workplace benefits space, we had assumptions about workplace benefit brokers’ sentiments,” stated James Ocampo. “Conducting a survey allowed us to tune in to direct, authentic feedback, so we could move beyond past experiences, expectations and biases. These findings serve as validation for why we started Wellfleet Workplace, while also helping to guide future enhancements for a better broker experience.”

“Employers are stretched thin with the management of their current benefits programs, as well as crafting and implementing benefit strategies that resonate with their employees. When you add in a poor technology experience, the pressure HR benefits managers feel grows exponentially,” said Samantha Chow, LAH Markets Lead at EIS. “The survey findings reveal the carriers that are able to provide meaningful solutions are going to excel.“

“Wellfleet’s flexible products, focus on servicing and digitally-forward Lighthouse administration platform powered by EIS,” added Chow, “make the company uniquely positioned to deliver those solutions today and into the future.”

To learn more, visit wellfleetworkplace.com/benefits-broker-survey

Contacts:

Liam Collopy
C 415.517.9760
lcollopy@hardenpartners.com 

Jennifer Picard
413-452-5360
jpicard@wellfleetinsurance.com

About Wellfleet

Wellfleet Insurance is a Berkshire Hathaway company focused on delivering customer-centric insurance solutions through flexible product offerings and quality service. With an A++ financial strength rating from A.M. Best, Wellfleet’s goal is to protect people against risk throughout every stage of life — from grade school to college, the workplace, and beyond.

Headquartered in Springfield, Mass., Wellfleet’s Workplace division delivers high-quality, customizable benefit solutions through a suite of voluntary products, including Accident, Critical Illness, Hospital Indemnity and Short Term Disability Income Insurance. For more information, visit WellfleetWorkplace.com

Wellfleet is the marketing name used to refer to the insurance and administrative operations of Wellfleet Insurance Company, Wellfleet New York Insurance Company, and Wellfleet Group, LLC. All insurance products are administered or managed by Wellfleet Group, LLC. Product availability is based upon business and/or regulatory approval and may differ among companies.

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EIS entered the UK market just a year ago and has already made significant headway. The company has helped established players in the insurance sector to modernise their core systems and digitise back-end and customer-facing processes, effectively replatforming to serve today’s demanding digital customers. Jarron’s role will be to build and lead the EIS team as it rapidly expands across Europe, adding customers to its growing global roster. 

Commenting on his appointment, the new MD is very clear on his roles. “I am energised about the opportunity for EIS in the EMEA market. The timing and product offerings are spot on and the ability to hand-pick an elite team was ideal. Our aim is to shake up a market which until now has been if not unaware, then reticent to adopt the latest digital innovation. My goal is to put EIS in front of every possible potential customer and accelerate the transformation of the crucial insurance sector.”

“I have observed much of the market hanging fire on a full-throated commitment to digital transformation because solutions have been lacking,” added Rupert.  “What brought me to EIS is how their solution – with its digital-first, coretech capabilities for customer-centered product and service innovation – is what the industry has longed for but was unable to find, until now.” 

Jarron clearly outlines his three shorter-term priorities as aggressively closing deals in the current pipeline, opening up new markets for EIS and scaling up operations to match the market desire he has picked up from initial conversations with his extensive network of insurance sector contacts. Longer term, he has his eyes set on replacing legacy competitors in major insurance players across each region and with a EIS partner strategy that is going from strength to strength. 

In December, Jarron will open up the new EIS European headquarters office, in the London insurance district, welcoming current customers, prospects and partners, including the Big Four with a special event. For your invitation please RSVP to eis@positivemarketing.com

The post Digital Insurance Platform EIS Appoints Rupert Jarron to Lead EMEA and Accelerate the Pace of Market Transformation appeared first on EIS.

Jaden lost his father at the age of five due to complications from a hemorrhagic stroke. Since his father had no life insurance, Jaden’s family had to rely on friends to pay for funeral services and meet other expenses. 12 years later, the family continues to face the financial and emotional repercussions of their loss.

“A college education is a major financial challenge for most American families, but it becomes much more difficult after the loss of a parent or guardian, especially if they haven’t purchased sufficient life insurance. We are delighted to be able to support Jaden,” said Alexandra Schwartze, EIS’ vice president of global human resources. “As we celebrate Life Insurance Awareness Month, it’s important to note that 100 million Americans don’t have any life insurance, and most have far less coverage than recommended.” 

“As part of EIS’ participation, and to raise awareness of the need for protection,” added Schwartz, “EIS employees have also shared their own compelling stories of how life insurance has had a positive impact on them and their families.”

The loss of a parent or guardian is one of life’s most difficult ordeals. The emotional strain can be devastating to children and young adults. For too many families, an untimely death also brings financial stress, making recovery all the more difficult. 

Students can apply for the program during the month of February by submitting either a 500-word essay or a three-minute video describing the emotional impact of losing a parent and the financial impact that the lack of life insurance created. Since its inception, Life Happens has awarded more than $2 million to 600 students. 

For more information about the Life Lessons Scholarship Program, please visit: www.lifehappens.org/lifelessons. For a scholarship application, please visit www.lifehappens.org/scholarship.

Matt Conroy
Stanton PR
mconroy@stantonprm.com
+1.203.610.1421

The post EIS Announces 2021 Winner of the EIS Life Lessons Scholarship appeared first on EIS.

“We’re very proud of this recognition, which demonstrates our market momentum, strong product coverage and commitment to providing insurers with a flexible, digital-first solution that meets the needs of their constituencies across the life, health and annuities spectrum, including individual beneficiaries and employers,” said Samantha Chow, LAH markets lead at EIS. “Success in claims is about keeping your promise to customers and reducing pain points, whether it’s automating intake of an individual policyholder first notice of loss or enabling an employer to seamlessly navigate the complexities of absence management for thousands of employees.”

As the report notes, though property/casualty insurers have set the bar for customer expectations and real-time processing, the life/health/annuities market is rapidly evolving, and carriers are under increasing pressure to deliver better user experiences.  The report features examples of EIS’ absence claim management capabilities as well as its core life, annuity and health claims.   

“Employers are facing the challenge of managing the complexities of the absence management process including the changing regulatory requirements that impact this space,” said Nancy Casbarro, Vice President of Research & Consulting, Aite-Novarica. “Solutions that can simplify, automate, and manage absence can help employers be more effective, efficient, and compliant.”

EIS’ ClaimCore helps insurance providers deliver on these expectations with a cloud-native microservices architecture that insurers can either use as a stand-alone alone solution, or pair with any number of components of the broader EIS OneSuite. Key ClaimCore functions include workflow-driven, event- and role-based claims processing, fraud detection, strong mobile capabilities across personas, integration with Customer 360 and its party model, and a business intelligence reporting tool that includes AI for insights.

For more information, view the market analysis and full EIS excerpt from Aite-Novarica here.

The post Aite-Novarica Ranks EIS as “Contender” in New Report on Life/Health/Annuities Claims Systems appeared first on EIS.

The report evaluated EIS OneSuite™, a cloud-based platform for insurance carriers that provides core, data, and digital capabilities across multiple lines of business, including life, worksite, and individual benefits, and property and casualty.

“Insurance companies are now entering the third phase of pandemic renewal in which they resume their strategic path toward digital transformation. In this phase, business priorities will shift dramatically as the focus moves from cost cutting, to cost optimization, to business renewal. In the renewal phase, insurance companies position for their strategic future and begin again to consider transformative change as opposed to simply optimizing existing business processes. CIOs should be evaluating policy administration system (PAS) replacement within this context,” according to the report’s authors.

A complimentary copy of the full report is available here.

“To be recognized as a Leader this year is both exciting and enormously gratifying,” said Samantha Chow, LAH markets lead at EIS. “In our opinion, it underscores our dedication to developing an agile solution that supports the needs of carriers in the individual and group life insurance markets where customer needs, products and distribution models are changing rapidly. It is great to see our differentiated approach and ability to deploy cloud-native technology to the market validated. To reach the Leader category in just three years since qualifying for our first Magic Quadrant, we believe reflects the speed at which we have been able to develop and deploy our solution.”

The EIS OneSuite for life and annuity carriers provides carriers with a rapid path to digital transformation. The core platform enables insurers to grow through product development, market expansion, data-driven decisions, and customizable ecosystems. It leverages a digital and mobile-first approach, is cloud-native, and built on open APIs and microservices, enabling carriers to react like insurtechs: fast, simple and agile. The platform provides end-to-end capabilities out of the box yet is entirely flexible to integrate with both modern tech solutions and legacy, acting as the hub for ecosystem development. 

* Gartner, Inc. “Magic Quadrant for Life Insurance Policy Administration Systems, North America”, Richard Natale, Rajesh Narayan, August 10, 2021.

Gartner Disclaimer

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of  Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Gartner and Magic Quadrant are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved

Media Contact

Matt Conroy
Stanton PR
mconroy@stantonprm.com
203.610.1421

The post EIS Positioned as a Leader in the 2021 Gartner® Magic Quadrant™ for Life Insurance Policy Administration Systems, North America™ appeared first on EIS.

Founded in 2008, EIS is an insurance software company that enables leading insurers to innovate and operate in faster, more secure, and agile ways. The EIS OneSuite is an open, flexible platform of core systems and digital solutions that liberate insurers to accelerate and scale innovation, launch products faster, deliver new revenue channels, and create powerful customer experiences. With thousands of open APIs, the EIS platform gives insurers across all lines of business the freedom to connect to—or serve as a hub for—a vast ecosystem of insurtech and emerging technologies.

“We are excited to partner with TPG as we continue to bring our best-in-class, cloud-native suite of technology solutions to insurers across the globe,” said Alec Miloslavsky, Founder and CEO of EIS. “The team at TPG is aligned with our ambitious growth strategy and their longstanding track record, industry relationships, and deep expertise make them an ideal partner for EIS as we propel our business forward. The investment will help us to continue to meet growing client demand as insurers transition from outdated ‘modern legacy’ systems toward a platform that provides the flexibility, speed, openness, and security that today’s highly competitive market requires.”

The customer-centric EIS OneSuite is a unique multi-line platform combining depth in relevant lines of business, the modern architecture of insurtech, and proven scalability that supports the largest API-first, cloud-native core system implementation in the world. EIS serves clients across North America, Europe, and Asia and the platform-agnostic EIS OneSuite can be deployed on AWS, Microsoft Azure, and Google Cloud.

“Digital transformation of insurance has been a longstanding theme for TPG and we believe EIS is a solution built for the future of the industry,” said Nehal Raj, Partner at TPG. “Alec and his team have built a powerful platform that enables insurers across the globe to operate more effectively, become more customer-centric, and achieve better speed to market. We look forward to working closely with the company to build on their strong momentum.”

Some of TPG’s investments in the insurance space have included Vertafore, a leader in modern insurance technology, and CCC Information Services, a leading SaaS provider to the automotive, insurance, and collision repair industries. The firm has been an active investor in technology since inception, with current and past software investments including C3 AI, Kaseya, McAfee, Planview, ThycoticCentrify, WellSky, Wind River, and Zscaler.

GCA acted as the exclusive financial advisor to EIS on the transaction. William Blair acted as financial advisor to TPG, and Kirkland & Ellis served as legal counsel.

About TPG

TPG is a leading global alternative asset firm founded in 1992 with $96 billion of assets under management and offices in Beijing, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Mumbai, New York, San Francisco, Seoul, Singapore, and Washington D.C. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth equity, impact investing, real estate, secondaries, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com or @TPG on Twitter.

Contacts

TPG
Courtney Power and Julia Sottosanti
media@tpg.com
+1 415-743-1550

EIS
Matt Conroy
Stanton PR
mconroy@stantonprm.com
+1.203.610.1421

Courtney Rowan
Positive Marketing
eis@positivemarketing.com
+44 (0)7917 439888

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The COVID-19 pandemic has dramatically changed the landscape for insurance carriers and is accelerating the move to outsource more IT platforms, which enables organizations to virtualize infrastructure for a remote-friendly workforce, while rationalizing operational costs. Renaissance deployed the EIS OneSuite™ in the cloud in 2020 to support product development and management and end-to-end workflows, from quoting and case installation to billing and claims processing.  By now moving its core systems to EIS’ SaaS platform, Renaissance will be able to realize greater efficiencies, operate more nimbly and easily scale its infrastructure to meet the evolving needs of insureds.

“Moving these applications now to the EIS® SaaS platform and working within its cloud-native architecture will allow us to further direct our focus to core business priorities without the burden of managing multiple vendors or continually monitoring systems,” said Jeff Kolesar, Chief Operating Officer at Renaissance. “In addition, the move from cloud to SaaS delivers greater performance and streamlined service delivery.”

The EIS SaaS platform takes on the entire burden of key corporate IT functions, while accelerating core processes. EIS OneSuite is a truly cloud-native, API-first core platform that allows insurers to innovate and operate like tech companies: fast, simple, and agile. What’s more, EIS SaaS customers have the same extensibility and configurability that non-SaaS customers enjoy and because EIS® SaaS supports the same EIS OneSuite version that customers may have on-premise or in the cloud, customers have the flexibility to move between deployment models.

“EIS SaaS delivers our market-leading core insurance suite in a fully managed environment allowing our customers to focus their IT efforts on the needs of the core business; rather than thinking about how to run infrastructure,” said Stepan Stadnyk, Vice President of SaaS and IT Operations at EIS. “When a customer signs on for the EIS® SaaS platform, they receive a set of URLs to use and that is the end of their responsibility. We take care of everything else, while conforming to an agreed set of SLAs for performance, uptime and support. This frees IT bandwidth to focus on business innovation and delivering greater value to their customers.”

The EIS SaaS delivery model affords insurance companies a host of business, financial and technical benefits including:

• Cloud-native to accelerate the start-up process, reduce costs, and scale endlessly
• Low code/no code configuration
• Easy integration with other platforms and cloud solutions
• Real-time application and infrastructure management
• One predictable subscription price
• Seamless application updates delivering new capability as it becomes available
• 24x7x365 resiliency built on a distributed architecture
• Highest standards of security and compliance
• Ability to connect to core systems from anywhere at any time

“Carriers are increasingly looking to SaaS solutions that virtualize their technology infrastructure, so they can redirect valuable resources away from IT toward more critical initiatives, such as product innovation,” said Tom Benton, Vice President, Research and Consulting at Novarica. “Solutions like EIS’ SaaS offering are built to be cloud-optimized and provide carriers with the benefits of improved performance and scalability via serverless computing and cloud databases, along with tighter integration with cloud-only services for analytics and AI.”

About Renaissance

Renaissance Life & Health Insurance Company of America and its sister company Renaissance Life & Health Insurance Company of New York offer ancillary benefits for employer groups and individuals nationwide. Dental, vision, life and disability insurance comprise the core line of the company’s ancillary benefits solutions. With headquarters in Indianapolis, Ind., Renaissance is focused on providing its members and partners with outstanding products and service. Visit www.renaissancebenefits.com, and find us on Facebook, LinkedIn, and Twitter.

The post Renaissance Life & Health Insurance Leverages EIS’ SaaS Platform to Drive Business Success appeared first on EIS.

“We’re excited that Atlantic American Employee Benefits chose EIS for this transformation initiative and  look forward to working with their team to leverage modern coretech and deliver an outstanding  experience for brokers and their clients, from quote to claim,” said Alec Miloslavsky, EIS CEO. “By  helping them move to a more automated model that delivers greater efficiency, more functionality and  more intuitive user interface, our core technology will help accelerate their growth in the voluntary  benefits space.”

“We recognized there was a great growth opportunity in worksite benefits, but in order to scale  efficiently over the long term, we needed to move away from legacy technology,” said John Dunbar,  Chief Information Officer at Bankers Fidelity. “To automate quoting, proposal, underwriting, billing and  claims processes and provide the kind of responsive policy administration experience brokers expect, we  needed a platform that would make it easy for brokers to do business with us. We selected EIS because  its modern platform is proven in the market and will support our future growth. ”

Atlantic American Employee Benefits anticipates the transformation will provide greater flexibility and  less manual intervention, while allowing it to streamline engagement and get new policyholders quoted  and onboarded more quickly. In addition, the SaaS delivery model will be cost-effective, reduce the  burden of IT support, and provide continuous upgrades to processes and products.

The EIS OneSuiteTM will initially support the carrier’s critical illness, accident, hospital indemnity, whole life and  disability products.

About Bankers Fidelity

Bankers Fidelity Life Insurance Company has provided tens of thousands of Americans with valuable,  customer-oriented insurance products for over 60 years. Its record of bringing innovative products and  value-added services to market has established Bankers Fidelity Life Insurance Company as a proven  leader in the life and health insurance industry. Bankers Fidelity Life Insurance Company is rated A- (Excellent) by A.M. Best Company and holds 4.7 out of 5 stars based on customer satisfaction reviews.  For more information, visit Bankersfidelity.com or follow on LinkedIn.

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Galdenzi recently joined EIS from NASCO, the digital health solution provider for Blue Cross and Blue Shield health plans, where he worked as SVP and Chief Growth Officer. Previously, he served as CIO at BlueCross BlueShield of Vermont, where he led the organization’s journey into a member-first culture and oversaw their four-year core administrative system migration onto NASCO. With nearly 25 years of progressive technology, business, and innovation experience in healthcare IT, Galdenzi brings a deep understanding of the market and a fundamental belief in the disruptive nature of modern technology to EIS.

“As health insurers look to diversify their offerings into ancillary services such as dental and vision, we see a great opportunity to provide them with a platform that can meet their digital needs and serve as a springboard for broader transformation,” said Galdenzi. “Healthcare has lagged the modernization movement embraced by other insurance sectors where EIS is successfully partnering to deliver disruptive technologies. We are assembling a team that has a deep knowledge of the unique challenges healthcare organizations face as they seek to reimagine their core IT systems and we look forward to employing our expertise to help them overcome barriers to transformation.”

“EIS is excited to welcome Dan to lead our healthcare initiative and build a world-class team to drive it,” says EIS’ Chief Executive Officer, Alec Miloslavsky.  “Dan is an industry authority, with a first-hand understanding of the challenges health insurers face as they leverage leading-edge technology to provide better experiences, while diversifying their services and moving into new markets.”

Dr. Mark Boxer, a member of EIS’ Board of Directors, a former Cigna executive and an internationally recognized innovator and technologist with more than 25 years of experience in digital health, healthcare technology, and analytics added,  “With the growing focus of insurers on delivering personalized and integrated experiences to customers, enhancing provider productivity and improving outcomes and affordability, the industry should heartily welcome the EIS initiative to help it support a broader ecosystem of products and services and use the newest technologies to do it.”

For more information, visit EISGroup.com.

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Built on EIS’ cutting-edge core system and digital experience platform, Lighthouse by Wellfleet supports a personalized, proactive, and connected user experience for brokers, clients and members. Features of the platform include its ability to support a single system of record; smoothly connect with clients’ chosen HR technology platforms; and seamlessly exchange data from quote to claim.

Lighthouse is further enhanced by Wellfleet’s commitment to responsive, personalized service with reliable data. Each Wellfleet client is partnered with a dedicated Client Manager, who ensures benefits solutions are delivered how and when clients want them, while providing ongoing support from implementation through re-enrollment.

“Many carriers use a patchwork of dated legacy systems for quoting, enrollment and claims. These systems were not built to work together, which leads to errors and inefficiencies that brokers and their clients should not have to endure,” stated James Ocampo, Executive Vice President and head of Wellfleet’s Workplace Benefits division. “That’s why Wellfleet chose to invest in the development of Lighthouse, a highly-digital, customer-centric platform that delivers a consistent, multi-channel experience supported by authentic end-to-end service.”

A recent survey conducted by Wellfleet and EIS identified the top five pain points brokers experience with their carrier partners and the solutions Lighthouse delivers:

1. Time to receive quote – Lighthouse supports the crafting of highly-customized and flexible plan designs, which simplifies and expedited the quoting process.
2. Billing errors – As an end-to-end platform, Lighthouse powers the flow of accurate data from quote to claim, ensuring bills are accurate.
3. Quoting errors – Leveraging the clean data input at time of quote, Lighthouse seamlessly deploys the approved case-build file, ensuring the proposal, policy administration system, and enrollment systems are built in sync.
4. Lack of real-time data insights for the broker and the client – With its single source of truth, Lighthouse delivers accurate, meaningful data in real-time.
5. Slow data processing time – Lighthouse validates enrollment data in hours or days, not weeks.

“EIS and Wellfleet have invested in the future of workplace benefits by building a groundbreaking, fully digital experience for the market,” said Samantha Chow, LAH Markets Lead at EIS.

“By coupling Wellfleet’s attentive servicing and deep knowledge of broker pain points with EIS’ open, cloud- and API-based technology, we’ve developed a vibrant, customer-centric ecosystem for Wellfleet’s distribution, data and service partners,“ said Chow. Lighthouse leverages the EIS OneSuite™ of software solutions to support broker and customer lifecycles from rating and quoting, policy issuance and administration, to billing and claims management.

“Lighthouse has been a highly-anticipated and long-needed market offering,” noted Drew DiGiorgio, Wellfleet President and CEO. “Launching it to the market is the cornerstone of Wellfleet’s long-term strategy to offer next-generation tools and services that give customers what they want – a personalized user experience supported by a team of industry leaders and experienced support staff.”

To learn more, visit www.wellfleetworkplace.com/lighthouse.

The post Wellfleet Breaks Barriers with Launch of “Lighthouse,” Leveraging the EIS Platform appeared first on EIS.

By going digital-first for customer acquisition, servicing and claims, esure seeks to stand out from the competition. EIS will help deliver a customer-centric platform, which will increase the number of customer interactions conducted through online channels and self-service functionality.

David McMillan, CEO at esure, said: “We’re on a mission to transform our business into a world-class digital insurer, and to disrupt the insurance industry. The flexible EIS platform will help us leapfrog the competition by providing a tech enabled customer experience, tailored propositions and attractive pricing. Our strategic partnership with EIS is an exciting and significant milestone on our digital transformation journey.”

esure is embarking on a transformation programme that will result in a world-class digital ecosystem, leveraging cutting edge processes and technology. This programme includes the delivery of a new insurance technology platform which fits into its evolving architecture – cloud-enabled, open, and compatible with microservices and API stacks. Once implemented, the architecture will be the foundation of esure’s digitalisation process. To maintain agility and support policyholders’ evolving needs, EIS provides an intuitive, highly configurable, rules-based platform for underwriting and new product innovation, while managing cost efficiencies for ongoing maintenance and support.

EY, a global market leader in business and technology transformation, is supporting esure and EIS to deliver this large-scale digital transformation, which spans the entire business model as it moves to becoming digital-first.

To create a seamless customer experience, esure will be deploying the EIS platform’s fully integrated applications, PolicyCore®, BillingCore®, ClaimCore®, CustomerCore™, CustomerCore CEM™, and EIS DXP®, gaining end-to-end business capabilities that support digital enablement at every touchpoint.

“It’s fantastic to know we are helping esure lead the industry’s digital revolution through the reinvention of the buyer journey and full quote-to-claims process,” explained Alec Miloslavsky, EIS CEO. “Our Customer Compass survey told us the minority (43%) of UK policyholders consider their insurance providers are responsive to their needs. For insurers to thrive in this digital-first world, they’re accelerating their digital transformation projects to deliver a proactive, omnichannel experience that their customers are looking for.”

About esure

Founded in 2000, esure Group is one of the UK’s leading personal lines insurers. The Group provides motor and home insurance products through the prominent esure and Sheilas’ Wheels brands, and currently has a total of more than 2.4million policyholders. The Group is dedicated to building world-class insurance fundamentals across pricing and underwriting, claims and customer service, underpinned by data and analytics – the DNA of insurance. Looking forward, esure Group is progressing its digital transformation programme to become a world-class digital insurer, focused on the development of a new technology platform, its customer propositions and data assets.

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“The life and annuities landscape is rapidly shifting from a product focus to a people focus,” said Samantha Chow, LAH Markets Lead at EIS. “With customers demanding more efficient, engaging, and personalized experiences, and agents and underwriters seeking more digital workflows, life and annuities providers understand that simply retrofitting legacy systems cannot provide a clear path to true digital transformation. In fact, our research shows that 88% of insurance professionals believe that legacy systems are preventing transformation. By providing a cloud-native, API-first coretech suite that is flexible, easy to upgrade, and works across all lines of business and distribution channels, we are giving insurers the ability to reimagine their business, scale quickly, upgrade efficiently and innovate freely, while reducing technical debt.” 

EIS has been named a Challenger in Gartner’s recently published report Magic Quadrant for Life Insurance Policy Administration Systems, North America. EIS was also named the “Best-in-Class” life policy administration (PAS) vendor in Aite Group’s most recent L&A comparison report, AIM Evaluation: Life PAS Vendors’ External Third-Party Data Integration Capabilities.

EIS OneSuite simplifies and integrates all phases of the life insurance lifecycle: 

• Product Development: Featuring an architecture that enables growth and can be configured to meet insurers’ individual needs, EIS OneSuite leverages automated, reusable rules, making traditional product libraries a thing of the past. Insurers can test and learn quickly, getting to market with new products ahead of the competition—in a matter of weeks rather than months. 
• Marketing and Distribution: The EISⓇ platform can help transform marketing and sales, by giving agents, through the EIS Agent App, an intuitive interface to organize and simplify sales activities with data-driven insights and have more meaningful and personalized engagement with customers throughout the entire application-to-claim lifecycle.
• Purchase and Underwriting: Leveraging rapid data collection from hundreds of sources and advanced predictive modeling, insurers can replace expensive manual product underwriting with logic and automation, leaving the underwriter to focus on what they were hired for, evaluating risk.
• Claims: EIS OneSuite helps life and annuities insurers manage complex claims through more effective claims prevention, fraud detection, and automated claims handling while keeping the agent notified throughout.
• Ongoing Customer Engagement: With its API-first architecture, EIS OneSuite provides easy connectivity to partners and third-party data sources, giving carriers more freedom to offer ancillary services and increase revenue. The ability to manage all lines from one platform also makes bundling, cross-selling, and retaining and renewing customers easier and more seamless.

Using EIS’ CoreVelocity™ delivery methodology, insurers can also avoid costly “big bang” upgrades and deliver new capabilities faster, using speed as a competitive advantage. 

“COVID-19 caused life and annuities insurers to reprioritize and accelerate digital initiatives and improve workflows. Their response to pandemic conditions exposed gaps in manual and paper-based processes, leading them to rethink how to improve operations and to better meet customer expectations,” said Rob McIsaac, Executive Vice President, Research & Consulting at Novarica. “Insurance technology providers like EIS are helping insurers by providing solutions that support the digitally-enabled future of life insurance.”

To find out more about Reimagining Life Insurance, visit our website.

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The report explores some of the key trends within the core systems market for P&C carriers and discusses the ways in which technology is evolving to address new market needs and challenges.

“EIS has focused on building a coretech platform that enables insurers to more easily create an ecosystem of services, data, and partners, and to build and distribute customer-centered insurance products in new and emerging B2B and B2C business models,” says Tony Grosso, Global Head of Marketing, EIS. “We are proud that Aite Group—and our customers—have recognized our leadership in providing the industry the most open, ecosystem-friendly core and digital platform.”

EIS stood out against much larger and publicly-traded competitors in the overall scoring of Aite’s AM Components, which include Vendor Stability, Client Strength, Client Services, and Product Features. EIS achieved best-in-class scores in three categories,  including a tie top score of 96% for Product Features and a shared second place at 93% for Client Services, based on customer feedback.

“P&C insurance carriers worldwide are being asked to provide more customized and personalized experiences for their policyholders, such as quicker and more accurate underwriting decisions or a facilitated claims process. To make this happen, carriers increasingly rely on third-party data and on a core system that can integrate this data into various workflows,” said Jay Sarzen, senior analyst with Aite Group’s P&C Insurance practice. “EIS responded to the market need with an open platform that can meet the evolving needs of a wide range of carrier clients. Any carrier looking for a flexible and highly capable platform that can deliver a digitally focused experience would be well-served by EIS OneSuite.”

According to the report, the best way for carriers to meet evolving customer and prospect expectations is to employ a more digital experience, the foundation of which is data. This means that a core system’s ability to seamlessly integrate copious amounts of existing and emerging data into carrier workflows is critical for digital evolution. The report cited several EIS OneSuite best-in-class strengths to that end:

• Data Integration: EIS is one of a small handful of vendors that can integrate all of the data types asked about in the survey without any customization and fully support integrating data into every key component.
• Product Features: The driver of the EIS OneSuite’s high score was overall depth and breadth of product features, client favorability of these features, and the platform’s user interface and functionality.
• Client Services: Factors that drove EIS OneSuite’s high score were client perceptions of overall cost value, the ability to deliver on promises, a vendor’s range of deployment options, and the breadth of support offered to clients.

“Customer-centered transformation is the most pressing need for P&C insurers to succeed as the industry evolves,” said Rowshi Pejooh, Executive Vice President, Product Management, EIS. “The high scores earned by the EIS OneSuite in this report validate our promise of enabling insurers to act more like tech companies so they can innovate quickly in response to changing customer demands across multiple business lines and distribution channels.”

For more information, view the market analysis and full EIS excerpt from the Aite Group report.

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“With EIS UBI, we are solving one of the biggest challenges to insurers as consumers increasingly demand coverage tailored to fit their lifestyle, be it infrequent drivers seeking mileage-based policies, safe drivers who want to be rewarded for their good driving habits, or drivers earning income from ridesharing, carsharing, and other commercial uses,” said Joel Yarde, Technology Marketing Lead, EIS. “EIS UBI enables insurers to innovate and deliver products for specific uses, take better advantage of telematics, and deliver a great customer experience.”

Through seamless integration of data from a wide variety of telematics and mobile devices, EIS UBI can support multiple models, including miles only, driver behavior, change of use, or any combination of these and other factors.

“The pandemic has been a catalyst for the UBI market, as insurers across the size spectrum look to ramp up programs. Programs to support various telematics and usage-based-insurance initiatives, including ridesharing, are becoming increasingly important,” said Mark Breading, Partner, SMA.  “It is vitally important that modern core platforms like EIS offer new capabilities to support these programs.”

Solution for Ridesharing

The first iteration of the new solution is EIS UBI for Ridesharing, which solves the challenge insurers currently face in accurately underwriting and pricing based on “why” the car is in use. Rideshare drivers may cycle through four phases that cross over commercial and personal lines of coverage: off the clock, on the clock waiting for the first customer, pickup and driving to the destination, and on route to the next pickup. However, typical rideshare policies cover only stages with riders in the car.

EIS UBI for Ridesharing enables insurers to provide continuous coverage with accurate rates and premium billing according to each phase of use, whether personal or commercial. Furthermore, it allows companies to embed insurance offers directly into the driver experience through their driver app and enable real-time or near real-time interactions. EIS UBI for Ridesharing is already in use by one insurer to provide quotes and service to drivers of a top-three global ridesharing company.

Driving Innovation

The foundation of EIS UBI is the robust and extensive event-driven architecture of EIS OneSuite that makes thousands of policy, billing, claims, and customer management tasks, transactions, and interactions available for creating usage-based insurance products.  EIS UBI is the next generation of usage-based insurance capabilities available in EIS’ PolicyCore policy administration platform.

This enables EIS clients to innovate for various scenarios, from providing unified coverage for vehicles or equipment used for personal and agricultural use to public and private carsharing and commercial fleet.

“EIS UBI provides insurers with the tools to create and deploy usage-based products for today’s sharing economy, and to ‘future proof’ their offering as new models of car usage emerge,” said Yarde. “EIS clients have embraced the capability to create new auto coverages and use EIS UBI as a platform to test-and-learn new product innovations.”

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EIS, in partnership with GlobalWebIndex, surveyed 1,057 consumers who own insurance policies in the U.S., the UK, France and Germany, to generate insights into new expectations for customer experience found within the global insurance industry.

As insurers rapidly pivot their business and operational models in response to the global pandemic, those who will thrive in the New Normal will be the insurers who are prepared for digitally-enabled customer interactions. Globally, the top three most important factors for consumers when purchasing an insurance policy are: the ability to purchase products and services online (44%); secondly, the ability to offer dynamic pricing based on the individual consumer’s specific needs (42%); and, thirdly, having an easy-to-use mobile app (32%).

When it comes to digital prowess, consumer opinions of insurers are astonishingly low – only 23% of consumers expect insurers to integrate their experience across mobile, web and in-person channels, while only 19% expect insurers will know them and their preferences following an interaction. This dynamic presents a terrific near-term opportunity for digitally-savvy insurers to exceed expectations and win business.

The data also shows insurers should be focused on how they can provide technology that empowers consumers to manage their financial lives. This sentiment was strongest in the UK, where 72% of respondents want to own and manage their financial lives digitally, compared to 65% and 63% for the U.S. and France respectively.

“Customer expectations outpacing insurer capabilities is the clarion call from our Customer Compass report,” said Anthony Grosso, Head of Global Marketing at EIS. “Getting user experience and personalization right across all digital channels is essential for insurers to meet consumer’s expectations for today’s digital lifestyle.”

“However, insurers who can rapidly re-architect their IT infrastructure to simplify the customer journey, create products that better meet lifestyle and life cycle needs can become the one-stop shop consumers crave,” Grosso added. “These insurers will build consumer confidence and grow their business within emerging consumer ecosystems.”

Three key findings of the report bear this out:

• Opportunity to own the customer lifecycle – There is a 36% gap between consumers who currently use one company for all their insurance needs, and those who would be happy to do so. This is a huge market opportunity being driven by access to new technology and modern pricing models. While 44% of consumers in France currently purchase all their insurance from a single provider, the gap is most pronounced in the UK where only 12% of consumers do the same, yet 60% are comfortable buying from a single provider.
• Subscription and usage-based insurance provide control consumers want – The subscription business model has permeated how consumers access more and more products and services, and they want insurance to follow suit. 66% of those surveyed said they don’t like being tied into annual contracts, preferring to pay monthly, with the option to cancel at any time. The appeal is clear: for consumers, it is a simple, hassle-free offer; for insurers, it is recurring, predictable revenue which can enhance customer loyalty. This desire for control also extends to consumers being only charged based on how often they use services. UK consumers want this level of control the most at 67%, followed by the U.S. at 65% and France at 59%.
• The power of bundling – The advent of open platforms and connected devices is also enabling innovative packaging of insurance and non-insurance products to drive revenue. For example, 55% of consumers were interested in a housing bundle including home insurance, financing, essential home repairs and all home utilities. UK and U.S. consumers showed more interest, at 51%, than French consumers, at 37%.

Download the Customer Compass Report

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Sharon has over 25 years’ executive experience in the insurance industry in both the Property & Casualty and Life & Health segments. She has served as president of Aviva Insurance Company of Canada, and president and CEO of Swiss Re Canada, and launched Canada’s first online insurance marketplace, Kanetix. Sharon has been a member of the EIS board since 2018, providing invaluable insight and guidance to the executive team.

“Sharon is an industry pioneer and leader with a keen sense of what the industry can achieve collectively, and a prevailing interest in the advancement of its people and practices,” said Alec Miloslavsky, CEO of EIS. “We congratulate Sharon on this well-deserved honor and thank her for her significant contributions to EIS and to our vibrant industry.”

As part of her commitment to the insurance industry, Sharon has been a Board Member of the Insurance Bureau of Canada, the Canadian Life and Health Insurance Association, the Institute for Catastrophic Loss Reduction, and the Reinsurance Research Council, where she was Chairwoman.

The awards ceremony, and a fireside chat with Sharon, will occur virtually on Thursday, November 19, 2020. Details are available at www.ibawards.ca.

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In the group benefits landscape, the demand from brokers and employers for simplified, multi-product offerings that are also easy to administer is growing. Renaissance recognized the opportunity to leapfrog ahead with a new end-to-end system that incorporates all of its products and helps to automate and support its workflow — from quoting and case installation to billing and claims processing. Partnering with EIS helped drive this important advance and its success as a multi-line insurer.

“Growth often presents opportunities to find more efficient and effective ways to operate. The EIS solution allowed us to create an ecosystem unifying our core and digital operations across multiple lines of business. At the same time, it provides a digital platform to help us deliver outstanding insurance experiences for our brokers, employer groups and members today and into the future,” said Robert P. Mulligan, President and Chief Executive Officer, Renaissance.

The new platform will be used for creating new insurance products, quoting, enrollment, policy administration, billing, claims, and customer and broker management. In addition, it will facilitate self-service processes to provide a differentiating level of service and efficiency.

EIS’ leadership is excited about the opportunity to deliver a platform that provides Renaissance with extreme product flexibility and cutting-edge digital experience capabilities.

“Renaissance represents the wave of the future,” said Tony Grosso, Head of Marketing, EIS. “Renaissance was early to understand that innovation is tied to success in the marketplace and that a new generation, open-architecture platform can power the type of product and plan flexibility and broker- and customer-first engagement that wins new cases and drives retention.”

It is a testimony to Renaissance’s commitment to digital transformation that the COVID-19 pandemic accelerated rather than stymied progress on the project.

“This transformation program is a high priority for Renaissance. So, we were pleased that with the highly automated, cloud-based, and remote delivery environment provided by EIS, we did not experience any slowdown as an impact of the COVID-19 pandemic.  In fact, once we had managed our immediate organizational response to the pandemic, we were able to commit more resources and increase productivity, helping us maintain our projected schedule for this significant initiative,” said Renaissance Chief Operating Officer Jeff Kolesar.

“EIS is honored to support Renaissance’s digital transformation initiative,” said Alec Miloslavsky, CEO, EIS. “The roll-out was a large undertaking not made any easier by the pandemic disruption. I am proud of the joint effort to overcome that disruption and our work helping Renaissance position itself for the future of the employee benefits market.”

Renaissance has deployed the EIS platform’s fully integrated applications, PolicyCore®, BillingCore®, ClaimCore®, CustomerCore™, CustomerCore CEM™, and EIS DXP® to gain end-to-end business capabilities that support digital enablement at every stakeholder touchpoint.

About Renaissance

Renaissance Life & Health Insurance Company of America and its sister company Renaissance Life & Health Insurance Company of New York offer ancillary benefits for employer groups and individuals nationwide. Dental, vision, life and disability insurance comprise the core line of the company’s ancillary benefits solutions. With headquarters in Indianapolis, Ind., Renaissance is focused on providing its members and partners with outstanding products and service. Visit www.renaissancebenefits.com, and find us on Facebook, LinkedIn and Twitter.

The post Ancillary Insurance Provider Renaissance Rolls Out New EIS Platform to Provide Seamless Digital Sales and Service with a Single Operating System appeared first on EIS.

According to the report, EIS achieved the following scores:

• Highest in New Product Development/Launch Use Case, scoring 3.96 (out of 5)
• Highest in Policy/Contract Change Use Case, scoring 3.99 (out of 5)
• Highest in Digital User Support Use Case, scoring 3.90 (out of 5)
• Third Highest in Group/Worksite Enrollment, Claims and Billing Use Case, scoring 4.61 (out of 5)

“We believe that market demands—more so than ever before—call for PAS solutions that can adapt to disruption with greater product agility and vastly improved digital experiences,” says Samantha Chow, LAH markets lead at EIS. “To excel in the use case evaluations for the second consecutive year is very gratifying, particularly to achieve the highest score in the Digital User Support Use Case for the first time.”

In the report, Gartner states, “Insurers need policy administration system characteristics such as flexibility and IT agility to recover from the COVID-19 pandemic. For insurers to become more agile and resilient, CIOs must match policy administration capabilities with insurers’ needs.”

Gartner notes that, “As life insurance companies move forward with recovery from the COVID-19 crisis, CIOs need to prepare for business renewal. CIOs must reevaluate their PASs for fitness for an expected acceleration in digital sales and services in a virtual work-from-home world.”

EIS’ recognition in Gartner’s Critical Capabilities for Life Insurance Policy Administration Systems, North America report follows the publication of Gartner’s companion report Magic Quadrant for Insurance Life Policy Administration Systems, North America.² EIS was named a Challenger in the latter report assessing vendor ability to execute and completeness of vision.

¹ Gartner, Inc., Critical Capabilities for Life Insurance Policy Administration Systems, North America, Richard Natale and Rajesh Narayan, August 11, 2020.

² Gartner, Inc., Magic Quadrant for Insurance Life Policy Administration Systems, North America, Richard Natale, August 3, 2020.

Disclaimer
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

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The report evaluated EIS OneSuite™, a cloud-based platform for insurance carriers that provides core, data, and digital capabilities across multiple lines of business, including life, worksite and individual benefits, and property and casualty.

“To be recognized as a Challenger this year is exciting and gratifying,” says Samantha Chow, LAH marketing lead at EIS. “In our opinion, it tells us we are meeting the market need and on the right track. We expect continued momentum for EIS OneSuite in the current and post-COVID environment as insurers assess the strengths and weaknesses of their current systems, and plan for a future that supports fully digital operations and business models and adapts to disruption. A modern tech stack designed to rapidly create new frictionless workflows, digitally-enabled products, and fast delivery of new capabilities will be critical.”

“As the COVID-19 pandemic has clearly demonstrated, business operating conditions can change dramatically overnight, and life insurance PASs and the infrastructure on which they operate must be scalable, secure, and adaptable to change,” wrote Richard Natale and Rajesh Narayan analysts, at Gartner, in this report. The report also mentions, “Life insurance CIOs must assure that core insurance processes remain operationally resilient to changing conditions that a crisis brings to the forefront.” It further says, “Life insurance CIOs should be evaluating their PASs now to determine the degree to which they enable, or are a barrier to, this type of resiliency in the face of disruption.”

The EIS OneSuite for life and annuity carriers challenges the status quo. It provides an insurance market, heavily burdened with product-centric legacy technology, a path to digital transformation. The core platform offers the L&A industry a customer-centric framework and enables carriers to grow through product development, market expansion, data-driven decisions, and customizable ecosystems without boundaries. It leverages a digital and mobile-first approach, is cloud-native, and built on open APIs and microservices to foster a wholly modern and scalable tech environment―enabling the carriers to react like an insurtech: fast, simple, agile. The platform provides end-to-end capabilities out of the box yet is entirely flexible to integrate with both modern tech solutions and legacy, acting as the hub for ecosystem development. It delivers continuous software updates that are seamless and keep carriers modern. It is a coretech platform that will take life insurers from 2020 to the 2030s and beyond.

* Gartner, Inc. “Magic Quadrant for Life Insurance Policy Administration Systems, North America” August 3, 2020.

Gartner Disclaimer

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

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As insurers step up the pace of digital transformation to meet market expectations, they need to overcome the hurdles of having multiple products on separate product platforms and a customer experience that is compromised as a result.

The collaboration between EIS and Spraoi is designed to accelerate the simplification of systems and the customer experience and quickly enable new product offerings, distribution, and AI-assisted customer journeys. EIS and Spraoi work as open ecosystem partners. EIS provides a comprehensive, industry-leading set of open APIs that expose the quoting, rating, policy administration, billing, claims, and customer management capabilities within the EIS OneSuite™ of core applications. Spraoi connects to those APIs to build out customer and agent portals within its QuikCover solution and delivers machine learning models to improve operating outcomes from quote to claim.

The integration has already been deployed by Renaissance, a nationwide provider of dental, vision, life, disability and accident products to support a diverse product portfolio and deliver a next-gen distribution and customer experience.

“Through our ongoing partnership with Spraoi, we are taking another step toward helping insurers become the agile and customer-centered organizations that the future of insurance demands of them,” said Tony Grosso, head of marketing at EIS. “EIS is executing an open ecosystem strategy that leverages the native openness of our platform to connect quickly with complementary solutions and compound the business value of carriers’ digital transformations. Insurers can benefit immensely from technology partners that are aligned technically and culturally when building platforms that are responsive to the market.”

In addition to its portal technology, Spraoi’s machine learning models can also positively influence many core processes enabled through the EIS® platform. For example, to improve propensity to buy, as consumers engage with the platform, the solution can deliver recommendations on what products are most relevant to them through EIS OneSuite to the end consumer, based on their persona. In the claims process, Spraoi delivers machine learning models through to the adjusters and various stakeholders for segmentation, assignment, auto adjudication, and fraud detection. The integration of EIS and Spraoi solution is available to the property/casualty and group/voluntary benefits spaces.

“Spraoi is excited by our progressive partnership with EIS because we share a vision of how new generation technologies should be delivered to carriers,” says Karan Mishra, co-founder, Spraoi. “We have a natural fit. Spraoi solutions take maximum advantage of EIS’ fully digital core to provide an enhanced and adaptive user experience. This means insurers get maximum value from their digital transformation investment.”

About Spraoi

Spraoi is an insurance technology solutions provider combining Big 4 Insurance consulting experience with Silicon Valley technology acumen and offshore scale. We focus on assisting carrier clients with the two most pressing needs confronting them today: how to leverage their data to optimize outcomes using our patent pending platform and how to better engage customers throughout the lifecycle using our customer engagement infrastructure. Beyond our solutions, we have created an innovation framework that provides accountability from concept through execution, eliminating technology as the impediment to progress. Visit us at Spraoi.ai.

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Samantha Chow Joins EIS as Life, Annuities and Health Markets Lead

EIS Group, a core and digital platform provider for insurers, is pleased to announce the appointment of Samantha Chow as life, annuities and health markets lead. In this role, she will lead the go-to-market strategy that propels EIS’ expansion in markets experiencing a high degree of disruption and seeking to accelerate digital transformation. Chow most recently served as a senior analyst for Aite Group. Since 2015, she has covered insurtech, business, and regulatory trends in the life insurance and annuity industry for Aite Group and authored original research and reports with insights and guidance to these markets.

“Finding the right LAH markets leader has been a top priority of mine,” said Anthony Grosso, head of marketing at EIS. “Samantha brings a unique combination of experience as an innovation and transformation leader within insurers and as an authority and sought-after counselor to the market. EIS has always been a pioneer in identifying disruption and bringing technology solutions to bear, most recently in the voluntary and group benefits market. As a result, we are thrilled to have Samantha join us and lead our response to the disruption in the life insurance markets.”

“After spending the last five years as an analyst for the life and annuity industry, I had the great pleasure of watching EIS and evaluating its solution in the industry,” said Samantha Chow. “EIS was a catalyst to the voluntary benefits market, seeing the problems the industry was facing, and bringing a solution to help this industry innovate. I have, with objective eyes, evaluated EIS strengths and weaknesses and placed them in the best-in-class category for core system vendors. I am excited to be a part of the team that brings this same innovation to life and annuity industry, allowing the industry to innovate without the system boundaries they have today.”

Before joining Aite Group, Chow served as corporate vice president of business productivity and innovation at New York Life, where she was responsible for building and growing an enterprise-wide capability for facilitating transformational and cultural insurance change. Prior to this role, Ms. Chow led the research department at New York Life, where she was charged with providing research and recommendations for business strategies, new products, pricing analysis/strategies, and competitive intelligence. She also worked at the American Family Life Assurance Company in multiple research capacities.

Chow holds a B.S. in Marketing and Statistics and a Master’s in International Business. She is certified in change management and the Klapper Institute problem-solving methodology.

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The partnership comes at a time in the insurance industry when adaptive, orchestrated technology eco-systems are becoming more critical, pushing insurers to assess the urgent need for an agile platform, which offers flexibility driven by both the cloud and open APIs.

What’s more, the pandemic has highlighted the fact that insurers can no longer wait to begin transformation initiatives. A recent EIS survey found that 71% of respondents have accelerated initiatives to digitise operations and customer experience as a result of the pandemic. With only 4% of digital initiatives postponed. As the industry looks to create its new normal, insurers will have to look for new ways to adopt new business models and capabilities to support its customers. Doing this on existing on-premise infrastructure, however, will cost both time and much needed financial resources and make it difficult for insurers to compete against more nimble Insurtech upstarts.

“We’re excited to announce our partnership with EPAM in the UK”, said, Olivier Vaysse, Head of EMEA for EIS Group. “EPAM’s wealth of experience in engineering and software implementation and services will be of high value and quality to our mutual customers. This stands alongside exceptional digital design and delivery competencies that will be critical as insurance companies try to adapt to the changing needs of the consumer who is looking for more personalised offers and experiences.”

The collaboration between the two companies will allow insurers to overcome these challenges while allowing them to grow their business for the customer of tomorrow. EIS’ cloud-native coretech platform, for example, uses open APIs to rapidly create and deploy new and innovative products and services. EPAM’s world-class engineering pedigree, proven delivery and implementation methodology and in-depth industry knowledge will allow insurers to respond to the changing demands of the modern customer in an innovative and agile way.

“The insurance sector is currently facing disruption from many angles—changing consumer needs, inflexible legacy IT infrastructures, increasing competition by Insurtech and an evolving regulatory landscape. To ensure they thrive, insurance companies across the UK must continue to evolve their business,” said Balazs Fejes, Co-Head of Global Business at EPAM.  “For this reason, we’re excited to partner with EIS Group in delivering digital solutions to help insurers bring new services and products to market quickly, without introducing additional risk, and allow them to stand out from the competition. We look forward to working with them both now and in the future.”

About EPAM

Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has leveraged its software engineering expertise to become a leading global product development, digital platform engineering, and top digital and product design agency. Through its ‘Engineering DNA’ and innovative strategy, consulting, and design capabilities, EPAM works in collaboration with its customers to deliver next-gen solutions that turn complex business challenges into real business outcomes. EPAM’s global teams serve customers in over 25 countries across North America, Europe, Asia and Australia. EPAM is a recognized market leader in multiple categories among top global independent research agencies and was one of only four technology companies to appear on Forbes 25 Fastest Growing Public Tech Companies list every year of publication since 2013.

Learn more at www.epam.com and follow us on Twitter @EPAMSYSTEMS and LinkedIn.

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Dr. Mark Boxer

EIS, a global provider of digital insurance platforms and core systems, today announced the appointment of insurance C-suite veteran Dr. Mark Boxer to the board of directors. Boxer is an internationally recognized innovator and technologist with more than twenty-five years of experience in healthcare technology, analytics, and digital leadership. He also is considered an expert in behavioral economics and using IoT devices to improve health and wellness.

Boxer previously served as executive vice president, and global chief information and digital officer for Cigna, one of the largest global health-services companies. He also has held senior executive positions for Anthem; Xerox; and HP, where he began his career.

Boxer currently is a director with property & casualty insurer Grange Insurance, where he chairs the governance committee. In addition, he has served as an independent director for Aprimo, provider of CRM software, FinishMaster, distributor of automotive parts and industrial paints, and Audax Health, a digital engagement company. He served on the board of Cigna Ventures, a venture capital fund that works closely with health care entrepreneurs, and as an advisor to private equity firms Parthenon Capital and Health Enterprise Partners, which invest in healthcare services and information technology companies.

“We are delighted to have Mark join our board of directors,” said Alec Miloslavsky, EIS’ chief executive officer, “Mark brings a wealth of insight, experience, and knowledge from his decades of executive leadership in insurance to EIS. His strategic guidance and commitment to industry innovation will be a tremendous help as EIS grows its coretech platform and expands its footprint in global markets.”

Boxer earned doctorates in health administration from the Medical University of South Carolina, and global public health from Arizona Health Sciences. He also holds master’s degrees in information systems and finance, as well as bachelor’s degrees in physics and engineering.

“The insurance industry is under unprecedented pressure to embrace digital transformation and the ecosystem distribution model, and no other insurance technology provider is as well-positioned to support those changes as EIS,” Boxer said. “EIS is recognized as a Visionary in Gartner’s Magic Quadrant for P&C core platforms as well as Life insurance policy administration systems, and the company is well-positioned to help insurers in all lines of business to innovate and thrive. I’m honored by the opportunity to contribute to EIS’s success.”

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“For the insurance company of the future, providing the right cover and good service to policyholders are table stakes,” says Tony Grosso, Head of Marketing at EIS, “The real winners will be those who can move beyond protection and operate in an ecosystem of value with other, non-insurance providers.”

In fact, a recent EIS poll of UK insurance providers and insurtechs showed that 1 in 3 respondents identified “moving beyond protection to deliver more value to customers” as the most important objective for the insurer of the future.

In response to the wave of innovation in the UK insurance sector, 75% of insurers are leaving legacy technology behind in favour of more dynamic and flexible ‘as a service’ models. EIS aims to help UK carriers with the introduction of its coretech platform, which, unlike modern legacy technology, allows insurers to rapidly create and deploy new and innovative products and services via open APIs. This new, flexible platform allows insurance companies to operate seamlessly with insurtechs and other providers to deliver lifestyle solutions beyond protection to consumers.

With customers at the heart of the EIS platform, insurers globally can now take a personalised approach to their customer experience by recognising and engaging customers as a whole, across all their insurance needs, rather than individual policy numbers.

“The agility and flexibility of the platform will be invaluable to UK insurers as they look to adapt to and sync regulatory changes post-Brexit and the demands of the market,” says Tony. EIS is already helping forward-thinking insurance businesses in EMEA, North America and APAC.

“As we enter the UK market, we see a high demand for innovative approaches to insurance. More so than other markets,” said Olivier Vayesse, Senior Vice President, EMEA at EIS. “EIS has been resourceful in responding to this demand. One example is a local initiative where we are developing an intelligent digital ecosystem to enable insurers to take a more radical approach to transformation, offering a greenfield platform for transitioning away from legacy technology.”

“EIS is committed to expansion in the UK market, creating jobs and revenue opportunities, in conjunction with our partner program,” Olivier continued.

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“As voluntary benefits innovators, Reliance Standard is known for building affordable, easy-to-understand benefits programs delivered expertly,” said John Albanese, SVP and chief information officer, Reliance Standard. “Our selection of EIS Group allows us to continue that tradition and quickly adapt to broker and customer expectations and other market changes. EIS has a strong track record of rapid and successful implementation and a solution upon which we can build a voluntary benefits platform for future growth and efficiency. We gain the flexibility to quickly create new products and the agility of an open architecture and APIs to connect an ecosystem of partners and services, bringing a new level of risk protection and service to our customers.”

The EIS OneSuite of fully integrated solutions—PolicyCore®, BillingCore®, CustomerCore™, and EIS DXP™—will enable Reliance Standard to:

• Support customer journeys with a seamless, data-rich multi-channel experience;
• Quickly add new products to take advantage of market opportunities;
• Reduce the cost of operations by utilizing modern architecture; and
• Establish a digital ecosystem that supports business growth

“EIS Group is honored to be chosen to support Reliance Standard on this transformation initiative,” said Alec Miloslavsky, CEO and executive chairman of EIS Group. “The EIS Group team is inspired by Reliance Standard’s vision and leadership as a market innovator and look forward to working together to bring it to life.”

About Reliance Standard

Reliance Standard Life Insurance Company is a leader in absence and employee benefits solutions including financial protection, absence management and supplemental health, with a portfolio of insurance products that include disability, life, accident, critical illness, hospital indemnity, dental, vision, medical stop loss and limited benefit medical. Reliance Standard markets these solutions nationwide through independent brokers and agents to employers of all sizes. Rated A+ (Superior) by A.M. Best, Reliance Standard was founded in 1907 in Chicago, IL.

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“Today, insurance companies must evolve to also become technological players, because their customers want to benefit from a streamlined experience thanks to digital,” said Olivier Vaysse, vice president of sales for EIS Group in Europe. At the heart of the European revolution in the field of insurtech, the EIS Group platform allows insurance companies to innovate and operate as a technological enterprise: faster, simpler and more agile.

View the full press release in French.

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In recent years, insurers have struggled to adapt to the changing demands of consumers. Their ability to make the move from analogue to digital is being held back by their legacy estates that are slow to change, difficult to integrate, complex to draw insight from, and lack the agility to deliver innovative services. This is why 75% of insurers are now proactively taking steps to move legacy technology landscapes to more dynamic and flexible ‘as a service’ models.

The intelligent digital ecosystem will allow insurers to take a more radical approach to transformation, offering a greenfield platform for transitioning away from legacy technology.  This new ecosystem will serve as an accelerator asset that shows insurers that moving away from legacy is much quicker, cheaper and more sustainable than ever before.  It will demonstrate a fast and low-cost stand-up of core platform and architecture, the ability to leverage new partners and insurtech innovation in a plug and play model, and the ability to adopt more customer-centric business models such as episodic insurance.

The ecosystem will bring together a new technology collective to deliver data-driven solutions that understand insurance customer needs and meet their expectations. Solution providers will connect with EIS Group’s core insurance hub and leverage cloud-native technologies and open APIs to create speedy and scalable solutions for insurers. In addition, because it is architected as an open ecosystem, rather than as a pre-defined vendor marketplace, insurers can connect new partners without difficulty.

Insurers will be able to choose partners and solutions in the ecosystem to advance key initiatives, including:
Agility:

• Rapid release of modern technology solutions that are fully digital and cloud- and API-based
• Plug and play integration with a series of insurtechs
• Modular approach to IT, providing the ability to incrementally ‘rip and replace’ key components

Insight:

• Scalable platform to consume data and provide intelligent analytical capabilities
• Consolidated data hub that uses an industry standard data model

Differentiation:

• Quickly launch new customer-centric products, such as parametric or on-demand coverages
• Meaningful digital experiences built for connected customers
• Prepackaged data-driven risk mitigations to enable market differentiation

Tony Grosso, Head of Coretech Marketing at EIS, said: “The insurance sector is undergoing immense change as it tries to future proof itself from further disruption. The ecosystem will allow insurers using a greenfield approach to break into the platform economy and develop new products and value-added services, fit for the customer of tomorrow. What’s more, it will provide insurers with an opportunity to differentiate themselves from their competitors with a connected platform that allows them to understand the customers and their needs. The launch of the intelligent ecosystem initiative signifies a new milestone in our relationship with PwC. We are interested in speaking with insurtechs, solution providers and insurers interested in participating in this ecosystem initiative.” 

Glynn Austen-Brown, Insurtech Partner at PwC, said: “This new ecosystem will be an accelerator asset that provides insurers with an understanding of how they can achieve unrivaled agility, insight and differentiation in the market. The ecosystem will provide the insurer with the tools needed to deliver services of the future. We’re proud to be launching the ecosystem initiative alongside our long-standing partners at EIS Group who share our commitment to ecosystem insurance and innovative approaches to transformation. PwC already has a dedicated EIS Group delivery practice, which utilises more than 100 consultants to deploy and support EIS’ solutions across the globe. We look forward to growing this productive relationship.”

About PwC

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with over 276,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

© 2020 PwC. All rights reserved

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In the complex voluntary benefits landscape, brokers and their clients commonly work with multiple systems, fighting to integrate with carriers’ patchworked legacy systems. Whether it’s product sophistication, internal workflow monitoring, enrollment and third-party integration, or communications across multiple modules, carriers struggle to administer plans in a digitally unified way.

Wellfleet Workplace entered the voluntary market last year, on a mission to be the digitally enabled carrier of choice. Partnering with EIS Group helps drive this differentiation by jointly creating an open-architecture and cloud-based software system designed to support the full broker and customer lifecycle.

“We’re building a web-based customer-centric platform with a consistent, multi-channel experience,” said James Ocampo, Executive Vice President and head of Wellfleet’s Workplace division.

“At Wellfleet, we have no legacy systems: we’re building our API-driven platform from the ground up, enabling true data integration among apps to power customer-facing processes across multiple channels. Our platform will also improve data agility and operational efficiency, and enhance the overall customer experience—all while enabling the rapid introduction of new products to market,” said Ocampo.

EIS Group’s leadership is excited about the opportunity to build a cutting-edge software system that will satisfy Wellfleet Workplace’s customer-centric focus and give users a holistic software solution.

The software provider’s cloud-based platform supports broker and customer lifecycles from rating and quoting, policy issuance and administration, to billing and claims management. Multi-channel touchpoints are easily created and managed through EIS Group’s digital experience platform.

“Wellfleet and EIS Group are making an investment into the future of workplace benefits. If brokers are to keep pace with digital economy demands and engage their clients how they want to be engaged, they need something different,” said Tony Grosso, Head of Marketing at EIS Group. “A customer-first approach to solution design and an open architecture that easily connects to a rapidly changing ecosystem of products, services, exchanges, and other channels is critical. Our partnership with Wellfleet will push boundaries and raise expectations.”

PwC (PricewaterhouseCoopers) assisted Wellfleet in its technology strategy development and is also serving as its primary systems integration partner.

With many years’ experience as a leading student health insurance administrator, Wellfleet leaders understood the importance of creating a system free of the pain points found in limited-function legacy computer systems and challenging tech integrations.

“As a Berkshire Hathaway company, Wellfleet takes a long-term view,” said Drew DiGiorgio, Wellfleet President & CEO. “This investment is part of our strategy to diversify and customize our product offerings, while building a business division led by an experienced team of industry leaders. We’re excited to offer the market a customer-centric administration experience—from quote to bind to claim.”

About Wellfleet

Wellfleet is a Berkshire Hathaway company focused on delivering customer-centric insurance solutions through flexible product offerings and quality service. With an A++ financial strength rating from A.M. Best, Wellfleet’s goal is to protect people against risk throughout every stage of life — from grade school to college, the workplace and beyond.

The Wellfleet Workplace division delivers high-quality, customizable benefit solutions through a suite of voluntary products. Designed to complement core benefits plans, while providing employees with financial protection from the unexpected, Wellfleet Workplace products include Accident, Critical Illness and Short-Term Disability Income insurance. For more details, visit WellfleetWorkplace.com.

Wellfleet is the marketing name used to refer to the insurance and administrative operations of Wellfleet Insurance Company, Wellfleet New York Insurance Company, and Wellfleet Group, LLC. All insurance products are administered or managed by Wellfleet Group, LLC. Product availability is based upon business and/or regulatory approval and may differ among companies.

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• Enhanced user experience – 365 / 24×7 enrollment with a self-enrollment option and real-time integration of qualifying life events, new hires and terminations
• Flexible product support – Support for individual products that are optimized for claims automation and straight-thru processing
• Speed to market – Agile processes bring new capabilities to market quickly, and a headless API model makes those products easily available to ecosystem partners
• Improved operations – Real-time data sync provides more accurate billing, payments and policy communications, and business-configurable solutions reduce IT-only management

“EIS Group is excited by the transformation program this industry-leading insurer is undertaking to realize its vision for an innovative ecosystem supporting customers’ needs,” said Tony Grosso, SVP and head of marketing at EIS Group. “Becoming a next-gen digital insurer requires the new technologies and faster and more agile approaches that we have been pioneering in the market, and we look forward to a strong collaboration to bring this project to fruition.”

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The report explores some of the key trends within the core systems market for P&C carriers and discusses the ways that technology is evolving to address new market needs and challenges.

“With EIS Group’s concentration on digitizing core processes, customer experience, and innovation, we are helping insurers of all kinds to step outside the constraints of legacy systems, processes, and thinking,” said Tony Grosso, Global Head of Marketing, EIS Group. “We’re proud that Aite Group and our customers have recognized our efforts to provide the future-focused core solution for P&C as well as life and benefits insurers.”

In addition to faring extremely well against much larger and publicly-traded competitors in the overall scoring of Aite’s AIM Components, including Vendor Stability, Client Strength, Client Service, and Product Features, EIS Group scored a 96% and was tied for the top score for Vendor Stability. EIS Group also was ranked second for Client Service, based on customer feedback.

“As the P&C insurance world becomes more digital and as core system platform users—agents, policyholders, and internal employees—demand greater ease of use, vendors are under a good deal of pressure to deliver on both for their carrier clients,” said Jay Sarzen, senior analyst with Aite Group’s P&C Insurance practice. “EIS Group has answered that challenge by building a platform that enables a digital experience for its carrier clients and provides an intuitive user experience for carriers’ key stakeholders. These elements were major reasons why EIS Group was named a Best-in-Class vendor for 2019.”

The Aite Impact Report evaluated the overall competitive position of 16 vendors, focusing on vendor stability, client strength, product features, and client services.

For more information, view the market analysis and full EIS Group excerpt from the Aite Group report.

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After an extensive plan was developed, the new platform was rolled out in less than eighteen months. It enables Tower to offer consumers digitally-enabled personal and commercial motor, home and content products within a simplified and convenient customer journey. The cloud-based platform replaces numerous legacy systems and supports quoting, policy administration, billing, claims, and customer management and engagement processes to provide Tower’s customers with a fast, seamless sales and service experience.

Tower CEO, Richard Harding, says that Tower believes people deserve better from their insurance company and took the time to understand our customers and how they wanted the future of insurance to be.

“We used the information and feedback our customers gave us to develop a blueprint that laid out the way forward and the type of technology we needed to bring this to life,” said Harding.

“We worked with EIS Group to make this a reality in a very short period of time, and we are now able to proactively engage with customers and provide easy to understand policies that give customers clarity and confidence about what they are covered for. We are creating a unique and empowering self-service experience that challenges current industry norms,” said Harding.

In total, Tower deployed EIS OneSuite™ components PolicyCore®, BillingCore®, ClaimCore®, and CustomerCore™ and EIS DXP™ on Microsoft Azure as the foundation of the new business platform.

“Matching Tower’s aspiration to bring a next-gen experience to insurance consumers and to do it with unparalleled speed to market has been a very gratifying experience for us,” said Alec Miloslavsky, chief executive officer of EIS Group. “We look forward to continuing to support Tower’s ambition to keep innovating and creating the future of insurance.”

A key enabler of the transformation is the API gateway and persona-based digital app capabilities in EIS DXP, EIS Group’s digital experience platform. Tower leveraged DXP to expose core business functionality and create apps that allow users to quickly gain a quote, access policy information, make policy and billing changes, file a claim, and other tasks.

Tower chief operating officer, Peter Muggleston, said that putting a customer-centered digital platform with state-of-the-art architecture in place was a large undertaking.

“Collaboration between the Tower and EIS Group teams and an effective Agile process leveraged the resources and scalability of the cloud, which was critical to on-time delivery,” said Muggleston at Tower.

“Now the platform is in place, we have digitally-enabled products on sale and the migration of existing policies has begun, which will result in improved outcomes for customers, increased efficiency and will allow us to take advantage of market opportunities,” said Muggleston.

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According to the report, EIS Group achieved the following scores:

• Highest in New Product Development/Launch Use Case, scoring 3.89 (out of 5)
• Highest in Policy/Contract Change Use Case, scoring 3.86 (out of 5)
• Second Highest in Digital User Support Use Case, scoring 3.74 (out of 5)
• Third Highest in Group/Worksite Enrollment, Claims and Billing Use Case, scoring 4.37 (out of 5)

“To compete effectively, life insurers need a new level of agility that gives them quicker time to market for products and a vastly improved digital experience that compares favorably with what consumers experience elsewhere they shop,” said Rowshi Pejooh, senior vice president, product management, EIS Group. “That’s why we believe a PAS solution choice is so critical. EIS Group has invested in building and maintaining a world-class product development and management capability that can be delivered with industry-leading speed to market. It also supports a deeper level of customer engagement via the industry’s largest library of open APIs. We believe our two highest use case scores in Gartner’s Critical Capabilities for Life Insurance Policy Administration Systems, North America report are a testament to how well EIS Group’s platform enables insurers to adapt to change and drive growth.”

In the report, Gartner states: “Life insurance CIOs need to assess that their policy administration system (PAS) has technical and architectural characteristics that support adaptability and change. Fifty-nine percent of client references surveyed in 2019 for the Magic Quadrant for Life Insurance Policy Administration Systems, North America tagged inflexible legacy systems as a reason for initiating a PAS replacement. They also indicated that the ability to support changing business conditions and improved business outcomes, such as better operational efficiencies as well as improved time to market, were key drivers for replacing a PAS.”

Gartner notes that CIOs should be striving for PAS that “Support and continually improve integration with an API framework to interact with customer engagement hubs and ecosystem partners dynamically, including an API workbench that facilitates configuration, customization, testing and deployment of APIs.”

EIS Group’s recognition in Gartner’s Critical Capabilities for Life Insurance Policy Administration Systems, North America report follows publication of Gartner’s companion report Magic Quadrant for Insurance Life Policy Administration Systems, North America.² EIS Group was named a Visionary in the latter report assessing vendor ability to execute and completeness of vision.

¹ Gartner, Inc., Critical Capabilities for Life Insurance Policy Administration Systems, North America, Richard Natale, September 9, 2019.
² Gartner, Inc., Magic Quadrant for Insurance Life Policy Administration Systems, North America, Richard Natale, August 5, 2019.

Disclaimer
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

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Principal^® is leveraging technology to modernize the disability insurance customer experience. The partnership with EIS Group will provide a simplified process for consumers and business owners to protect their income, as well as service their ongoing and changing needs. It also brings new technology, such as API-based capabilities, that will ultimately enable straight-through underwriting and enhance the digital experience. This customer-centric approach benefits consumers by reducing the time from application to activation for a disability insurance policy.

One in four of today’s 20-year-olds will become disabled before they retire[1]. However, only 20% of households in the U.S. have disability insurance[2]. Disability insurance can play a key role in an overall risk protection plan.

“The technology from EIS Group is a game-changer because it lays the groundwork for so many future enhancements that will benefit customers,” said Paul Fromm, vice president of individual disability insurance at Principal^®. “By simplifying the process, we improve the customer experience – saving customers valuable time and making it easier to purchase and service disability insurance. There are many working Americans who have not purchased income protection. We have a great opportunity to provide education and help them get the valuable protection they need for their income in case they become too sick or hurt to work.”

“We are proud to partner with Principal to provide individual disability products on the EIS Group platform,” said Alec Miloslavsky, CEO of EIS Group. “We admire the organization’s commitment to customer-focused digital transformation and look forward to provide the platform that enables continuous evolution and growth in the years ahead.”

Principal^® is a top-five individual disability insurance provider with more than $500 million in revenue, representing 11% of U.S. individual disability revenue². In addition to helping individuals, Principal is the only carrier with complete solutions to meet employers, employees and business owners’ disability insurance needs[3]. The disability insurance business has grown 8% over the past five years, compared to the industry average of 1.7% during this period[4].

“This investment in technology and partnership with EIS Group, is a tangible signal of our commitment to our consumers,” added Fromm. “By simplifying the process for consumers, we are helping working Americans and their families protect their financial futures and their retirement savings so they can continue to save enough to meet their retirement goals.”

The post New technology takes Principal disability insurance into the future appeared first on EIS.

The workshop will help attendees understand the relationship between insurtech opportunities and coretech solutions and how to incorporate both into their innovation strategies. Panelists provide perspectives from all participants in the innovation ecosystem: Tony Grosso from EIS Group representing coretech, Robert Wentling of USAA representing carriers, Janet Anderson from Lapetus and Karan Mishra of Spraoi representing insurtech, and Dina Belyayeva from InsurTech Hartford representing insurtech accelerators.

“To be competitive in the industry today, insurers must be innovative and future-focused. However, many insurers are struggling to leverage valuable insurtech opportunities because their legacy technology is far too rigid to support it,” says Grosso. “By merging insurtech and coretech, insurers can deploy a test-and-learn approach – quickly and easily evaluating how innovative new capabilities fit their business models.”

The workshop will demonstrate how one carrier integrated ML-enabled facial analytics to upend their underwriting – in just three days. Panelists will also host roundtables and take questions from the audience.

Attendees are encouraged to RSVP for the workshop now to reserve a seat.

InsureTech Connect is one of the largest insurtech events in the world – bringing together insurance carriers, tech entrepreneurs, and investors from all over the globe. EIS Group is proud to be a presenter, sponsor, and exhibitor.

The post What Happens when Insurtech Meets Coretech? EIS Group panel to explore at InsureTech Connect 2019 appeared first on EIS.

EIS OneSuite™ is a cloud-based platform for insurance carriers that provides core, data and digital capabilities across multiple lines of business, including life, worksite and individual benefits, and property and casualty.

“Scalable core systems that support continuous change are critical to a stable and adaptable digital business technology platform,” wrote Richard Natale, senior director analyst, Insurance, Gartner and author of this report. “Life insurance CIOs will find it essential to lay the groundwork for the iterative evolution of their digital business technology roadmap by modernizing their core systems.”

“Helping insurers position themselves for success in a world of evolving consumer needs, markets and channels is the driving force behind EIS Group,” said Adam Denninger, senior vice president of strategy at EIS Group. “To us, recognition as a Visionary confirms our direction and belief that only a cloud-based, unified enterprise platform of core and digital solutions will support insurer success in the digital economy. In our view, we meet that need and are gaining market momentum with EIS OneSuite for life insurance, a platform that supports new business models — for both direct to consumer and intermediary business — and allows insurers to operate seamlessly in existing markets and emerging B2C and B2B ecosystems.”

EIS Group has led the industry trend toward adoption of enterprise platforms with integrated digital experience, data, and core applications. Among them, EIS DXP^™, a digital experience framework, leverages an end-to-end series of core APIs to deliver consumer-grade, persona-based user experiences. EIS Group is also recognized as a leader in incorporating emerging technologies, such as chatbots, AI and ML, in customer interactions and other business operations. Additionally, clients benefit from EIS Group’s well-developed Agile, continuous integration/continuous delivery approach to gain industry-leading time-to-market for new business capabilities.

* Gartner, Inc. “Magic Quadrant for Life Insurance Policy Administration Systems, North America” August 5, 2019.

Gartner Disclaimer
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

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Screenshot of the Billing Agent App

The addition of the Billing Agent application accelerates insurers’ digital transformations by accessing the complete billing lifecycle capabilities within EIS Group’s BillingCore® solution and making them available as the persona-driven, context-aware, omnichannel user experiences required in the new era of digital insurance.

“Enabling business users to carry out tasks quickly and accurately–whether that be a customer search, review of policy and payment history, or change of payment methods–is satisfying to both customers and staff and promotes an uptick in NPS scores at the same time that it increases efficiency,” said Rita Iorfida, vice president of product strategy, EIS Group. “With Billing Agent, we have packaged a large subset of the rules, data, and transactions within BillingCore to help drive insurers’ digital billing transformations and meet the needs of all users.”

Key business benefits of Billing Agent include:

• Access to all functionality and business rules within BillingCore via API calls ensures that insurers do not lose any capability as they move it from their core layer to a digital experience layer;
• Simple and rapid implementation of billing user experiences via portal, mobile or web apps that are persona-based and consistent across all channels;
• Flexible and easy creation of discrete views of billing operations–such as premium refunds, payments, billing adjustments–based on business user needs that adopt the same roles and privileges as the base BillingCore product;
• Access to the industry’s most complete library of core billing system APIs; and
• Support for core transformation strategies by enabling integration with EIS Group’s PolicyCore, third-party policy administration systems, both or several in parallel.

Billing Agent is the latest in a series of digital experience apps for users – including agents, consumers, customers, and claims adjusters – available within EIS DXP^TM, EIS Group’s digital experience platform. These omnichannel, persona-based apps use DXP Web Components to quickly create custom user experiences and leverage API management tools within EIS DXP. DXP makes any BillingCore capability available within any user experience as needed. In total, DXP makes available an industry-leading tally of 1,100 REST APIs–for packaging as portal, mobile, and web apps–that expose the full lifecycle of insurance functionality in EIS OneSuite^TM which comprises BillingCore along with PolicyCore®, ClaimCore®, and CustomerCore^TM.

The post EIS Group’s New Billing Agent App Delivers Digital Experience Capabilities to Business Users appeared first on EIS.

The availability of over 1,100 REST APIs to app developers makes it easier for insurers to create secure, persona-based digital experiences to all participants in rapidly growing B2C and B2B insurance ecosystems.   The APIs can be combined within EIS DXP to create apps for any part of the unique journey of any ecosystem participant, from consumer, customer, agent and broker to claims adjuster, CSR, risk inspector, underwriter and more.  Multiple pre-built web and mobile apps are already available in EIS DXP for re-use and adaption to specific insurer needs.

“Establishing a digital layer as an environment for innovation and connectivity is key capability within every insurer’s strategy,” said Karen Furtado, partner at Strategy Meets Action. “EIS Group’s commitment to exposing core services and transforming them as an extensive library of open APIs that can be consumed to create new experiences, products and channels is an advantage for insurer’s focused on the next generation of insurance customers.”

This industry-leading API portfolio can be designed into digital apps within EIS DXP that:

• Call out to any EIS OneSuite™ (or third-party core application) to access any core process and microservice from acquisition to underwriting, policy admin, billing, payments, claims and customer management.
• Embody product-specific logic and data across personal, commercial, life, benefits and health lines of business.
• Capture persona-based and device and channel specific preferences to create optimal user experiences with higher rates of user engagement and satisfaction.
• Are flexible and re-usable to lower the cost of digital experience delivery and accelerate digital transformation.

In addition, these 1,100 open APIs can be combined with ecosystem partner APIs to create new apps that extend journey capabilities or create entirely new experiences and touchpoints. The API library is fully consumable by mobile, web, wearable, and IoT solutions to support the packaging of insurance products and services for digital ecosystem distribution.

“The release of the industry’s largest open core API library is another big step forward for EIS Group as we lay the path for digital transformation for insurers,” said Fazi Zand, senior vice president, Products, EIS Group.  “EIS OneSuite is now fully available to customers and partners via open APIs in EIS DXP where new digital journeys and products can be built to support new business models and true market differentiation.”

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The report explores how well PAS vendors can deliver on policyholder expectations and process efficiency by integrating external data and leveraging APIs to enhance core operational functions, such as underwriting and claim processing, and improve customers’ digital experiences. The report evaluates the overall competitive position of each PAS vendor, focusing on vendor stability, client strength, product features, and client services.
EIS Group emerged as the leader in the best-in-class category and achieved the highest score in vendor stability, where Aite Group cited EIS Group’s financial strength, high growth rate, substantial investment into R&D, and perfect 5.0 score on client references. EIS Group was also rated as a best-in-class offering in product features.

“EIS Group, a young vendor in comparison to the players in this industry, came out strong in this forward-looking comparison of life insurance policy administration vendors, which focuses on integration, API development, micro-services, and the ability to integrate and use external third-party data. EIS Group is clearly prepared to support the advancement of the life insurance industry with digital transformation, integration of external third-party data throughout the policy lifecycle, the development of the best insurance ecosystem, and a roadmap to becoming 100% micro-services based,” said Samantha Chow, senior analyst at Aite Group and author of the report.

Some capabilities highlighted by Aite Group are:

• Over 10,000 APIs are built into the technology, and any PAS functionality is available through API
• Advanced workflow tools can integrate data that triggers additional rules-based workflow, including decision-making or recommendations.
• EIS DXP™ (digital experience platform) integrates with chatbots and enables social media feeds on a policy-by-policy basis
• A persona-based API platform that provides a bridge from legacy to new systems, allowing parallel operation during integrations

“As insurance B2B and B2C ecosystems grow, open solutions that are data friendly and able to leverage data broadly in core operations are essential,” said Rowshi Pejooh, executive vice president, Product Management, EIS Group. “We are proud that Aite Group has recognized our efforts to provide the future-focused PAS solution for life and benefits insurers.”

For more information, view the full EIS Group excerpt from the Aite Group report at bit.ly/New-Aite-Report.

EIS Group ranked “Best-in-Class” in Aite Group’s life insurance PAS AIM

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The report, AIM Evaluation: PAS Vendors’ External Third-Party Data Integration Capabilities, evaluates the overall competitive position of each PAS vendor, focusing on vendor stability, client strength, product features, and client services.

According to Aite, EIS Group emerged as the leader in the product features category with the highest score recorded in any of the four categories by demonstrating the ability to integrate external third-party data (ETPD), offer open APIs, and wrap that all into the traditional PAS construct.

“EIS has built out an extremely data-focused platform that can accommodate a wide range of carriers’ data needs. There are no real limitations with this platform with regard to ETPD importation and integration, as customization is not needed to incorporate any data element into any core process. Furthermore, EIS’ determination to bring forth a robust AI/ML offering speaks volumes about its dedication to ensuring that its clients are able to work with and gain meaningful insights from ETPD,” says Jay Sarzen, senior analyst at Aite Group and author of the report.

The Aite report details major drivers for expanded data integration and their significant benefits as increased process accuracy; development of more holistic policyholder/applicant views; increased staff productivity; expedited operational processes; and, promotion of growth by underwriting new industries and risks. In addition to the product feature category, EIS Group was also rated as a best-in-class offering in client service and vendor stability.

Aite noted that third-party data integration is supported for EIS OneSuite’s rating engine, document generation, billing, CRM, reinsurance, and claims.  The solution can also automatically route workflow based upon imported ETPD, and both business stakeholders and IT staff are able to adjust workflow and rules based upon imported ETPD if needed. Microservices are supported with a one-per-integration approach as well as a platform/hub approach.

The post Aite Group Gives EIS OneSuite Top Marks for Insurance Data Integration Capabilities appeared first on EIS.

The report recognizes EIS Group for “completeness of vision” and “ability to execute.” In the report, Gartner defines Visionaries as vendors offering “strong core system functionality and broader platform capabilities, and have demonstrated a flair for innovation. Their level of execution is lower due to factors such as fewer customer wins and more limited production experience in certain segments, but they demonstrate vision and potential.”

“Helping insurers position themselves for success in a world of changing consumer needs, markets, and channels is the driving force behind EIS Group,” says Alec Miloslavsky, chief executive officer of EIS Group. “We believe our positioning as a Visionary is a confirmation of the belief that only a cloud-based, fully digital, unified enterprise platform of core and digital solutions will support insurer success in the digital economy.  We meet that need with a digital insurance platform that supports new business models to allow insurers to operate seamlessly in existing markets and emerging B2C and B2B ecosystems.”

EIS Group has led the industry trend toward adoption of enterprise platforms with integrated digital experience, data and core applications. Among them, EIS DXP^TM, a digital experience framework, leverages an end-to-end series of core APIs to deliver consumer-grade, persona-based user experiences. EIS Group is also recognized as a leader in incorporating emerging technologies, such as chatbots, AI and ML, in customer interactions and other business operations.  In addition, clients benefit from EIS Group’s well-developed Agile, continuous integration/continuous delivery approach to gain industry-leading time-to-market for new business capabilities.

Gartner Disclaimer
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
* Gartner, Inc. “Magic Quadrant for P&C Core Platforms, North America” October 9, 2018.

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ENGAGE 2019 is EIS Group’s annual user conference drawing attendees from across the company’s growing customer and partner community and related industry participants.  Designed to help community members maximize the value and impact of their investment in EIS Group solutions, it provides attendees opportunities to learn about the latest solution capabilities, share best practices and case studies, discuss industry trends and network with industry peers in P&C and worksite and individual benefits lines of business.

“We are excited to be introducing ENGAGE as our premier annual event and to welcome our global customers and partners to a uniquely valuable experience,” said Alec Miloslavsky, EIS Group’s CEO.  “With so much innovation and transformation shaping the industry, and EIS Group’s constant advance of capabilities to support and facilitate it, ENGAGE is the ideal forum for our active community to learn, share and collaborate.”

The conference will offer keynote and general sessions with thought leadership addressing insurance industry disruption and opportunity and new technology—from AI and ML to serverless cloud and microservices—organized in educational tracks tailored to attendees with a business or IT focus. Included will be sessions covering new developments in EIS Group’s digital experience solutions and next-gen insurance platform and their support for existing and emerging B2B and B2C markets and ecosystems.

“ENGAGE aims to provide insights and know-how for our customers to interact with their customers in a way that provides better service and with the digital experience they prefer,” said EIS Group’s EVP and CMO Glenn Lim. “We believe technology innovation will enable insurers to capture the opportunities created by ever-changing market conditions and at a pace consumers demand.”

Business and IT leaders from customers, analysts, partners and prospects considering EIS Group solutions are expected to attend ENGAGE. For details visit eisgroup.com.

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The new platform was developed in less than twelve months and enables Guardian to offer consumers dental PPO and HMO, critical illness, and accident products within a simplified and convenient customer journey.  The cloud-based platform supports quoting, enrollment, policy administration, billing, claims, and customer management and engagement processes to provide Guardian’s customers with a fast, seamless digital experience.

“We were able to introduce a consumer-friendly product platform on a remarkably short timeline. This project was unique in its large scale, and a critical accelerator was an effective Agile process managed by EIS Group that leveraged the rapid provisioning and scalable qualities of the cloud,” said John Furlong, Platform CIO at Guardian. “EIS Group software and solution delivery, and their commitment to our goal were key to delivering the totally digital platform with state-of-the-art architecture that we wanted for our customers.”

To deliver a tailored policyholder experience for a new generation of consumers, Guardian leveraged the API gateway and persona-based digital app capabilities in EIS DXP™, EIS Group’s digital experience platform, to build a new member portal. Consumers can quickly access policy information, make billing changes or file a claim in the self-service portal.

Guardian deployed EIS OneSuite components PolicyCore®, BillingCore®, ClaimCore®, and CustomerCore™ and EIS DXP as the foundation of the new business platform.

“This has been an exciting project for EIS Group because of the breadth of core and digital capabilities deployed and the speed with which it progressed,” said Alec Miloslavsky, chief executive officer of EIS Group.  “We are fully committed to supporting Guardian’s market success with flexible, customer-focused solutions that can deliver a differentiating digital experience.”

The post EIS Group’s Digital Insurance Platform Deployed for Guardian’s Direct to Consumer Business appeared first on EIS.

The workshop is designed to help attendees understand and leverage cloud-based machine learning (ML) and artificial intelligence (AI) to mine customer data and improve insurance customer experience and loyalty. Featuring AI and ML solutions from AWS and EIS Group, the workshop will be led by EIS Group’s Fazi Zand, senior vice president of products.

“You cannot afford to forego the substantial value hidden in your data. Advanced analytics using machine learning help discover insights in patterns, trends, business rules and correlations that can be operationalized in insurance product development, marketing, sales, and service,” says Zand.

The workshop will profile multiple use cases to help attendees understand how the technology identifies patterns in customer transactions and interactions, detects potential customer churn, and recommends mitigation strategies. Further, the workshop will include discussion on the strategies, challenges, and the process involved in building out predictive solutions.

Attendees should RSVP for the workshop as soon as possible to reserve their seat.

InsureTech Connect is one of the fastest growing digital insurance conferences. Attendees include insurance carriers, tech entrepreneurs, and investors from around the world.  EIS Group is proud to be a presenter, sponsor, and exhibitor at this year’s event.

The post EIS Group to Present InsureTech Connect 2018 Workshop on How Machine Learning and AI Reduce Customer Churn appeared first on EIS.

In addition, EIS Group’s Fazi Zand, senior vice president of product, will speak on the panel session, Can Artificial Intelligence Augment Customer Experience While Preserving the Human Touch?, on Wednesday, September 26th at 3:05 pm.

“Insurance companies are faced with stiff competition from inside and outside their sector with digital and IoT solutions eroding traditional barriers to entry while expanding opportunities,” says Fazi Zand. “On this panel, we’ll refer to our client’s experience with the EIS DXP™ digital experience platform, which enables differentiating insurance lifecycle experiences for their customers. The platform infuses digital applications and omnichannel user interactions, with insights driven by embedded analytics and AI/ML for enhanced customer experience.”

EIS Group will have its own insurtech experts available at our exhibit table to answer questions about EIS Group’s expanding set of customer-centric digital capabilities featuring AI and chatbots.

The post EIS Group Announces Sponsorship and Participation at Internet of Insurance 2018 appeared first on EIS.

EIS Group’s platform will be used for creating new insurance products, quoting, customer self-service, billing, claims, and customer management and engagement. This will all be provided to Tower with a single, cloud-based platform supporting integrated, next-gen digital customer experiences. Four existing Tower systems will be replaced by the one platform.

“We’re on a mission to revolutionize the way customers interact with us and turn insurance industry norms upside down,” says Tower CEO, Richard Harding.

“This new platform will be a key enabler for our transformation and allow us to take advantage of all the opportunity that today’s digital world offers.

“We’re excited to partner with EIS to unify our core, data and digital operations, giving us more flexibility to innovate and improve our connection with, and value for our customers.

“EIS Group is a leader in their field and will deliver a system that leverages the full benefits of the cloud for security, scalability and rapid delivery. This is a future-proof investment that will drive our transformation,” said Harding.

Tower will deploy the EIS platform’s fully integrated core and digital applications, PolicyCore®, BillingCore®, and ClaimCore®, CustomerCore CEM™ and  DXP™ to gain end-to-end business capabilities that support digital enablement at every customer touchpoint.
EIS Group’s solutions will enable Tower to:

• Support customer journeys with a seamless omnichannel experience;
• Quickly add new products to take advantage of market opportunities;
• Leverage internal and external data for improved underwriting and pricing;
• Reduce the cost of operations by utilizing cloud-based modern architecture; and
• Establish an efficient, cost-effective platform.

“Microsoft is pleased to be able to help power Tower’s transformation initiative with an Azure cloud environment and services optimized for EIS Group’s insurance platform,” says Barrie Sheers, managing director, Microsoft New Zealand.

“We are honored to have been selected as the provider of a new business platform for Tower,” says Alec Miloslavsky, EIS Group’s chief executive officer. “The Tower leadership has a forward-thinking transformation agenda focused on bringing value to customers and we are excited by the opportunity to bring our best technology and expertise to the table.”

The post Tower Selects EIS Group’s Insurance Platform to Drive Transformation appeared first on EIS.

DGIG deployed PolicyCore® and BillingCore® modules as part of a large enterprise-wide transformation initiative enabling the company to respond to the demands of an evolving market and the insurer’s own growth strategies. It is the first phase of implementation of the EIS OneSuite solution as the new multi-line, omnichannel digital insurance platform for core underwriting, policy administration, billing, customer management and engagement processes in DGIG’s personal and commercial insurance operations.

DGIG rolled out the new solutions for its commercial property products – including property, liability and surety coverages – and business owner policy product sold via State Farm agents in Alberta, New Brunswick and Ontario and via Desjardins’ direct network in Quebec.

With the launch of the new platform for its commercial lines, DGIG is now able to provide a whole new level of automation, flexibility and consistent processes to support its agents and customers and drive operational efficiency.

DGIG is very pleased with the smooth execution of the roll-out and the new platform, itself. DGIG is looking for agility and speed to market for its commercial products within a multi-distribution network and now has a platform that allows it to quickly tailor a commercial offer to meet the specific needs of various types of businesses. This launch is an important first step in the company-wide roll-out of EIS OneSuite and in its partnership with EIS Group to facilitate digital transformation.

The EIS OneSuite solution enables DGIG to:

• Enhance the customer experience and provide better capability to adapt smoothly to their needs;
• Provide a 360 view of customer information, transaction history, and communications;
• Reduce significantly the time it takes to quote and issue a commercial policy, with straight-through processing for issuance of some policies;
• Configure a product once and leverage that configuration for all channels of distribution and digital engagement; and
• Reduce operational costs by automating processes using flexible tools to create workflow and business rules.

Through a comprehensive joint enablement strategy, DGIG was able to achieve self-sufficiency and led and managed the last roll-out for the province of Quebec.

“We congratulate Desjardins Insurance on its successful new technology platform launch to support its commercial lines of business,” said Alec Miloslavsky, chief executive officer of EIS Group. “We are very pleased to be able to support its business vision and goals with a modern platform of core and digital solutions that is serving as a foundation for its transformational journey.”

The post Desjardins General Insurance Group Deploys EIS OneSuite for Commercial Lines appeared first on EIS.

The latest release of ClaimCore extends its award-winning capabilities to help dental insurers to modernize and fully digitize their operations. ClaimCore is a complete dental claim system built on modern and configurable technology to support DHMO and PPO products in both group and individual markets.

ClaimCore for dental claims is deployed at one large, US-based benefits insurer and being evaluated by additional carriers.

ClaimCore is designed to accurately and quickly process dental claims by enabling no-touch auto-adjudication via a comprehensive set of business rules, by delivering high-quality digital experiences through simplified user interfaces and omnichannel engagement support, and leveraging its industry-leading integration capabilities to easily connect with policy and billing systems, provider networks and other data sources.
Using ClaimCore for dental claims provides insurers significant advantages, including:

• A single comprehensive claim solution – ClaimCore simplifies operations by introducing a single solution that replaces disparate technologies, including claims calculation, fee schedules, payment, workflow and document imaging solutions, to deliver accuracy and consistency to the dental claims process.
• A flexible and configurable rules engine – ClaimCore enables no-touch auto-adjudication to accurately compare claims against provider networks, patient history, and coverage parameters to increase auto adjudicated claims throughput while also monitoring and measuring rule use.
• Streamlined claim intake – Intuitive workflows and mouse-free navigation of claim intake for high-speed, high-volume keying of data improves the system user experience and productivity.
• Digital ready solution – ClaimCore is fully digital business enabled through an extensive API portfolio and is pre-integrated to the EIS® DXP™ digital experience platform for the delivery of omnichannel engagement that includes configurable mobile and online apps and portals.

ClaimCore can be deployed as a standalone core system or as a modular component of EIS Core Insurance OneSuite™, providing benefits insurers with additional options for transforming their legacy core systems. When deployed as part of the pre-integrated EIS OneSuite™—comprised of PolicyCore®, BillingCore®, ClaimCore and CustomerCore™— eligibility, coverages and customer information are immediately available to claims operations. In addition, the common database and data model in the EIS OneSuite platform provides a single source of truth with data entered one time and leveraged throughout the entire customer lifecycle.

“We are very pleased to offer this superior dental claim management solution option to address the process inefficiencies and eligibility issues that can negatively impact claims customer service and increase expense for insurers,” said Jim Eva, EIS Group’s product executive for claims. “We have applied the design flexibility and digital readiness of the EIS platform to create a solution that works seamlessly within the EIS OneSuite or as a standalone component to deliver better claims outcomes.”

The post New Release of EIS Group’s ClaimCore System Delivers Dental Claims Management appeared first on EIS.

The Aite report views claims as a primary focus as the US life insurance industry shifts its focus on customer-facing technologies and processes to include back-office operations. The new attention to claims is driven by the need to reduce operational cost and improve the beneficiary experience.  To evaluate vendor offerings, Aite focused on vendor stability, client strength, product features, and client services.

Award for Most Extensive Digital Capabilities
Aite recognized EIS Group for most extensive digital capabilities and described ClaimCore as ready for the future of life insurance claims and a more digital claims process driven not only by insurers’ need to reduce the cost to process claims but also by the demand for a more positive customer experience.
“EIS Group’s solution is fully digital: Capabilities are built at the platform level rather than at the component level,” states Chow.  “It offers more advanced mobile features, including keychain and autofill, camera and photo gallery for easy scanning and uploading of documents, audio recording for transmitting messages to the carrier, location recognition, optical character reading or barcode scanning, credit card scanning for easy payout, and bots for automation.”

Award for Most Comprehensive Integration
Aite also recognized EIS Group as best in class in the area of integration, which is key for life insurance carriers in North America, according to the report, as most have many different core systems across their technology ecosystems.
“EIS Group offers all of the necessary integration functions and features for a life insurance carrier,” says the report. “It stands out in its investment in and dedication to AI and chatbots to support the claims process. EIS Group’s claims solution, ClaimCore, comes pre-integrated with third-party tools that support both AI and chatbots.”

Award for Best Workflow Tool
EIS Group also received the top marks for the workflow management Aite believes carriers need to reduce operational cost and drive a more consistently operated claims department.

“EIS Group provides a more complete workflow solution as it relates to configuration,” says the report. “EIS Group offers workflow configuration that is supported by rules configuration, templates, and wizard-based tools. EIS Group also has strong client references as it relates to workflow, reporting complete satisfaction with workflow capabilities.”

“We deeply appreciate Aite’s recognition of our efforts to create a claims solution that will meet today’s needs and anticipate insurers’ future needs, while also providing a solution that can be a stepping stone to a fuller core system modernization,” says Rowshi Pejooh, executive vice president of product management, EIS Group.

The copy of Aite’s report Life Insurance Claims Vendors in North America: Evaluating Stand-Alone Systems featuring the full EIS Group profile is available for download.

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HiRoad has used the EIS insurance platform to introduce its innovative telematics-based auto product that rewards drivers every month based on driving behavior. With the ability to switch in just minutes and manage everything from an app, customers can save up to 50% every month based on how much and how well they drive.

“By creating a model that recognizes and rewards smarter choices, we’re helping our customers’ wallets while inspiring a better world,” says Steve Harris, Vice President at HiRoad. “We selected the EIS core platform to help enable our new smartphone-centric approach to insurance. EIS’s flexible platform supports our approach to reward mindful drivers, and allows us to innovate across the insurance experience to serve our customers better.”
HiRoad has deployed the EIS OneSuite™ components PolicyCore®, BillingCore® and ClaimCore® in conjunction with EIS® DXP™ as its platform for policy administration, product development, billing, claims and customer management. The platform can also support HiRoad’s introduction of additional insurance offerings in the future.
These key EIS OneSuite capabilities support HiRoad’s direct-to-customer business:

• Flexible policy, billing, and claims management that supports usage-based insurance.
• Flexible product configuration for rapid development and introduction.
• Support for data-driven underwriting and pricing that incentivize positive choices by customers for themselves and their community.
• Extensive set of policy, billing and claims APIs to support digital customer engagement.
• Platform architecture designed to enable fast integrations and scale to demand.

“HiRoad is in the vanguard of insurers designing insurance for the mobile-first customer. We are honored to have been chosen to support their exciting initiative,” says Alec Miloslavsky, CEO, EIS Group. “EIS Group shares HiRoad’s enthusiasm for creating innovative solutions that meet the evolving needs of a new era and we are looking forward to supporting their journey.”

About HiRoad

HiRoad is reinventing insurance to recognize and reward the good choices people make every day, so they can lower their bill and benefit those around them. We’re starting with car insurance, but we’re offering a different approach than a traditional policy. Using leading edge technology, we provide our customers real-time feedback on their driving so they can drive down their rate and help build a world where doing right pays off for everyone.

Established as a separate company in the State Farm® family of companies, HiRoad began selling policies in 2017 and is now available to all of Rhode Island.
For more about us, please visit HiRoad.com.

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Ludlow is a member of the board of directors of health and dental benefits insurer Green Shield Canada and biotech company Ortho Regenerative Technologies, and is an advisory board member at on-demand auto insurance start-up Autonomy Insurance. She previously served on the boards of the Insurance Bureau of Canada and the Canadian Life & Health Insurance Association.  Earlier in her career, Ludlow, along with co-founders launched Kanetix, Canada’s first on-line insurance marketplace for consumers.  Ludlow currently serves as the head of insurance investments strategy for OMERS, one of Canada’s largest defined benefit pension plans and is responsible for setting and executing the strategic plan with respect to OMERS insurance investments.

“We are delighted that Sharon has joined our board,” said EIS Group’s chief executive officer, Alec Miloslavsky. “Sharon brings deep insight, experience and knowledge to EIS Group through her years of executive leadership in insurance. Her strategic guidance and commitment to industry innovation will be a tremendous help as EIS Group grows its multi-line insurance platform and expands its footprint in global markets.”

“As new insurance business models emerge upon which insurers can create value in the new digital era, insurers need to look closely and critically at what enabling technologies and partnerships will support their growth,” says Ludlow. “EIS Group was recently recognized as a Visionary in Gartner’s Magic Quadrant for P&C Core Platforms and is well-positioned both strategically and technically to help insurers innovate and thrive and I am honored with the opportunity to contribute to EIS Group’s success.”

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Comtec provides strategic software solutions and services to the property and casualty insurance industry and serves the majority of insurers in Israel, for a total of sixteen clients in both Israel and Cyprus. Comtec will assist with localization and undertake the sales, implementation, and support of EIS Group software solutions to help insurers in the region to modernize their business platforms to drive new business and engage more effectively with their customers. EIS Group’s solutions support personal, commercial, accident and disability, and employee benefits lines of business of insurers worldwide.
“Our ability to offer EIS Group solutions within our markets creates unprecedented opportunities for insurers in the region,” says Nadav Milner, chief executive officer at Comtec. “Because the EIS platform is built leveraging advanced application design technologies and delivered using the latest continuous deployment approaches, insurers have unlimited potential to reshape their customer experience, improve operations, reduce risk, and accelerate the delivery of innovative products and services. I am excited by, and confident the offering will propel our clients into the next generation of insurance business.”
The EIS Group platform will enable Comtec to help clients:

• Achieve state-of-the-art digital enablement of their enterprises;
• Enhance their customer journeys with seamless digital, omnichannel experiences;
• Enable rapid development and deployment of new products to take advantage of market opportunities;
• Distribute products and services easily within traditional and new digital channels and consumer ecosystems;
• Establish an efficient, cost-effective insurance business platform.

“We are very pleased to have a partner that is so successful in this market and dedicated to providing solutions crafted to meet the unique needs of the market and its consumers,” says Alec Miloslavsky, chief executive officer at EIS Group. “We believe our digital insurance platform is perfectly suited to adoption in the region Comtec serves and it will help drive digital transformation in the market. This new regional expansion is the next step in EIS Group’s global growth and underscores both the flexibility and modernity of the EIS Group platform.”

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CSAA Insurance Group provides AAA-branded insurance for AAA-partner clubs in 23 states and the District of Columbia, and has deployed EIS OneSuite™ components EIS PolicyCore® and BillingCore® for all personal lines of business. EIS DXP is designed to deliver persona-based digital experiences within an omni-channel user environment. The addition of DXP enables CSAA Insurance Group to accelerate expansion of customer self-service capabilities to deliver consistent experiences on a lower cost platform. CSAA Insurance Group will leverage DXP to expand its web presence to customers.

“Our customers appreciate being able to engage easily with us when and how they choose,  and high-quality, self-service experiences are a key driver of customer loyalty and retention,” said Kim Bissell, director of policy administration services at CSAA Insurance Group. “CSAA Insurance Group’s selection of DXP aligns with our customer-focused transformation strategy and provides us the ability to leverage digital capabilities within the EIS OneSuite to provide a better, more consistent user experience at a lower cost of delivery.”

Tightly integrated with the core processing systems in the EIS OneSuite, DXP will enable CSAA Insurance Group to:

1. Empower customers with enhanced web self-service quote, buy, policy servicing, and inquiry capabilities;
2. Deliver consistent user experiences across engagement channels and the lifecycle of customer interactions;
3. Increase speed-to-market and reduce the cost of digital solution delivery; and
4. Deploy a lightweight web presence using modern technologies—such as Restful services and JSON language—that is easy to support and upgrade.

“We are very pleased to be able to provide CSAA Insurance Group with a digital solution that enhances customer engagement,” said Rowshi Pejooh, executive vice president of product management at EIS Group. “We admire how CSAA Insurance Group placed customer needs firmly at the center of its successful core systems modernization and are delighted to be able to help them bring further value to their customers.”

The post CSAA Insurance Group Selects EIS Group’s Digital Experience Platform appeared first on EIS.

Coleman is the founder and former chairman and CEO of ITM Software and served as chairman at Accelrys. Previously, he was executive vice president of global sales, service, and marketing for Silicon Graphics, Inc., vice president of product development at Activision, Inc., and held various management positions at Hewlett-Packard. Coleman sits on the board of several companies including Prevedere, Complia Health, and Entertainment Partners. He is a member of the advisory board of the Ohio State University Fisher Business School and also chairman of big data analytics company Saama Technologies.

“We are very pleased and excited that Ken has joined our board,” said chief executive officer at EIS Group, Alec Miloslavsky. “Ken brings a wealth of experience in enterprise technology business and has contributed to the growth and success of numerous companies. His strategic insight will materially contribute to our ongoing success and the execution of our vision.”

“This is a very exciting time for insurance transformation to new business models and products, cloud, and digital technologies and EIS Group is uniquely positioned to support insurers in this journey. I look forward to working with the executive team to grow the value of our strong brand,” said Coleman.

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“Enabling insurers to realize the promise of digital is a primary focus for EIS Group,” says Alec Miloslavsky, chief executive officer of EIS Group. “Positioned as a Visionary, our belief is that real transformation for insurers starts at the core and being digital is core to their businesses. We feel this placement reflects the demand we are experiencing for a platform that fully digitizes core processes and drives innovation and engagement to move carriers closer to their customers. It is a platform built to be easily implemented and upgraded to meet immediate needs and tomorrow’s expectations.”

EIS Group has a history of innovation and investment in advanced technology to continuously add value to its client community.  The EIS OneSuite^™ core platform is uniquely designed to support multiple lines of business and segments of insurance. Its modular policy, billing, claims and customer management core components share a common platform in support of a consistent and seamless user experience. EIS Group also pioneered the deployment of insurance core systems in the cloud and today its core platform is built for the cloud using entirely web-based technologies so clients can take full advantage of the velocity, agility, and cost efficiencies of a cloud-based delivery and operation model.

In the critical area of digital experience enablement, EIS Group leads the market. It has extended the EIS OneSuite core capabilities to mobile and web apps through DXP^™, a digital experience platform. By leveraging an end-to-end series of core APIs, offering an extensive set of out-of-the-box and configurable persona-based apps, and supporting emerging technologies such as chatbots and AI, DXP goes beyond what is offered by other vendors to unify core and digital insurance operations.

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
* Gartner, Inc. “Magic Quadrant for P&C Core Platforms, North America, North America,” September 28, 2017.

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EIS Group is pleased to sponsor the networking reception on Wednesday evening. In addition to the sponsorship, EIS Group technology experts will be available at booth 501 to walk visitors through an exciting preview of new customer-centric digital capabilities, including AI and chatbots, within EIS Group’s industry-leading digital insurance platform. Visitors can also schedule their own demos of the platform.

“InsureTech Connect sets a big stage for insurers to network and explore how new technology will impact their customers,” says Glenn Lim, executive vice president of marketing and alliances at EIS Group. “Insurers looking to prioritize their customers’ ease-of-use by providing a more human-like experience will have a chance to evaluate and sense the opportunity our new digital capabilities offer. We are constantly evolving our platform to keep ahead of change in the industry and help insurers deliver the utmost digital experience.”

ITC 2017 brings together over 3,000 high-level attendees from over 40 different countries. Over two days, 200 diverse speakers from the global insurance industry will deliver keynotes and news, participate in panels and fireside chats, and lead demos. Additionally, over 50 sessions will be led, covering a variety of topics from The Digital Insurer: Inevitable Changes Have Already Begun to Practical Application of AI and Machine Learning.

Additional Information:

• Find the ITC 2017 detailed agenda and program here
• Register for ITC 2017 here

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EIS Group would like to extend its sincerest congratulations this year’s honorees:

• Kim Berwanger, Brighthouse Financial
• Tammy Craig, Nationwide Insurance
• Michaele James, CSAA Insurance
• Mojgan Lefebvre, Liberty Mutual Global Specialty
• Alpa Patel, XL Catlin
• Ginger Purgatorio, The Allstate Corporation
• Linda Roubinek, Grange Insurance
• Susan Sachatello, CUNA Mutual Group
• Dawn Sly-Terpstra, Grinnell Mutual
• Larissa Tosch, Glatfelter Insurance

In addition to celebrating the honorees’ successes, the Women in Insurance Leadership conference features a network of insurance carriers, brokers, agents, and other industry professionals coming together for the purpose of leadership, growth, and development. The conference includes educational sessions on a variety of topics from The Cultural Heart of a Digital Transformation & Cultural Alignment to Planning for Tomorrow’s Disruption in Buying Behavior.

“We are delighted to be sponsoring the Women in Insurance Leadership event for the third year in a row,” says Rowshi Pejooh, executive vice president of product management and strategy at EIS Group.  “We have found this to be a valuable event for our team and all attendees. It provides an important opportunity to recognize and encourage the unique and invaluable perspective women bring to the industry while exploring key industry topics and promoting industry leadership.”

Additional Information:

• Check out the Women in Insurance Leadership agenda
• Register for Women in Insurance Leadership here

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“LIMRA’s Group and Worksite Benefits Conference is always an excellent venue for building relationships and sharing valuable industry insights among insurers and technology providers alike,” says Tony Grosso, vice president of product marketing at EIS Group. “EIS Group’s momentum in the group benefits market, which includes four new customers and record-setting implementations, has been aided by the opportunity to engage with carriers at past conferences to identify their challenges and goals and translate that into solutions that solve problems and provide a platform for their growth.” Visitors can stop by the EIS Group booth to find out more about new, flexible product and case design and management capabilities in addition to the advanced policy administration, billing, commissions, claims and customer management capabilities in EIS OneSuite™.

This year’s conference also offers some exceptional educational and engaging sessions such as Bring Life back into Life Insurance, The Changing Landscape of Ben Admin Technology – What Does the Future Hold?, and The InsurTech Insanity – New Trends and Investment Shifts. Program highlights also include notable speakers such as CNN’s political analyst and commentator Paul Begala and internationally recognized disability insurance expert Rosemarie Rossetti, PH.D.

Additional Information:

• Check out the LIMRA 2017 Group and Worksite Benefits Conference program
• View the LIMRA events app guide
• Register for LIMRA 2017 Group and Worksite Benefits Conference here
• Follow @EISGroupLtd on Twitter
• Follow EIS Group on LinkedIn
• Subscribe to EIS Group Blog

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In 2015, DGIG selected the EIS OneSuite solution as the multi-line, digital insurance platform for its enterprise-wide transformation initiative. With the addition of DXP™, DGIG is now equipped to enhance self-service capabilities and the digital experience for its customers and agents. DGIG’s first digital solution implementation using DXP will be the implementation of a self-service web app for agents.

DXP provides DGIG with a digital framework for creating and delivering digital experiences that will enable it to:

• Empower customers and agents with self-service quote, buy, policy servicing, claims and inquiry capabilities;
• Provide a satisfying omnichannel, persona-based user experience for customers, agents and suppliers;
• Package new products and value-adding services for digital distribution; and
• Increase speed-to-market and reduce the cost of digital solution delivery.

DGIG will also leverage DXP’s ability to serve as an integration layer that accelerates digital transformation. DXP will combine core transactions, services and data from EIS OneSuite and other core systems and sources via APIs, thereby supporting consistent, omnichannel experiences for all users during and after the modernization.

“We are very pleased to be able to provide DGIG with a platform that helps them meet the digital experience needs of their customers, agents and other users while also facilitating a faster and safer core modernization path,” said Alec Miloslavsky, chief executive officer for EIS Group. “We look forward to partnering with DGIG to extend the value of their EIS core systems implementation and take new steps on their digital transformation journey.”

The post Desjardins General Insurance Selects EIS Group’s Digital Experience Platform appeared first on EIS.

Guardian will deploy the EIS OneSuite solution’s fully integrated applications, PolicyCore®, BillingCore®, ClaimCore®, CustomerCore™, CustomerCore CEM™, and  DXP™ for a transformation initiative supporting the company’s drive toward industry leadership in the direct to consumer market.

“There is a growing segment of consumers today without access to insurance benefits through an employer, either because they work part-time, are independent contractors, or are self-employed.  We see an opportunity to help this growing consumer segment by offering products and services specifically designed for them, in a simple, convenient digital experience,” said Peggy Maher, Head of the Direct to Consumer business at Guardian.  “It’s important to us to provide our customers with an engagement experience that is similar to how customers already research and purchase other products online.  EIS’ advanced cloud-based architecture and end-to-end business capabilities are designed to support digital enablement at every customer touchpoint.”

EIS Group’s solutions will enable Guardian to:

• Support customer journeys with a seamless multi-channel experience;
• Quickly add new products to take advantage of market opportunities;
• Reduce the cost of operations by utilizing modern architecture; and
• Establish an efficient, cost-effective platform to support additional lines of business.

“EIS Group is honored to have been selected by Guardian as a strategic IT supplier,” said Alec Miloslavsky, CEO and executive chairman for EIS Group. “We are committed to helping Guardian grow their direct to consumer business and market leadership position with state-of-the-art, consumer-centered solutions. We look forward to partnering with them on this initiative.”

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CoreVelocity is the product of EIS Group’s extensive experience delivering multi-line core systems to Benefits and Property and Casualty insurers globally.  It embodies state-of-the-art practices as a modern DevOps solution for software development, test and delivery and leverages advanced cloud service environments provided by AWS or Microsoft Azure.

EIS Group’s CoreVelocity delivery approach delivers the following benefits to insurers:

• Accelerates time to value: Customers can get new pre-production systems up and running quicker, get work done faster using parallel work streams, and deliver user capabilities frequently to improve project alignment between IT/business.
• Improves quality: High-quality solutions and lower cost implementations are realized because a single environment is used across the entire project, solution testing is faster, and defects are identified earlier and resolved quickly.
• Ensures ongoing sustainability: Projects stay current on the latest version of base software during solution implementation and subsequent solution upgrade time, expense and risk are greatly reduced.

“CoreVelocity brings together a powerful package of capabilities that make it easier for our clients to achieve their transformation goals,” said Jim Caruso, executive vice president of worldwide professional services at EIS Group. “By providing a unified environment for their EIS OneSuite solution implementations, one that is the same environment used for our internal R&D, our clients can get to market quickly, have the very latest EIS OneSuite business capabilities at go-live, and can easily add new capabilities so they can realize sustaining value from their implementation.”

Key components of the CoreVelocity delivery approach are:

• An agile software development methodology.
• An integrated requirements management tool.
• A cloud-based, DevOps environment featuring continuous integration/continuous delivery (CI/CD).
• A patent-pending automated testing framework.
• A starter kit of integration tools and templates.

EIS Group clients have leveraged CoreVelocity components to accelerate their implementations and achieve business value.

• Liberty Mutual Insurance’s Benefits organization leveraged CoreVelocity in a cloud-based policy administration system roll-out for six new Life, Disability, and A&H products on a quote-to-claim platform in seven months.
• CSAA Insurance Group used the EIS cloud-based automated testing framework to achieve a reduction in regression testing time and production defects. This allowed the company to get more capability into the market by producing more tests at a faster rate and reduced costs.

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On Tuesday, June 6th at 3:30 pm, EIS will co-present with speakers from AWS and CSAA Insurance Group in a session titled: “Cloud²–Demystifying Data Security and Delivering Speed to Value.” In the first 45-minute part of this 2-part session, the speakers will explain how leveraging advanced cloud services environments in conjunction with new generation DevOps software development and implementation approaches can accelerate the speed to value of insurers’ digital transformation initiatives.

“Insurers are acutely focused on meeting ever-increasing customer expectations by harnessing new and potentially disruptive technologies,” says EIS Group EVP of marketing and alliances, Glenn Lim. “For this reason, IASA 2017 is an excellent venue for us to showcase how our core solutions and our digital experience platform of web and mobile apps provide insurers the omnichannel, persona-focused capabilities that support new customer journeys in an evolving digital economy.”

EIS Group is exhibiting at Booth #505 and is also participating in:

• Sponsorship of IASA 2017’s “Tweet, Post, or Snap your way to an Amazon Echo” Social Media Contest.

• Vendor Connect Tour on the topic of “Delivering the Best Customer Experience.”

Known in the industry as the premier marketplace where insurance carriers can explore a wide array of leading-edge solution providers, the IASA business show brings industry professionals and solution providers together to learn, share innovative ideas, network and collaborate. This year’s program offers over 80 technical sessions and features 200 solution providers. Scheduled highlights include speakers such as NASA astronaut Captain Scott Kelly on Monday, executive producer and television host Mike Rowe on Tuesday, and world champion adventure racer, firefighter, triathlete, and bestselling author Robyn Benincasa on Wednesday.

Additional Information:

• Check out the IASA 2017 Conference Program
• Register for IASA 2017 here
• Follow @EISGroupLtd on Twitter
• Follow EIS Group on LinkedIn

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“We are pleased to sponsor Digital Insurance’s annual event,” said Fazi Zand, senior vice president, products for EIS Group. “We are excited to support such a technologically progressive conference and demonstrate how EIS Group’s digital innovations are helping insurers stay ahead of market disruption.”

On Wednesday, May 10^th at 4:30 pm, EIS product experts will demo EIS Digital Experience Platform (DXP) in the Innovation Hall. Learn how DXP optimizes the digital experience by enabling carriers to meet ever-changing market demands. With DXP, carriers can provide customers with faster, role-based and value-added services that are tailored to each user’s unique needs and preferences across any device or channel. After the demo, our technologists will be available at Dig|In booth #2 to answer questions and provide information about how EIS Group can help your business solve your most challenging technology issues.
Dig|In is an opportunity to meet and network with key stakeholders in the insurance industry, from startups to industry pioneers to established leaders. The conference also provides a true learning environment, packed with case studies, prototypes, innovative demos, and talks from industry leaders who are working to make innovative technology the industry norm. Visit Dig|In for event and registration information.

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“Disability claims are quite complex and have often required too many manual processes at insurers,” said Tom Scales, Head of Americas – Life, Annuity and Health at Celent. “The level of automation now offered in ClaimCore, particularly the heavy calculations involved in disability plans and the ability to streamline processes, will be of big benefit to the insurer and the plan sponsors. The fact that this new release is already in production is a bonus.”

The addition of disability claims positions ClaimCore as a complete system supporting all the core and voluntary products in group and individual, worksite and voluntary markets all on the same platform.  The solution can be deployed as a standalone core system or as a modular component of EIS Core Insurance OneSuite™, providing benefits insurers with additional options for transforming their legacy core systems.  ClaimCore for disability claims is already in production at one large, US-based benefits insurer and being evaluated by additional carriers.

Using ClaimCore for short-term, long-term and statutory disability claims provides insurers significant advantages, including:

• A single comprehensive claim solution – ClaimCore simplifies operations by introducing a single solution that replaces disparate technologies, including claims payment, workflow and document imaging solutions, to deliver accuracy and consistency to the disability claims process.
• A powerful payment calculation engine – ClaimCore addresses the complexity of disability claims payments with automated, out-of-the-box calculations for: pro-rating overlapping periods of time; multiple partial disability payment methods; offsets, deductions, taxes and liens; recalculating paid periods; and multiple methods of recovering overpayments
• Seamless Integration with policy and customer data – ClaimCore connects to legacy policy and billing systems through a rich set of integration services to access all relevant disability claim eligibility information.
• Automated and auditable claims processes – ClaimCore leverages advanced workflow, rules and calculation engines to automate disability claims and help carriers improve customer satisfaction.

When ClaimCore is deployed as part of the EIS OneSuite™—comprised of PolicyCore®, BillingCore®, ClaimCore and CustomerCore™—eligibility, coverages and customer information are immediately available to claims operations without the integration burdens resulting from multiple vendor solutions. In addition, the common database and data model in the EIS OneSuite platform provides a single source of truth with data entered one time and leveraged throughout the entire customer lifecycle.

“We are very pleased to offer this superior disability claim management solution option to address the inefficiencies that can negatively impact claims customer service and increase expense for insurers,” said Jim Eva, EIS Group’s product executive for claims. “We have heard what our customers need and applied the computational power and design flexibility of the EIS platform to create a solution that works seamlessly within the EIS OneSuite or as a standalone component to deliver better claims outcomes.”

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In 2014, IAAH deployed EIS OneSuite™ comprised of EIS® PolicyCore®, BillingCore®, and ClaimCore®. With the addition of CustomerCore DXP, the insurer will be equipped to enhance quote, buy and self-service capabilities for its customers and partner channels, which include auto club and auto dealer networks. IAAH will begin its new digital initiative with the implementation of a self-service portal for direct customers.

“In today’s digital world, our clients want to interact with us on their terms, when and how they choose. They want simplified and convenient interactions that they can start on a mobile device and then continue on the web or via call center,” said Pascal Lavoie, chief information officer, IAAH. “Our choice of CustomerCore DXP perfectly fits our digital strategy because it leverages the unified nature of the EIS core systems and enables us to deliver an omnichannel, on-demand experience tailored to each user’s needs and preferences.”
Tightly integrated with the core processing systems in the EIS OneSuite, CustomerCore DXP will enable IAAH to:

1. Empower customers and partners with self-service quote, buy, policy servicing, claims and inquiry capabilities;
2. Enable a satisfying omnichannel user experience for customers, partners and suppliers; and
3. Increase speed-to-market and reduce the cost of digital solution delivery.

“The DXP solution package offers us flexibility and agility while being cost effective,” adds Lavoie. “With its comprehensive API/SDK portfolio, we are able to leverage the product and business rules in our core systems for our digital channels to achieve speed to market at a lower cost. DXP will be the nexus of web services for multiple channels. It also integrates well with other platforms. For example, while DXP provides necessary CRM functionality to the auto and home business unit, we can easily integrate with enterprise-wide CRM services provided by the IA Group.”

“We are very pleased to be able to provide IAAH with a digital solution that meets the diverse needs of their customers and partners,” said Jim Caruso, executive vice president of Worldwide Professional Services for EIS Group. “We look forward to partnering with them to extend the value of their successful EIS core systems implementation and take new steps on their digital transformation journey.”

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On Wednesday, February 1, Tony Grosso, vice president of product marketing for EIS Group will be joined by Maxwell Health’s co-founder and CPO, Vinay Gidwaney to present “The Future is Here: A Fully Connected Experience is Possible.” The speakers will describe the value of a fully connected, end-to-end digital ecosystem from shopping to claim and will provide attendees with actionable ideas on how to transform their organizations into digitally-enabled market leaders. The presentation will take place in the Pacifica Ballroom 6 from 3:30pm to 4:00pm. EIS Group experts will be available following the session and throughout the conference to explain how the company’s innovative, modern core systems enable insurers to achieve today’s goals and seize tomorrow’s opportunities.

“LIMRA’s annual seminar provides a platform for innovation—allowing both carriers and technology providers to work side-by-side in a unique and educational environment,” said Tony Grosso, vice president of product marketing for EIS Group. “EIS Group is excited to share with the attendees how our solutions are providing insurers the unparalleled, cloud-enabled tools they need to get on the fast track to success.”

Visit LIMRA ETSS for event and registration information.

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Achieving the AWS Financial Services Competency differentiates EIS Group as an AWS Partner Network (APN) member that has demonstrated relevant technical proficiency and proven customer success, delivering solutions seamlessly in the AWS Cloud environment. To receive the designation, APN Partners must possess deep expertise in the AWS platform and undergo an assessment of the security, performance and reliability of their solutions.

“EIS Group is proud to be one of the first APN partners to meet the standards AWS has established with the Financial Services Competency Program,” said Glenn Lim, SVP Cloud Strategy and Alliances. “The agility of the AWS Cloud combined with EIS’ core solutions and cloud-based deployment methodology has proved to be a fast path to business value for our customers.”
The AWS Cloud is enabling scalable, flexible and cost-effective solutions for banking and payments, capital markets, and insurance organizations of all sizes, from startups to global enterprises. To support the seamless integration and deployment of these solutions, AWS established the Financial Services Partner Competency Program to help customers identify Consulting and Technology APN Partners with deep industry experience and expertise.

EIS Group customers are looking to the cloud to save on infrastructure and operational costs and achieve market agility and speed to value goals. AWS Cloud is ideally suited to support EIS’ CI/CD (continuous integration/continuous delivery) environment which enables automation of multiple parallel work streams to accelerate deployments. Additionally, the EIS Core Insurance OneSuite™ leverages the scalability of the AWS Cloud to optimize solution performance and availability. With AWS, EIS Group continues to work to deliver the latest technologies and innovations to the insurance industry that drive improved customer service and competitive advantage.

VIDEO:  EIS Group CEO, Alec Miloslavsky comments on AWS and the value of the program.

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“ACORD’s annual conference delivers informative sessions in an environment that promotes discussion and engagement for attendees looking for solutions at a time of industry disruption,” said Philippe Lafreniere, senior vice president, product marketing for EIS Group. “EIS Group is excited to demonstrate how we are helping insurers get on the fast track to success with new product capabilities and unparalleled, cloud-enabled implementation speed for driving digital transformation.”

Come visit us at ACORD2016 to learn more about how our customer-centered design approach makes it easier for insurers to know their customers and more quickly deliver products and services that are relevant to their customers’ specific needs. EIS Group will exhibit at booth #322 where our EIS experts will be available to explain how our innovative, modern core systems enable insurers to achieve today’s goals and seize tomorrow’s opportunities.

ACORD2016 is an opportunity to meet and network with a broad spectrum of companies and roles that make up the global insurance industry, as well as to become familiar with ACORD Standards and Architecture. Attendees gain insight into the latest on the technology and business horizons while earning credits for continuing education and professional development. Visit ACORD2016 for event and registration information.

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“Small employers are a key component in driving economic growth, but their needs and abilities for delivering employee benefits are vastly different than the corresponding capabilities for large employers,” said Rob McIsaac, SVP, Research and Consulting, Novarica. “To effectively and profitably serve this small case market, carriers may need to find better ways to support the underwriting process. The legacy tools and processes which have done the job for large group contracts may not be up to the task of handling the functions needed for this emerging and highly competitive segment.”

A significant market opportunity exists among U.S. employers with under 500 employees, which totals 42 million employees. Benefits insurance research advisory firm Eastbridge reports that these employers are increasing their voluntary product offerings and that 84 percent of small case brokers expect voluntary revenue to increase as a percentage of their total business. The new release of EIS PolicyCore is designed to address this opportunity by streamlining underwriting processes for employers, brokers and insurers.

Key enhancements to PolicyCore that enable an efficient new business process from quote to issue for voluntary insurance include:

• Flexible Plan Creation – EIS’ innovative spreadsheet-paradigm rules engine is leveraged to provide underwriters with a user-friendly environment to streamline product development by configuring an unlimited number of product, plan, coverage and package eligibility options and parameters using spreadsheets. Included is a new Microsoft Excel add-in that enables business users to import plan data, make changes, and save it back into PolicyCore.
• Field-based Quoting – New and enhanced underwriting rules and authorities allow the underwriting organization to distribute workload within their new business departments and to the field. Field-based quoting allows underwriting to take place where the risks are most understood while automating referral of complex cases to specialized underwriters. The result is better quality underwriting, better utilization of resources and reduced new business cycle times.
• Automated Census Import – A new automated census import utility eliminates the laborious and error-prone entry of risk-based data into systems while also delivering an easy-to-do-business-with experience for producers and customers. The import utility allows the underwriter to map to the layout of the customer-supplied file, perform field level validation and automatically integrate with the EIS rating engine, thereby saving valuable time for both underwriters and customers’ HR departments while reducing errors.
• Rate Reporting and Tracking – Rating reports provide underwriters with insight on pricing formulae to help understand and explain how rates change based on plan changes, thereby improving broker satisfaction.  Additionally, rate tracking reports are available to track and measure manual rate through to installed rate to help carriers manage profitability.

“By introducing these advanced underwriting capabilities, EIS Group has again addressed a gap in insurance technology that could be an impediment to growth,” says Tony Grosso, Vice President of Product and Industry Marketing at EIS Group. “Our customers have been quick to leverage our latest software release to overcome legacy system constraints to small case market expansion. Strengthened underwriting capabilities are the latest step in the evolution of our core insurance platform for benefits insurers, and follow the introduction of full claims management and flexible billing management into the platform over the last twelve months.”

The post EIS Group Announces Enhancements to Underwriting Solution for Benefits Insurers appeared first on EIS.

“We are very pleased to be sponsoring for the second year SMA’s marquee annual event,” said Philippe Lafreniere, senior vice president, product marketing for EIS Group. “The Summit provides a first-rate opportunity for insurance leaders to gather and to gain the insights they need to move forward today and prepare for tomorrow in our rapidly changing industry.”

Philippe will be speaking on the panel “Connecting Core Systems to the Ecosystems of the Future.” He will also be available to discuss how EIS Group’s unique core insurance software is enabling carriers quickly adapt to the changing market conditions, innovate freely with products and channels, and grow their businesses by successfully engaging today’s connected consumer.

With its focus on insurance innovation and transformation, the SMA Summit is a must for insurance leaders who are thinking, planning and executing with the purpose of becoming a Next-Gen Insurer.  Visit SMA for event and registration information.

The post EIS Group Announces Thought Leadership Sponsorship for 2016 SMA Summit appeared first on EIS.

“We are very pleased to once again sponsor and participate in this annual event,” said Anthony Grosso, vice president, industry marketing for EIS Group. “This conference provides an excellent forum for attendees to network with peers and industry partners, stay informed on the latest trends, and explore solutions to their most pressing challenges. And in today’s dynamic market conditions, these events become even more critical as insurers look for ways to adapt and innovate, and grow their benefits business.”

The LIMRA Group and Worksite Benefits Conference is the only event of its kind where executives and professionals and partners in the workplace benefits market come together to learn how to resolve insurers’ most difficult challenges and to share ideas on growth opportunities. EIS Group experts will be on hand to discuss how the company is helping insurers get on the fast track to success with new product capabilities and unprecedented implementation speed at lower risk and higher quality.

The post EIS Group Announces Premier Sponsorship for 2016 LIMRA Group and Worksite Benefits Conference appeared first on EIS.

Key enhancements to CustomerCore DXP include:

• Native mobile SDKs: A new, robust set of software development kits (SDK) for iOS and Android provide out-of-the-box templates and a flexible environment where insurers can customize mobile applications and take advantage of native device capabilities, such as location services and IoT sensors.
• Extensive API portfolio: A comprehensive set of RESTful APIs expose end-to-end core processes in the EIS Core Insurance OneSuite™ to deliver core functionality within persona-centric portals and web and mobile apps for customers, agents, field staff, partners and vendors.
• Enhanced API Gateway: New API Gateway configuration capabilities improve API performance and administration through precise management of services for each target persona.
• Smarter digital search: New RESTful APIs enable faster and more granular data-prefill and search requests by customers, agents and partners from within the portals as well as web and mobile apps. In addition, results can be limited to a persona, book-of-business or brand.

“Real-time omnichannel engagement is in high demand by consumers and a pressing priority for insurers,” says Fazi Zand, SVP Product Development, EIS Group. “Our flexible digital tools, assets and apps enable multi-modal, omnichannel solutions for our clients to provide a satisfying user experience for customer, agents, partners and staff. The latest CustomerCore DXP release is another big step in expanding our industry-leading digital capabilities.”

EIS CustomerCore DXP enables insurers to go beyond multichannel access by unifying online, mobile, and contact center channels, and connecting those channels—in real time—with EIS’ core insurance systems and third-party systems to deliver true omnichannel engagement. It also delivers speed-to-market for digital solutions at lower cost by reusing complex rules, workflows and integrations already defined in EIS Core Insurance OneSuite.
CustomerCore DXP includes digital solutions for:

• Self-Service
• Benefits Administration
• Quote and Buy
• Claims Management

The post EIS Group Announces Enhancements to Digital Experience Platform for Insurers appeared first on EIS.

The new release features a refreshed user interface and navigation and an advanced business reporting environment for the suite of separately implementable and pre-integrated applications—PolicyCore®, BillingCore®, ClaimCore® and CustomerCore™. Additional updates include significant enhancements to customer servicing and ease of use in the areas of underwriting, product design and distribution.

At the platform level, EIS Core Insurance OneSuite 7 enhances customer servicing and engagement by enabling insurers to capture complex relationships between multiple entities, such as policyholders, businesses, and locations, and create rules about the relationships. The EIS Core Insurance OneSuite’s business intelligence capabilities have also been enhanced with a new data visualization tool and a high-performance analytics data warehouse/data mart environment which speeds access to customer analytics and other forms of decision-making operational data.

Specific to underwriting, policy administration, billing, and claims management, EIS Core Insurance OneSuite 7 offers the following enhanced capabilities:

• Expanded customer tiering enables tailored underwriting and policy servicing experiences. Additionally, faster and more personalized service is enabled through increased segmentation, pre-population of customer data and versioning of historical data for easy access.
• New “brand” configuration allows complex insurance organizations to define products and manage them within separate brands on a single system.
• New Coverage Manager simplifies the management of complex policies via a user-friendly, table-based approach to selection of coverages and forms. A new productivity tool for importing and exporting locations and risk data is also available.
• New Package Builder allows non-IT users to streamline product development by configuring an unlimited number of product and package eligibility options and parameters using spreadsheets.
• New billing capabilities provide greater flexibility in the management of payment methods and installment payment dates, as well as the inclusion or exclusion of commissions on agency bills.
• Claims enhancements deliver advanced claim segmentation and assignment, expand functionality for recurring payment, address mapping, and data pre-fill, and add controls for privacy of specific claims. New workflows and alerts also deepen ClaimCore’s real-time integration with ISO ClaimSearch.

“With its newest release of EIS OneSuite, EIS Group continues its leadership in providing insurers a unified, customer-centered core administration platform,” said Mark Breading, partner at insurance advisory firm SMA. “New capabilities make EIS OneSuite uniquely customer aware and able to leverage core customer data effectively to improve customer experiences and offerings, a critical ability for insurers in the age of the customer.”

“Property and casualty insurers around the globe are looking to improve business processes and bring more value to every customer interaction in order to drive retention and growth,” said Alec Miloslavsky, executive chairman and CEO, EIS Group. “We are excited to bring OneSuite 7 to market to help them achieve this goal.”

EIS Group is exhibiting at IASA 2016 at booth #501 and will be co-presenting the education session #674 “Core Customer Intelligence at Work = True Customer-Centricity for Insurers” at 3:30pm on Tuesday, June 14.

The post EIS Group Announces EIS Core Insurance OneSuite 7 for P&C Insurers appeared first on EIS.

Case studies of underwriting, policy administration and billing systems replacement initiatives leveraging EIS solutions for AIG Canada’s Accident & Health business and CSAA Insurance Group’s personal lines business were published recently in Novarica’s Best Practices Case Studies Compendium, available to Novarica Council members at http://novarica.com/compendium2016

Final winners will be selected exclusively by votes from the nearly 400 insurer IT executive members of the Novarica Insurance Technology Research Council. Voting is open until September 15, 2016, and winners in each category will be announced this fall.

“Since 2012, Novarica has published more than 150 case studies of insurer IT initiatives that deliver business impact,” said Matthew Josefowicz, president and CEO of Novarica. “These cases provide insights into how insurers are using technology to drive business value today, not in the distant future. EIS Group’s project with AIG and CSAA Insurance Group are among this year’s qualifying cases.”

“EIS Group congratulates AIG and CSAA Insurance Group on their recognition by Novarica as industry leaders and we a proud to have contributed to the success of their core systems replacement initiatives,” said Alec Miloslavsky, CEO, EIS Group.

The post EIS Group Clients AIG and CSAA Insurance Group Qualify for Novarica Impact Awards for Core Systems Transformation appeared first on EIS.

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EIS University offerings are created to build expertise with EIS products and methods and enable self-sufficiency. Training content includes self-study courses, virtual instructor-led courses and access to extensive product documentation. Project-specific learning plans support diverse training needs and allow project leaders to create customized training plans to best support the program plan, products, experience levels, and project roles.
EIS University enhancements…

• Enable project team leaders to easily orchestrate just-in-time learning to accelerate project delivery;
• Include an increased ratio of hands-on exercises that improve readiness for production environments;
• Ensure learners can easily track progress through training courses and learning plans via personalized dashboards; and
• Empower project team leaders to monitor an individual’s course completion and performance to ensure alignment with project delivery timetables.

“As insurance companies evolve from process-focused to solution-focused organizations, they must effectively train staff and engage the most qualified partner resources to create a responsive workforce,” says Ben Frueh, senior director, EIS University. “Using comprehensive, easily accessible and flexible training options, EIS University drives EIS Group partner and customer success by building software knowledge skills and expertise in best practices.”

The post EIS Group Enhances Its On-Demand EIS University with Learning Plan Capabilities and New Insurance Software Courseware appeared first on EIS.

The insurer selected the EIS® software to increase product agility, streamline and improve processes, and deliver consistent and productive customer experiences. The EIS solution replaces several legacy core systems and supports a diverse portfolio of over 25 plan offerings for both group and individual insurance. The implementation was successfully rolled out on time and under budget in eleven months.

The rapid deployment was achieved through EIS Group’s accelerated implementation approach. The approach features a fully managed cloud-based development environment and combines a prescriptive methodology—based on EIS Group’s proven best practices and optimized for EIS software—with a high level of automation in the development and testing cycles.

The EIS solution is enabling the insurer to:

• Standardize policy and billing practices and quickly make system changes that improve processes and productivity;
• Efficiently manage and introduce products to meet market needs;
• Leverage automated processing and real-time capabilities to serve customers more effectively;
• Introduce actuarial self-sufficiency and rating and pricing transparency; and
• Fully audit all transactions to enhance business controls and reporting.

“When done right, core systems replacement is a quick path to business value and market agility achieved with minimal disruption and opportunity cost,” says Jim Caruso, EVP, Worldwide Services, EIS Group. “Employing our proven implementation methodology was critical to successfully handling the large scope of the project and delivering speed to market.”

The post Multinational Insurer Achieves Speed to Market for Group Benefits Business with EIS Core Systems appeared first on EIS.

ITA LIVE is about all things “new” and sessions at the conference will include topics such as “Future of Leadership”, “Driving Digital Transformation & Organizational Evolution”, and “Enhancing the Insurance Customer Experience through a 360 View of the Customer.” Through this event, the Insurance Technology Association’s goal is supported to provide members with opportunities to collaborate, educate, network, share, and use knowledge related to insurance technology.

The post EIS Group Announces Platinum Sponsorship for 2016 ITA LIVE appeared first on EIS.

“Today’s cloud technologies are serving up a range of cost and efficiency benefits in secure, scalable, and high-performance environments. As a result, insurers of all sizes are now looking to the cloud to help them drive business value through accelerated time to market, reduced total cost of ownership, and enhanced agility,” says Pigott. “My goal is to advance the value of cloud services for EIS customers by engaging the top cloud technology talent, deploying best-in-class tools and bringing innovation that simplifies customers’ IT environments.”

Prior to joining EIS Group, Pigott was CTO and vice president of Product and Services for cloud-based global services provider, Bell Integrator. Preceding Bell Integrator, he served as CTO and vice president of Product and Services at LiveVox, a global full-service Software-as-a-Service (SaaS) provider where 90% of customers are BPO. Before LiveVox, Pigott served as COO of NetworkOmni a global hosted, SaaS multi-lingual translation and interpretation company.

“At EIS Group we have an extensive track record of innovation and in 2010 we were among the first core system providers to offer a ‘core in the cloud’ solution,” said Alec Miloslavsky, chairman and CEO, EIS Group. “We remain committed to ensuring our customers can benefit from all the cloud has to offer by way of flexibility, scalability, performance and security. With the addition of Chris to our leadership team, we can build on our early successes and continue to deliver core systems that are optimized for today’s, and tomorrow’s, connected economy.”

The post EIS Group Appoints Chris Pigott SVP of Cloud Services appeared first on EIS.

“Group and voluntary carriers are increasingly looking to invest in technology replacement plans to free them of their legacy system constraints. Rather than pursuing wholesale conversion of monolithic existing platforms, we see some carriers starting with underwriting, billing and claims as logical starting points on a measured multi-year journey,” said Rob McIsaac, SVP, Research and Consulting, at Novarica. “With the addition of ClaimCore for the benefits market, EIS Group expands the options available to carriers as they extend their transformation plans for dealing with legacy technology platforms and the associated processes that they support”.

The latest version of ClaimCore increases automation of critical claims tasks and leverages enhanced workflow, work queues, rules, notes and document generation and management capabilities to deliver automated and auditable claims processes for the benefits industry across multiple lines of business.
When ClaimCore is deployed as part of the EIS OneSuite™—comprised of PolicyCore®, BillingCore®, ClaimCore and CustomerCore™—eligibility and customer information are immediately available to claims operations without the integration burdens resulting from multiple vendor solutions. In addition, the common database and data model in the EIS OneSuite platform provides a single source of truth with data entered one time and leveraged throughout the entire customer lifecycle.

“The benefits claims functionality now available in ClaimCore allows our clients to manage and adjudicate claims in an efficient, accurate manner that increases satisfaction for customers and improves visibility and coordination for the carrier while delivering better claims outcomes,” said Jim Eva, EIS Group’s product executive for claims.

The post Latest Version of EIS Group’s ClaimCore System Delivers Integrated Claims Functionality for Benefits Insurance appeared first on EIS.

• Accelerated speed to market;
• Growth in new markets;
• Greater automation and efficiency;
• Extended broker and customer self-service;
• Enhanced customer experience; and
• Improved risk selection.

The EIS digital-ready insurance platform was chosen for its unique ability to generate a speed-to-market advantage and to support the automated, streamlined processes required by the insurer. The market expansion also calls for the addition of six new, and more simplified, product versions by the insurer which will be created and deployed through EIS Product Factory—the configuration-based product development and deployment toolkit—to fulfill the insurer’s speed-to-market objectives.

“We have seen tremendous interest from large and mid-sized carriers seeking to unshackle themselves from their traditional infrastructure in favor of more agile solutions that can provide speed-to-market advantages,” said Anthony Grosso, vice president, product marketing and industry strategy of EIS Group. “Implementing EIS OneSuite™ frees our client of the legacy system constraints impeding their growth objectives; and the modular nature of the software helps them address their most pressing priorities first, while being forward compatible as they expand to the full suite of capabilities.”

The implementation will be delivered in phases to allow the insurer to realize business value faster. Aligning with the insurer’s objective to get the new products to market in 2016, EIS Group will first deliver capabilities for underwriting, quoting and enrollment. Subsequent 2016 releases will include functionality to process billing, claims and renewals as the policies enter their effective dates.

The post Large U.S. Insurer Selects EIS Group’s Core Insurance OneSuite for Voluntary Benefits Business Expansion appeared first on EIS.

“EIS Group is once again pleased to sponsor and participate in this top-notch LIMRA event,” said Kristie Jones, VP of marketing, EIS Group. “The ongoing shift from group to voluntary insurance and the advent of exchanges is causing market disruption and opportunity. Last year we had very positive engagement with attendees  seeking strategies for core system replacement that improved their ability to adapt to change and improve overall business efficiency.”

The annual LIMRA 2016 Enrollment Technology Strategy Seminar provides a forum for LIMRA member insurance companies and technology service providers to participate in an open discussion on how to cohesively work together and define better outcomes. The goal of the seminar is to connect the participants with peers and technology purveyors to learn, network and share innovative ideas to help identify potential solutions to existing challenges.

The post EIS Group Announces Diamond Sponsorship for 2016 LIMRA Enrollment Technology Strategy Seminar appeared first on EIS.

“EIS Group is pleased to sponsor and participate in ICTC2016,” said Kristie Jones, vice president of marketing, EIS Group. “Each and every year, Insurance-Canada.ca does an excellent job of bringing all avenues of the industry together in an environment of learning and networking. This informative event is valuable to all who attend and is an excellent forum for insurers to explore best practices for leveraging technology to meet their immediate and future challenges.”

ICTC2016 will bring together practitioners, analysts, and suppliers to share their experiences with technology implementations and discuss technology’s impact on critical business issues.

The post EIS Group Announces Gold Sponsorship for 2016 Insurance-Canada.ca Technology Conference appeared first on EIS.

DGIG will deploy EIS OneSuite’s fully integrated applications, PolicyCore®, BillingCore® and ClaimCore®, as a new multi-line, multi-channel digital insurance platform for a large enterprise-wide transformation initiative needed to help the company respond to the demands of an evolving market and the insurer’s own growth strategies.

The license agreement covers 15 years of use of EIS OneSuite, and the system deployment will span multiple years and entail several phases.
“EIS Group is honored to have been selected by DGIG as a strategic IT supplier,” said Alec Miloslavsky, CEO and executive chairman for EIS Group. “We are committed to helping them extend their market leadership and reputation for great products and service and look forward to successful completion of this large-scale initiative.”

The post Desjardins General Insurance Group Selects EIS Group’s OneSuite of Insurance Software for Policy Administration, Billing and Claims appeared first on EIS.

EIS Group will leverage Blueprint’s wide array of requirements management capabilities both for its internal product development and for its customer implementations. Leveraging the Blueprint solution enables EIS Group to accelerate delivery of its industry leading solutions while reducing total cost of ownership for its customers.

“Blueprint is excited to team with EIS Group as part of Blueprint’s expansion into the insurance technology sector,” said Martin Saipe, Senior VP of Corporate Development. “As both a customer and ISV partner, EIS Group is uniquely positioned to leverage the value of Blueprint within complex insurance system implementations.”

“EIS Group is focused on helping insurance carriers confidently replace their legacy core systems so they can adapt and win in today’s hyper-competitive market, and we recognize that effective requirements management is key to making that happen,” said Rowshi Pejooh, SVP, product management for EIS Group. “Through our use of Blueprint, we are equipped with a best-in-class solution that drives significant value for us and our customers. The solution helps us accelerate software deployment while enhancing quality and reducing cost.”

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The new ISO ClaimSearch integration model will provide EIS Group’s customers with an unprecedented interactive view of industry claims data. The model will help claims handlers who work in the EIS claims management system, ClaimCore™, to navigate seamlessly across a series of interactive analytics and improve efficiency. The availability of ISO ClaimSearch analytics within the EIS solution will also provide real-time claims data using a new single sign-on (SSO) and ETL (extract, transform, load) data extraction process.

“Implementing deep claims system integration is an important step in the evolution of real-time claim analytics and processing,” said Carlos Martins, vice president and general manager of ISO ClaimSearch Solutions. “EIS Group has shown foresight in bringing this project to fruition. The integration with ISO ClaimSearch will provide immediate benefits to its customers, ultimately helping them reduce cycle time and IT costs through numerous efficiencies. The implementation will also boost EIS customers’ bottom line through built-in fraud detection capabilities.”

Click here to continue to the full version on the ISO website.

The post New Era in Claims Processing: ISO ClaimSearch Integrates with EIS Group’s ClaimCore Software appeared first on EIS.

The insurer’s goals for replacing the A&H legacy systems include:

•  Simplification and acceleration of product development and maintenance;
•  Enhanced customer experience;
•  Greater automation and efficiency; and
•  Consistent operations and compliance control.

Implementation of the EIS solution to support a diverse portfolio of over 25 plan offerings for both group and individual insurance is following a 10-month schedule, with several products already moved into the user acceptance phase. The deployment has leveraged the EIS Product Factory™ product development tool and DeltaBase™ methodology to accelerate the design and implementation of complex product and business rules while simplifying overall product maintenance.

A key driver for the project is the automation of manual processes to both increase efficiency and to implement consistent processes throughout the entire customer lifecycle. The EIS platform provides extensive process configuration and includes business activity monitoring and reporting capabilities that allow the insurer to analyze and target tasks for further automation as part of a continuous improvement model. Comprehensive business rules and workflow have also allowed the insurer to enhance business controls.

A key implementation outcome requested by the insurer is improved mechanisms for automated rating, a requirement that is being met through a configuration of the flexible product-pricing tool that is a feature of the licensed policy administration system—PolicyCore™. The tool has consolidated and simplified complex pricing models and provided a transparent and traceable process. It supplies the insurer with the necessary agility to rapidly respond to market pricing conditions.

“EIS Group is pleased to help our client modernize its capabilities and build a faster, better and stronger insurance business with particular emphasis on increasing product agility and improving operations and controls,” said Geoff Walton, EIS program director. “This core system replacement project demonstrates the remarkable implementation velocity available with EIS OneSuite to support customers’ aggressive business objectives.”

The post Multinational Insurer Installs EIS Insurance Software for Its Group Benefits Business appeared first on EIS.

Across supported lines of business, the modal billing functionality allows EIS Group insurance company clients to adjust premium billing to fit specifications for any payroll type or frequency preferred by an employer, business or individual. To keep pace with industry trends and consumer preferences, this moves the modern insurer away from monthly batch billing and provides flexibility for better ease of doing business, reduced reconciliation time, improved cash flow across the value chain and the ability to compete without constraint.

“Billing systems are becoming value-added technologies in need of replacement and regular updates to keep pace with customer demand and growing data complexity,” said Karen Pauli, senior executive advisor for CEB TowerGroup. “They are being pulled out of the back-office and put onto the front lines. Modal billing is among the key features EIS Group has developed for insurer customers, customer service representatives and agents that facilitate usability and focus on areas that are important for commercial, personal, and benefits lines of business.”

The EIS OneSuite, which includes PolicyCore™, BillingCore™, ClaimCore™ and CustomerCore™, is built on an open, scalable platform to support multi-line, multi-distribution, and multi-point engagement over the lifetime of customer interactions. BillingCore, in particular, automates critical billing tasks for both inbound and outbound payment issues and enables insurers to produce a consolidated bill for all products by customer, to configure billing rules to minimize time spent on maintenance and administration. Additionally, BillingCore helps insurers operate seamlessly and efficiently in an omni-channel environment, which aligns with the flexible ways customers want to be billed.

Other enhancements to BillingCore are designed to increase speed-to-market, enable internal efficiencies for insurers and improve customer service, including:

• Support for business rule creation which automatically populates payroll calendars with appropriate premium deductions according to, and in alignment with, invoicing calendars;
• Suspension of billing account handling to support payment-to-invoice reconciliation;
• Enhanced payment plan and billing due day configuration;
• Paid-to-date indicators at both the group and account level;
• Real-time billing moratorium updates; and
• Returned premium handling flexibility.

The post New Version of EIS Group’s BillingCore Delivers Modal Billing Functionality for Personal, Commercial and Benefits Insurance appeared first on EIS.

Maintaining rates, rules, and forms is a complex and labor-intensive process for U.S. property and casualty (P&C) insurers, many of which use ISO as a resource to help stay on top of loss cost trends, new product forms, and regulatory changes. The integration of ISO ERC gives PolicyCore’s rating and product management tools direct access to ISO circular updates. The solution simplifies the update process by enabling insurers to adopt new revisions quickly to keep products up-to-date in the market and to accelerate the implementation of new ISO-based insurance products. EIS Group is an ISO Electronic Rating Content Associate.

According to a recent Novarica research paper, insurers using electronic — rather than manual — means to handle ISO changes have, on average, achieved a 39 percent reduction in overall work hours, a 38 percent reduction in overall cost, a 58 percent decrease in work time for IT modification, and a seven-month improvement in being current with ISO circulars.

PolicyCore with ISO ERC provides time and cost reduction and operational benefits to insurers by:

• Decreasing the risk of coverage, pricing, underwriting, and reporting errors with ISO-interpreted updates;
• Enabling centralized management of ISO content from within PolicyCore;
• Automating the processing of multi-state content and state exceptions;
• Enabling company deviations of rates, loss cost multipliers, algorithms, and coverages;
• Implementing and maintaining company-specific deviations while consuming ISO updates; and
• Identifying changes from previous ISO versions and modeling the impact on company deviations before going into production.

“We’re very pleased to have EIS integrate ISO ERC into PolicyCore,” said Mark Sheehan, assistant vice president of ISO Rating Solutions at ISO. “We believe ISO ERC-enabled vendors provide tremendous advantage to P&C insurers.”

PolicyCore with ISO ERC provides greater visibility into the process, and grants users complete independence to update and manage ISO content and deviations without reliance on vendor schedules. This ability allows greater differentiation in the market and prevents premium leakage. In addition, PolicyCore’s powerful rating engine and product configuration tools are able to leverage the ISO ERC data to deliver an enhanced level of error proofing, traceability, and testing of ISO updates before implementation.

“Integration with PolicyCore underscores our commitment to commercial lines insurers seeking greater speed-to-market and product agility,” said Steve Forte, vice president of product marketing for EIS Group. “Our introduction of ISO ERC, coupled with the rollout of preconfigured commercial auto, property, and liability products earlier this year, gives insurers a very powerful, modern, and flexible commercial lines solution.”

The post EIS Group Introduces ISO Electronic Rating Content Integration with EIS PolicyCore Insurance Core System appeared first on EIS.

“Insurers tied to legacy systems are struggling to take advantage of opportunities in a growing and competitive market in Brazil,” said Juan Mazzini, senior analyst for Celent, a leading global analyst firm. “The availability of EIS OneSuite for commercial lines localized and compliant with SUSEP regulation is a breath of fresh air given the scarcity of modern solutions in the local marketplace.”

EIS OneSuite, a core administration software solution with components for policy administration, billing, claims and customer engagement, reduces the risk of a legacy replacement by providing insurers robust insurance processing capabilities with complete lifecycle transactional management. Via Pre-Configured Solution Packages for personal and commercial lines, the EIS OneSuite leverages pre-assembled insurance products with modifiable product definitions, processes and interfaces to achieve rapid, efficient product deployments, improved operational efficiency, greater ease of use and simplified future software upgrades. The EIS OneSuite software system can be deployed on premise or in the cloud.

EIS OneSuite Version 6.2 features additional enhancements to improve processing accuracy and productivity, including:

• Optimized user experience;
• Greater configurability of billing rules;
• Improved single event/multiple claim management; and
• Enhanced commission strategy and plan management.

With this release, EIS Group also introduces plug-and-play reinsurance integrations. In Version 6.2, a new configurable interface allows reinsurance to be integrated directly into the underwriting process by supporting all the workflows required for open integration to external reinsurance software solutions. Benefits include reduced implementation timeframes and better risk management overall.

“Insurers in Latin America are facing dramatically increased levels of regulation which compound compliance issues,” said Viriato Leao, SVP for EIS Group. “Version 6.2 of the EIS OneSuite significantly expands the commercial lines functionality available for this important insurance market. And, our Brazilian customers will benefit greatly from the integrated automatic update service which will make compliance with SUSEP regulations much easier.”

The post Brazil Release of Latest EIS OneSuite Version Introduces Pre-Configured Solution Packages for Commercial Insurance Lines appeared first on EIS.

“As seguradoras que dependem de sistemas de legado estão tendo dificuldades para aproveitar as oportunidades do mercado em crescimento e competitivo no Brasil”, disse Juan Mazzini, analista sênior da Celent, empresa líder de  análise global. “Ter acesso à EIS OneSuite para linhas comerciais, localizadas e em conformidade com a regulamentação da SUSEP é uma mudança positiva entre as raras soluções modernas disponíveis no mercado local.”

A EIS OneSuite, uma solução de software de administração central com componentes para administração de apólices, cobrança, sinistro e relacionamento com o cliente, reduzindo o risco da substituição do legado através de sua capacidade de processamento robusta e do gerenciamento completo do ciclo de vida de uma apólice. Com os pacotes de soluções pré-econfiguradas para linhas pessoais e comerciais, a EIS OneSuite alavanca os produtos de seguro pré-montados e configuráveis, com processos e interfaces facilmente configuráveis para permitir  implementações de produtos rápidas e eficientes, melhor eficiência operacional, uso mais fácil e maior facilidade para upgrades. O software da EIS OneSuite pode ser implementado no local do cliente ou na nuvem.

A EIS OneSuite Versão 6.2 apresenta melhorias adicionais para aumentar a  integridade e a produtividade do processamento, incluindo:

• Experiência otimizada do usuário;
• Maior capacidade de configuração de regras de cobrança;
• Melhoria da gestão de sinistros, para eventos simples ou múltiplos; e
• Aprimoramento da estratégia de comissões e planos de pagamento.

Com este lançamento, o EIS Group também lança a integração plug-and-play com sistemas de resseguros. Na Versão 6.2, uma nova interface configurável permite que o resseguro seja diretamente integrado ao processo de subscrição, apoiando todos os fluxos de trabalho necessários para uma integração aberta com soluções de software de resseguro externas. Os benefícios incluem o menor prazo para implementação e melhor gerenciamento de riscos globais.

“As seguradoras da América Latina estão enfrentando um aumento drástico do nível de regulamentação, que se soma a questões de conformidade legal”, disse Viriato Leão, SVP do EIS Group. “A versão 6.2 da EIS OneSuite expande substancialmente as funções das linhas comerciais disponíveis neste mercado de seguros tão importante. E os nossos clientes brasileiros se beneficiarão imensamente com o serviço de atualização automática e integrada, que facilita a conformidade com os regulamentos da SUSEP.”

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In his new position, Lim will be responsible for bringing to market new cloud-based innovations designed to help EIS Group customers and partners improve software quality, accelerate software deployment and reduce the total cost of ownership (TCO) of insurance core administration systems.

EIS Group believes cloud-based technologies offer a significant opportunity to insurance companies looking for ways to modernize technologies which can effectively reduce the burden of maintaining legacy systems. A recent analyst study shows that on average only six percent of insurance industry IT budgets are spent on new research and development, with the majority of budgets spent on managing and maintaining existing software and infrastructure. As more technology moves to the cloud, insurance companies can leverage these opportunities to reduce the amount of resources required to operate critical IT systems. Insurance companies can then allocate more resources to innovations which can deliver better customer service and competitive advantage.

“What attracted me to this position is the fact that EIS Group has the best platform, core and mobile applications on the market,” said Lim. “One of my goals at EIS Group is to create cloud-based services capable of accelerating implementations, including the testing and upgrading of integrated core administration systems, while significantly reducing the associated cost.”

Lim brings a wealth of technology experience to the table for EIS Group, having held executive positions in both enterprise and cloud-based companies such as Oracle, PayPal and Salesforce. He previously served as vice president of Cloud Alliance Programs, Strategy and Operations at Salesforce.com, as well as general manager of Alliances, Channels and Vertical Markets at PayPal. Among Lim’s many roles during his nearly two decades at Oracle, he served as vice president of Worldwide Alliances and played a significant role in building the Oracle On-Demand business. Lim is a well-known and frequent speaker at industry conferences, and in 2012 CRN Magazine named him one of the “Top 100 People You Should Know.”

“We are very pleased to have Glenn join our leadership team,” said Alec Miloslavsky, CEO and executive chairman for EIS Group. “EIS Group is an innovator in the insurance industry, and with Glenn’s level of expertise in cloud technology and alliance building we will continue to lead the industry in cloud-based offerings. Our goal is to demonstrate where cloud technologies can create value not only for our existing insurance customers, but for the industry at large.”

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Caruso’s leadership will focus on customer success by establishing a world-class services practice that leverages the collective talents of EIS Group, customers, and partners to quickly deliver high-quality insurance applications. Other areas of focus for Caruso include enhancing customer self-sufficiency with emerging training techniques, as well as lowering the cost and time needed to successfully implement insurance core systems through the application of innovative technologies.

“EIS Group has a 100 percent implementation success rate and a track record of providing state-of-the-art technology,” said Caruso. “Building from this solid foundation, I am eager to take EIS Group’s services organization to the next level by expanding our global partner ecosystem and by using technology, methods and resources to ensure everyone involved achieves success.”

Caruso joins EIS Group from Pegasystems (Pega), where he ran professional services and technical education efforts for the company’s insurance and healthcare divisions. Prior to Pega, Caruso directed and managed a succession of high-growth businesses focused on a range of professional services, including global software delivery, information engineering, management consulting, network management outsourcing, and business process automation.

“Helping our customers and partners be successful has always been, and continues to be, our number one goal,” said Alec Miloslavsky, CEO and executive chairman for EIS Group. “Jim has the experience to know what is necessary to implement high-quality software solutions in a timely fashion. With Jim at the helm, I’m confident the EIS World Wide Services team will continue to be a strong contributor to the overall success of EIS Group.”

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The Celent Model Insurer Asia Awards are the company’s premier vehicle for recognizing insurers for implementation and utilization of technology in the Asia-Pacific region. The basis for AMI’s award submission was an enterprise technology modernization effort that included the implementation of EIS Group’s core administration software system—EIS OneSuite™.

As a division of IAG, New Zealand’s largest fire and general insurance provider, AMI writes business through a network of approximately 70 stores and two call centers nationwide. Prior to the transformation initiative, AMI’s business operations were limited by manual processes and a legacy system that had become expensive to maintain and incapable of supporting current and future business needs, including improved customer service and faster speed to market for new products.

The implementation of the new core systems enables the insurer to standardize processes across the enterprise, automate underwriting, streamline new business processing, reduce operational costs, improve the overall customer experience and modernize communications and self-service capabilities. AMI is working toward a full conversion of all in-force policies, and has thus far converted more than 50 percent of all customers and policies.

“The AMI core systems replacement with EIS OneSuite is an excellent example of how insurers can reap very broad and significant business benefits and competitive advantage from modernizing legacy systems while also establishing a robust foundation for growth,” said Wenli Yuan, a senior analyst at Celent and author of the report. “In the industry at large, due to the complexity of these projects, the probability of realizing these benefits is often quite uncertain. Consequently, few insurers have completed front to back modernization processes. This is what makes the AMI transformation praiseworthy.”

“We are very pleased to be able to congratulate AMI Insurance on being named a 2015 Model Insurer for the success of a project that shows true vision for the future of insurance,” said Alec Miloslavsky, CEO and executive chairman for EIS Group. “It is extremely gratifying to see AMI Insurance recognized with this prestigious honor for the hard work of an outstanding team, and for their ongoing success with core administration modernization that not only increases agility and scalability, but improves the customer experience as well.”

More information about the award is available as a case study in the Celent Model Insurer Asia 2015: Case Studies in Effective Use in Insurance report. A copy of this report featuring the AMI case study is available for download here.

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“This was a great success for Industrial Alliance,” said Pascal Lavoie, CTO for IAAH, who was on hand to accept the award, as well as a plaque commemorating IAAH’s recognition as first runner-up in the Insurance-Canada Technology Awards (ICTA) Core Systems category. “The IAAH and EIS Group teams worked well together to accomplish some extraordinary goals.”

IAAH’s award submission was based on a core systems modernization effort which minimized business process and customer disruption and also provided IAAH with a digital platform for business growth. A key component of the project was a semi “Big Bang” approach to migration which successfully moved 1.8 million account and customer records and 300,000 existing policy headers to EIS OneSuiteTM for policy administration, billing, claims and customer management. This comprehensive project was accomplished via Lean and Agile project management approaches which allowed for an iterative process that drove good design, efficient implementation management and rapid testing of the new system across IAAH’s auto and home products.

The ICTA program recognizes significant achievements by Canadian insurance and reinsurance companies done in-house or with the assistance of technology vendor partners.  All categories are judged by a panel of leading industry analysts, experts, editors and association staff with an eye toward innovation, benefits realized, and positive impact on overall company operations.

“Industrial Alliance is an important customer-partner for EIS Group and we are very pleased their project has been recognized by the Canadian insurance industry as a standout example of what you can do with technology,” said Alec Miloslavsky, CEO and executive chairman for EIS Group.

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While most insurers support multichannel interactions, many portal and mobile capabilities remain siloed and fail to deliver a coherent customer experience. True omnichannel capabilities, as delivered by EIS Group through CustomerCore DXP, go beyond multichannel access to unify online, mobile and contact-center channels, and to connect those channels—in real time—with core insurance systems. These connected capabilities ensure a seamless customer experience and help nurture direct relationships between insurers and customers.

“The omnichannel concept is an evolution of multichannel operations and is a crucial capability for the digital insurer,” said Mark Breading, partner and chief research officer for SMA. “The omnichannel world seeks a single view of the customer, as well as brand consistency across channels and platforms. Omnichannel solutions need to allow insurers to design an environment in which channel switching is transparent and seamless to the customer. At the center of this approach would be a unified digital platform that would support all channels and connect the channels to the core administration systems on the back end. This would bring interactions and information together to produce a different and better customer experience that fosters loyalty.”

CustomerCore DXP enables insurers to leverage EIS Group’s core administration systems to deliver the highest level of customer service and engagement via online, mobile, email, text, chat or voice interactions. Through CustomerCore DXP, customers experience a seamless transition between preferred channels and devices while engaged in any purchasing, billing, policy servicing or claims transaction. Leveraging CustomerCore DXP, insurers can provide real-time integrated access to agents and brokers, leverage location-based services, and provide emergency or claims-related services. All stakeholders benefit from real-time access to any information regarding customer accounts, products and processes via tight integration with the EIS OneSuite software applications—PolicyCore™, ClaimCore™, BillingCore™ and CustomerCore.

“CustomerCore DXP delivers a true omnichannel experience via a seamless flow of activities and transactions between channels. At the same time, it preserves the business context and state of transactions with reliable security and privacy safeguards,” said Fazi Zand, EIS Group senior vice president, products. “Leveraging CustomerCore DXP, insurers can avoid the adverse impact that disconnected channels have on customer relationships and retention. Now insurers can rapidly implement digital strategies, dramatically improving user experience for customers and agents while controlling sales and servicing costs, and avoiding expensive, redundant integrations to separate portal and mobile solutions.”

Improved access and a greater level of transparency into the insurance process for all end users are enabled via CustomerCore DXP by these key technologies:

• New-generation REST APIs that quickly and efficiently expose core system data and processes.
• A prebuilt set of mobile apps for customer, agent and vendor self-service that are easily configured to meet insurers’ company-specific needs.
• Context-aware, responsive design features that allow customer interactions to flow seamlessly from one channel to another while adapting functions and content based on the user’s authorizations as well as device capabilities and constraints.

CustomerCore DXP is a member of EIS Group’s CustomerCore family of products, which offers customer and account management, customer service, communications, marketing and sales support, as well as customer analytics.

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“This release in particular delivers tremendous ease of use and automation capabilities for the group and worksite marketplace,” said Anthony Grosso, vice president of product marketing for EIS Group. “The depth of the pre-configured insurance product content available now through the EIS OneSuite underscores the value and leads the way into the future of packaged software for group and worksite insurers.”

The EIS OneSuite is a modern core administration solution that includes PolicyCore™, ClaimCore™, BillingCore™ and CustomerCore™ modules. Via this release, EIS Group has further enhanced the full policy lifecycle support available through the EIS OneSuite for insurers looking to create and take advantage of internal operational efficiencies. This release also includes support for list, self and direct bill, as well as a fully integrated, end-to-end claims process, spanning notification to payment.

This release focuses on additions to the EIS OneSuite pre-assembled product library for group and worksite benefits, a comprehensive collection of pre-configured insurance products that further increases speed-to-market and enables internal efficiencies for insurers. Version 6.2 also includes enhancements to critical functionality inherent to the EIS OneSuite, including:

• Census import and validation tool;
• Renewal and cancellation processing;
• Internal controls and regulatory compliance tools; and
• Integrated document generation.

To increase customer self-sufficiency, EIS OneSuite software also includes pre-built integration with an advanced, Excel-based rating tool that allows near real-time rate changes by business users. This tool creates efficiencies and accuracy within pricing of policies while helping to ensure compliance.

“The level of automation and efficiency that insurers can achieve through the EIS OneSuite is dramatically improved when users are able to use our pre-configured content as a platform for reducing product development cycles to rapidly respond to market changes,” said Grosso.

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“One of the primary drivers of core policy administration replacement for P&C insurers is the need to improve speed to market,” said Matthew Josefowicz, president and CEO of Novarica, a research and advisory firm focused on insurance technology strategy. “Systems with out-of-the-box content can be a key factor in delivering insurers a market advantage.”

EIS OneSuite, a modern core administration solution for policy administration, billing, claims and customer engagement, is designed to reduce the risk of a core system replacement by providing insurers out-of-the-box insurance processing capabilities with complete lifecycle transactional management. Via Pre-Configured Solution Packages, EIS OneSuite further leverages pre-assembled insurance products and modifiable, product definitions, related processes and interfaces to achieve rapid, efficient product deployments, improved operational efficiency through pre-built automation, greater ease of use, and simplified future software upgrades.

EIS OneSuite Version 6.2 features additional enhancements to improve processing accuracy and productivity, including:

• Optimized user experience;
• Greater configurability of billing rules;
• Improved single event/multiple claim management; and
• Enhanced commission strategy and plan management.

With this release, EIS Group also introduces plug-and-play reinsurance integrations. In Version 6.2, a new configurable interface allows reinsurance to be integrated directly into the underwriting process by supporting all the workflows required for open integration to external reinsurance software solutions. Benefits include reduced implementation timeframes and better risk management overall.

“Today’s insurers are faced with unprecedented levels of competition and customer expectations,” said Anthony Grosso, vice president of product marketing for EIS Group. “These dynamics are requiring core systems to be fully functional while also being flexible enough to support evolving business initiatives. Version 6.2 of the EIS OneSuite meets those requirements and marks an important step forward in the future of core administrative software where business users are empowered to advance strategic innovations for their companies.”

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State will deploy EIS OneSuite applications, PolicyCore™, BillingCore™, ClaimCore™ and CustomerCore™ as a new digital insurance platform for improved customer servicing and greater operational efficiency. State currently manages over a million policies for more than 460,000 customers.

State is undergoing a transformation from a distribution model that currently includes walk-in branches to an all-direct customer model for its personal and commercial lines of business. The company needed a solution to replace legacy software and manual processes, and one that removed barriers to customers adopting digital channels. It sought a proven, modern, flexible solution with built-in products and automated workflows, an integrated customer data model, and omni-channel capabilities for anywhere, anytime customer engagement.

“Insurance has become a 24/7 operation,” said Craig Olsen, executive general manager for State. “Our customers are rapidly embracing call center and online mechanisms to discuss their insurance needs, make claims and pay bills and State excels in servicing through these channels. Our selection of EIS OneSuite significantly enhances our ability to deliver a market-leading customer experience. It also enables innovation in product and underwriting operations, improved claims management and more cost-efficient back office and IT operations.”

EIS OneSuite will provide State several business benefits, including:

• An integrated, real-time view of customer information that improves customer service response and effectiveness;
• Seamless handoff between channels—such as online, mobile and call center—for all types of interactions;
• Faster speed-to-market for product and pricing changes;
• Automated underwriting capabilities that streamline new business and policy servicing processes;
• Business process management (BPM) that reduces process cycle-times and transaction costs;
• Optimized claims handling to speed claims settlement and decrease loss costs;
• Business intelligence (BI) and reporting that supports continuous business performance improvement; and
• Easy integration with real-time and predictive analytics capabilities to improve risk selection and pricing.

“We are honored to be the core systems provider behind State’s business transformation initiative,” said Alec Miloslavsky, CEO and executive chairman for EIS Group. “With EIS OneSuite, State will be equipped with the leading-edge technology needed to drive innovation in customer engagement, products and processes while reducing costs and increasing efficiency. We welcome State as a new EIS Group customer and look forward to working together to achieve their goals.”
For more information about this implementation, EIS Group or EIS OneSuite, please contact Kevin Haydon, marketing and communications manager for EIS Group, at +1.845.797.2976 or khaydon@eisgroup.com, or visit the company website at www.eisgroup.com.

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Founded in 1986, today Prestige is Japan’s largest roadside service provider. Prestige also provides claim adjudicating and management services for auto manufacturers offering extended warranties on new and used vehicles. In developing a business case for this technology initiative, the company cited low levels of automation, manual processes and legacy workarounds as causing an increase in the cost of providing claim adjudicating services for automobile extended warranty products in particular.

“While we were obviously looking for operational efficiencies, we knew this system modernization would also cut down on claim management costs for our auto manufacturer clients,” said Shinichi Tamagami, president and CEO of Prestige. “Automated adjudication has been a success for us so far. The new solutions integrate seamlessly with dealer systems, allow single sign-on for claim submissions, and are already reducing our operational cost.”

Prestige has deployed ClaimCore to a single auto manufacturer represented in Japan by over 400 dealers and more than 3,000 users. PolicyCore and CustomerCore have also been implemented successfully at Prestige to power behind the scenes workflows that support the outward-facing processes provided by ClaimCore. This modernization project also involved the deployment of a dealer portal. The modern, integrated technology behind the EIS OneSuite has ensured a quick adoption rate by Prestige staff, customers and partners, and speaks to the ease of use of the solutions.

“We are very pleased with the rapid success Prestige is experiencing,” said Rick Koo, SVP of product management for EIS Group. “We are looking forward to working with Prestige in the future as they take this model to other auto manufacturers and insurers in Japan.”

The EIS OneSuite is designed for, and deployed in, global markets, and seamlessly supports multi-language and multi-currency operations. The Prestige implementation and subsequent deployment marks the first localization of the EIS OneSuite in Japan.

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“Insurance companies trying to compete in today’s benefits market are facing more than just dramatic changes in distribution channels,” said Robert McIsaac, principal, Novarica. “New enrollment systems and processes, the transition from traditional group benefits to plan-member specific voluntary offerings, coupled with consumer demands for better product availability and pricing, means insurers need to address their core systems by introducing modern, open technology which will positively affect the product manufacturing and deployment cycle, create seamless interactions to the outside world, and bring all of the data back in to support operations.”

The EIS OneSuite 6.1 for Group and Voluntary Benefits provides a flexible administration platform for group, voluntary, and worksite benefits that can be deployed as an integrated suite or as standalone modules in the cloud or on-premise. Designed to seamlessly connect to multiple enrollment systems, the EIS OneSuite 6.1 is built on an open platform that allows maximum integration opportunities with exchanges, portals, mobile applications and call centers.

“We feel this release comes at a critical juncture for the benefits market,” said Anthony Grosso, vice president of product marketing and strategy for EIS Group. “The extended capabilities within this release will help insurers navigate the changing marketplace with an evergreen solution that addresses not only today’s challenges, but the continuing evolution necessary to handle tomorrow’s needs as well.”

Featuring a library of line-of-business (LOB) specific products and processes, the EIS OneSuite 6.1 also includes a full complement of configuration tools that can extend the solution without expensive development of custom code. Additionally, the EIS OneSuite 6.1 features capabilities which will help insurers improve top line results and lower operational costs, with functionality that includes:

• Recordkeeping from group to individual;
• Guarantee issue and individual underwriting;
• Library of pre-configured product accelerators;
• Single database with reuse of data from quote to claim;
• Ability to bill groups or individuals;
• Claims supported by world class workflow and rules; and
• Open technology built to connect with external systems.

“We are emboldened by the incredible response the EIS OneSuite has received so far from the industry,” said Grosso. “It is clear that success in this dynamic marketplace requires robust technology that supports both group and individual options, enables rapid development and deployment of new products when and where consumers want them, and drives the operational efficiencies needed to improve the bottom line.”

For more information about this release, EIS Group, or the EIS OneSuite for Group Benefits specifically, please visit the company website at www.eisgroup.com/benefits, or connect with EIS Group at the LIMRA Group Benefits and Worksite Conference at the Baltimore Marriott Waterfront in Baltimore, MD, September 3-5, 2014.

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“Reaching one million policies in force on our new policy administration and billing platform is a very significant accomplishment for CSAA Insurance Group and for EIS Group,” said Steve O’Connor, chief information officer for CSAA Insurance Group. “Replacement of our legacy policy systems in particular is a cornerstone of our technology modernization initiative, and a critical component of our overall business transformation strategy. It is enhancing our ability to provide customers with great products, exceptional service and competitive pricing at a lower operating cost.”

“From the beginning of the project, CSAA Insurance Group invested in best practices, change management, and top-notch leadership to mitigate the risks of this large project,” said Scott Hunt, general manager of policy administration system transformation for CSAA Insurance Group. “Consequently, we have been able to take full advantage of the new generation of business capabilities, advanced technology and scalability built into the EIS Group solutions. The conversion of policies from legacy systems to the new systems using the EIS Group conversion toolset has also been a critical success.”

CSAA Insurance Group’s technology modernization initiative includes replacement of multiple legacy core systems and the installation of a scalable framework for large volume growth. EIS Group’s PolicyCore and BillingCore solutions, were deployed in an enterprise package which includes rating, underwriting, policy administration, billing, operational analytics and reporting, customer relationship management, BPM, document generation, and content management.

“Hitting the million-plus policy milestone does not happen without sound technology and provider partner choices,” said Karen Pauli, CEB TowerGroup. “This achievement places CSAA Insurance in a select group of successful replacement projects running on modern core systems which benefit customers and the employees who service them.”

“We congratulate CSAA Insurance Group on achieving this major milestone and are proud to partner in their success,” said Alec Miloslavsky, executive chairman and CEO for EIS Group. “The project has been deeply collaborative and productive and we look forward to helping them complete the retirement of all their legacy policy and billing systems to gain the full benefit of one multi-line platform.”

For more insight into the success of CSAA Insurance Group’s technology modernization initiative, join Karen Pauli of CEB TowerGroup and Scott Hunt of CSAA Insurance Group for a special webinar on September 10. Registration information is available here.

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Mr. Reffitt currently chairs the IASA Social Media Subcommittee, a part of the Marketing and Communications Committee. He began as a volunteer with IASA in September 2012 and was appointed to lead IASA’s social media efforts in May 2013. Over his first year in that role, IASA grew its Twitter followers by over 100%, launched corporate LinkedIn and Instagram sites, and created a formal social media policy and process that enables IASA Chapters across the U.S. to directly leverage the power of the IASA’s social media feeds. He also participates in IASA’s Solution Provider Enrichment Committee.

Each year, IASA honors a new volunteer who stands apart in demonstrating a commitment to furthering IASA’s goals. Mr. Reffitt was formally recognized for his volunteer efforts at the 2014 IASA Educational Conference and Business Show in Indianapolis in June.

“Thanks to his contributions, we have worked social media into every aspect of IASA,” said Chuck Gunkel, vice president of volunteer development for IASA. “IASA’s presence on outlets such as Facebook, Twitter, Instagram and Google+ has grown substantially thanks in large part to Darin’s work as an IASA volunteer.”

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The award recognizes how an individual positions the role of CIO strategically within the company and is given to individuals who show leadership, innovation and foresight in their contribution to ICT and business. The New Zealand CIO Awards are held in conjunction with the annual CIO Summit, now in its eighth year, and judges are comprised of a committee of peers.

In making the award to Angland, the judges commented: “Following several major acquisitions and the significant impact of the Christchurch earthquake, the ICT challenge within IAG has been significant. Kevin has clearly brought a business focus to the role of CIO and has ensured that the ICT team has the culture and focus to deliver on the outcomes the IAG business requires.”

“The EIS Group team offers warm congratulations to Kevin on his well-deserved CIO of the Year honors,” said Alec Miloslavsky, executive chairman and CEO, EIS Group. “Kevin is a talented leader and visionary who has successfully led his IT team through the integration and modernization of core IT systems that resulted in greater business efficiency and growth. We have been fortunate to work with Kevin on IAG’s core systems replacement program and look forward to supporting the continued success of this initiative.”

IAG deployed the EIS OneSuite™ for policy administration, billing and claims management in September, 2013 for its AMI subsidiary’s general insurance business.

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Alec Miloslavsky, executive chairman and CEO, EIS Group, explains the new branding, “Over the last year, we have grown significantly and evolved as a company. We remain dedicated to the insurance industry and we wanted a brand that was a stronger depiction of who we have become as a company. We are committed to delivering systems that integrate superior technical capabilities with rich insurance functionality and offer platform sustainability. This commitment, embodied in the design of our new logo, helps ensure our customers are empowered to innovate for their policy holders now and into the future.”

Simultaneous with the launch of the new corporate brand, EIS Group also introduced the framework for the company’s development philosophy—Evergreen EngineeringSM. EIS Evergreen Engineering is a methodology and set of underlying principles designed to develop insurance core systems that can be installed today and remain current and relevant to the needs of the insurance market for the long term. This enables insurers to innovate in business model, product, channel and customer while maintaining continuity with their existing business.

Chuck Johnston, the company’s chief marketing officer, provided details on the approach, “Evergreen Engineering is based on a set of principles that include designing for a long system lifespan, maintaining a modern technology roadmap tied to enhancing general business capabilities, leveraging the power of the package in delivery and constantly working to reduce upgrade friction to ensure customers can readily take upgrades. Following this approach ensures our customers can run multiple business lines and multiple channels on the same system, easily run a million policies in the same image, share integrated customer data across lines of business, deploy on premise or in the cloud, and meet the needs of the global market.”

In the last year, EIS Group launched a product offering for the group and voluntary benefits market and doubled in size through the addition of new software development and services resources. The company also increased presence in Japan, Asia-Pacific and Latin America, opened an office in Sao Paulo, Brazil, and added development centers in China and Eastern Europe. EIS Group now provides insurers in six countries with the EIS OneSuite™ of solutions for policy administration, billing, claims and customer management.

EIS Group is exhibiting at the IASA event and has several company representatives in attendance. For additional information on solutions from EIS Group, visit booth #1212 at the IASA show or visit the company website at www.eisgroup.com.

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“Adding mobile capabilities to the EIS OneSuite enables our insurer customers to offer superior services, enhance customer satisfaction, reduce customer service and claims costs, streamline core processes and establish a direct communication channel with their customers,” said Siamak Sartipi, product executive for EIS Group. “During development of our mobility solutions, we established a future-proof platform which is ready for next-gen consumer technologies that could even include wearables.”

The new EIS Mobile Field Adjuster App enhances productivity and automates claim processes by enabling the field adjusters to:

• Manage daily tasks (times, locations, parties, etc.);
• Receive assigned tasks or picking from task queues;
• Attach photos, videos, voice notes and other documents to a task;
• Send automated reports back to the claim office.

The new EIS Mobile Self-Service App empowers policyholders to manage insurance activities specific to home and auto lines of business when, where and how they choose through:

• Context-based design for exceptional prioritization and user experience;
• First notice of loss (FNOL) capabilities;
• Personalized core administration, including My Claims, My Policies, and My Billing;
• Insurance ID display and share;
• Identification of nearby agencies.

The new mobile apps from EIS Group are fully-configurable by insurers, allowing complete white-labeling.

Future planned releases will further build on this new mobile platform to offer a true omni-channel insurance experience across the value chain and advanced features leveraging location-based services and push notifications. Scalable and secure, the EIS OneSuite now provides greater access for field personnel and end users to basic insurance processes, and introduces a new level of transparency into the insurance process for all stakeholders.

EIS Group is exhibiting and featuring the new mobility capabilities at the IASA event and has several company representatives in attendance. For additional information on solutions from EIS Group, visit booth #1212 at the IASA show or visit the company website at www.eisgroup.com.

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Industrial Alliance deployed Exigen OneSuite as the cornerstone of a technology transformation focused on quickly developing and introducing new products to its expanding distribution network and implementing multi-channel customer service. The company also wanted to simplify its operational processes and IT architecture and decrease operational costs.

“To accomplish a legacy system replacement of this size in just two years is an outstanding achievement,” said Industrial Alliance (IAAH) vice-president and project sponsor Sophie Duval. “The keys to success have been the comprehensive business capabilities and flexible design of Exigen OneSuite and the dedication of the implementation team. We are seeing significant benefits in terms of product agility in a very competitive market, staff and agent productivity and effectiveness, and superior customer service. We believe our selection and deployment of Exigen OneSuite positions us well for immediate growth and for future opportunities as customer needs and market conditions change.”

The new platform is currently in production for new business for nine auto and six home insurance products. Additional personal lines roll-outs will follow. In addition, 1.8 million account and customer records and 300k policy headers were migrated to the new system to allow for easy conversion of existing policy holders upon policy renewal. The conversion of the large number of customer records enables Industrial Alliance (IAAH) to effectively manage customer information and communications for both new and existing customers within one system using Exigen OneSuite’s CustomerCore solution for customer relationship and communications management.

“We are very pleased with the results of our new core systems roll-out,” said Pascal Lavoie, chief technology officer, Industrial Alliance (IAAH). “Our existing OS 400 legacy system was not capable of supporting current and future business needs, such as a multi-channel customer experience. Exigen OneSuite’s customer-centric design and the modern, highly-configurable and flexible architecture are key benefits. The workflow, work management and integrated nature of the end-to-end system deliver significant efficiency. The platform has already proven very resilient to taking software upgrades and great care was taken in the implementation to optimize it for self-sufficiency with an eye to lowering cost of ownership.”

User experience and reaction has been very positive. According to Stéphanie Séguin, the first IAAH P&C agent to sell a policy on the system, “It is easy to follow and use. It is very intuitive and fun; I think we finally arrived in the 21st century with this system. This is a plus for agents, for new employees coming into the business and for the company.”

“We congratulate Industrial Alliance for this successful roll-out. Throughout the project we have admired and been pleased to support its dedication to improving insurance operations through technology modernization that puts the customer first,” said Alec Miloslavsky, executive chairman and CEO, EIS. “We look forward to continuing to support Industrial Alliance’s goal of achieving business control of their core systems platform and effectively managing it as a multi-line platform for growth.”

The post Industrial Alliance Auto and Home Deploys Exigen Policy Administration, Billing, Claims and Customer Management Solutions appeared first on EIS.

EIS provides core processing solutions for policy administration, billing, claims management and customer management that help insurers grow their business and increase operational efficiency. The company’s solutions have been adopted by companies of all sizes, across multiple lines of business, in six countries. EIS has large development centers in Eastern Europe, China and the U.S. The company brings global insurance industry experience and a track record of successful implementations to each project and works in close collaboration with customers for success.

Viriato Leao joins EIS to manage operations and lead business development in the Latin America region. Leao has over 25 years of experience in the financial services and insurance industries. Prior to joining EIS, he was responsible for sales and business development in Latin America at eBaoTech, and previously served as International CIO at Assurant Solutions, and as chief architect and CIO for Latin America at Citibank.

“EIS has based its business on providing technically-advanced and flexible core systems that meet the present and future needs of general insurers and group and voluntary benefits insurers in several global markets,” said Alec Miloslavsky, executive chairman and CEO for EIS. “Our increased presence in Latin America and Brazil, in particular, under the experienced leadership of Viriato Leao, will enable us to more directly serve the needs of this growing regional marketplace.”
“I am pleased to have this opportunity to bring EIS solutions to the Latin American markets,” said Viriato Leao. “The end-to-end capabilities of the EIS OneSuite and various deployment options, including cloud, will help insurers respond more effectively to the competitive environment and to develop efficient distribution alternatives. I look forward to working with, and assisting, insurers in the region to meet their business challenges.”

The post Exigen Insurance Solutions Opens Sao Paulo Office to Better Serve Latin American Insurance Market appeared first on EIS.

The EIS OneSuite of insurance core systems software components provides insurers a comprehensive set of end-to-end solutions for legacy replacement. While EIS OneSuite is designed for interchangeable deployment in both on-premise and software-as-a service environments, customers benefit from software-as-a-service deployments by reducing their IT footprint, operational risk and time to market. Core functionality includes underwriting, rating, policy administration, billing, claims and customer and distribution management with optional document management and business reporting and analytics capabilities.
“EIS is among the very first providers of insurance core systems as software-as-a-service and for that reason is excited to announce that the EIS OneSuite is fully tested and enabled for deployment on IBM’s PureApplication Service on SoftLayer infrastructure-as-a-service, and is available via the IBM Cloud marketplace,” said Andrew deGroot, senior vice president global business development and alliances, EIS. “This neatly-woven combination of cloud optimized applications, platform and infrastructure is good news to mid-market insurers that are trying to manage IT costs and operations yet gain quick access to the best core systems capabilities to compete with larger more resource-rich insurers.”

The IBM Cloud marketplace offers clients access to more than 100 SaaS applications, IBM’s Bluemix platform-as-a-service with its suite of composable services, the powerful SoftLayer infrastructure-as-a-service and IBM’s rich intellectual capital and deep industry expertise. This single online destination with a suite of cloud services delivers a new buying experience for clients that enables line of business professionals to deploy new services faster; allows developers to build them with greater speed; and offers IT departments more creative, efficient and lower-cost ways to deliver these services.
To learn more about leveraging EIS OneSuite in the IBM Cloud marketplace and to get started, visit http://ibm.com/cloud.

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Chuck Johnston joins EIS from analyst firm Celent, where he served as research director, focused on insurance technology and business strategies, specializing in life insurance and group. He brings more than 25 years of expertise in insurance and information technology to the role of managing marketing and product at EIS. Prior to joining Celent, he held several roles at Oracle Insurance including vice president of Global Insurance Strategy and Solutions. He previously served in senior management roles focusing on go to market strategy and execution at Siebel and Callidus software. Prior to this, he was vice president and director of Insurance Information Strategies at META Group. Johnston also has held technology and business leadership positions at Phoenix Home Life Mutual Insurance.

Mary Anne Gillespie comes to EIS with over 30 years of multichannel customer engagement experience. She executed successful sales strategies and market growth in national and global territories for companies from start-up to $20 billion in revenue across a broad range of industries, including insurance technology. She previously served as executive vice president at TAS Group and vice president of Merchant Sales at PayPal. Prior to this, she was vice president of sales at Guidewire Software. Earlier, she worked in several roles at Oracle leading to senior vice president of Sales.

“The introduction of EIS OneSuite for Employee Benefits, built on top of the EIS OneSuite™, our end-to-end platform for multiple lines of insurance, has generated strong interest and demand for the solution in the group and voluntary markets and underscores the value customers find in the EIS OneSuite for Property & Casualty insurance,” said Alec Miloslavsky, CEO and executive chairman, EIS. “These key appointments of two highly experienced executives strengthen our executive team and equip us with great leadership to steer marketing, product and sales during this time of growth for the company.”

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“What EIS brings is a very comprehensive solution that allows us to undertake a full transformation of the way we do business,” says IAAH vice president, risk management, Sophie Duval. “Our customers will appreciate being able to conduct business with us in French and English via any channel in real time, be it phone, email or online self-service. Our staff will appreciate the end-to-end automation of everyday business processes that will save them time and reduce our operational costs. We see EIS’ pre-integrated policy, billing and claims solution as an opportunity to raise productivity and efficiency levels simultaneously across the enterprise.”

“This is a large systems implementation that is on track to deliver some significant increase of IT efficiency,” said Pascal Lavoie, chief technology officer, IAAH. “The configurability and flexibility of the EIS system will provide us greater self-sufficiency than usually found on comparable systems. We have a very talented IT and business operations staff, and we want to be able to benefit from their ability to directly upgrade, develop and manage products and processes without always turning to a solution vendor’s support staff. In addition, the EIS system replaces an aging legacy OS 400 system that is difficult and time-consuming to modify for new products or processes.”

Industrial Alliance will roll out both home and auto products for new business initially. Simultaneously, three million account and customer records, policy headers and recent quotes for both home and auto will be migrated to the new system. Industrial Alliance will be able to manage marketing communications to the large contact database using Exigen OneSuite’s new integrated CustomerCore™ module for customer relationship and communications management.
Exigen OneSuite will provide Industrial Alliance several business benefits, including:

• An integrated view of customer information across its core operations that improves customer service response and effectiveness
• A highly configurable tool to accelerate product development
• Self-service portals for customers and for agents
• On demand multi-lingual engagement of customers
• Automated underwriting capabilities that streamline new business and policy servicing processes
• An optimized claims handling system that eliminates many manual processes so that staff can focus on serving customers
• Business intelligence and monitoring tools that track all system activity to provide business performance benchmarking, reporting, dashboards and activity-based costing

“Helping Industrial Alliance with their transformation initiative is an exciting opportunity that has motivated both the EIS and Industrial Alliance teams in a strong and productive partnership,” said Alec Miloslavsky, CEO and executive chairman, EIS. “When we have completed implementation, Industrial Alliance will achieve their goal of gaining unsurpassed business control of their core systems and effectively managing it as a multi-line platform for growth.”

The post Industrial Alliance Auto and Home Readies for Roll-out of Exigen Policy Administration, Billing and Claims Solutions in 2014 appeared first on EIS.

The flagship product of EIS is the Exigen OneSuite™, which provides insurance companies end-to-end core processing for policy administration, billing, and claims management, along with tools and management options supporting business changes. The company’s solutions are easy and quick to implement and assimilate, and can be expanded to suit changing organizational needs.

Under the agreement, Matrix will be responsible for marketing and distributing the solutions to insurance companies in Israel, and for supplying assimilation services, professional consultation, support, and service.

According to Jonatan Rosenthal, department manager in the software products division at Matrix, “the solutions offered by Exigen Insurance Solutions are an excellent response to the needs and challenges of companies involved in the world of insurance, providing solutions that are flexible and quick to implement, and enabling them to cope successfully with the dynamic nature of the market and the demands of regulation. At the same time they offer the possibility of creating a unique user experience and implementing client-focused systems, through which it is possible to increase the profit line and revenues of the organization, while also achieving operational and business efficiency.”

Rosenthal added that “the combination of solutions from Exigen Insurance Solutions and the know-how, abilities and experience of Matrix, including its familiarity with the market and the needs of the insurance companies in Israel, are significantly good news for companies in the field.”

“We are very pleased to enter into an agreement with Matrix to provide both sales and delivery capabilities in Israel,” said Andrew DeGroot, senior vice president for global business development and alliances at EIS. “Ensuring the success of each customer implementation is the top priority for us at EIS. Therefore the regional and industry expertise Matrix brings to the partnership will allow us to both offer exceptional service and grow our business in a vibrant market.”

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“We are very pleased with the results of the roll-out of our auto product. The new system streamlines operations and removes manual processes, particularly in claims servicing. Platform performance and reliability has been flawless also,” said Allan Dornan, COO of IAG. “Modernization of our core enterprise systems is vital to achieving the high levels of service we promise our customers. The new platform will enable AMI to quickly and cost-efficiently introduce new products and provide a better customer experience that makes it easier for customers to interact with us using the channels they prefer.”

AMI launched 23 classes of motor insurance on the Exigen platform, including private vehicle, commercial vehicle, motorcycle, motorhome and caravan. The modernization project required replacement of in-house built legacy core systems and the installation of a modern framework. The Exigen OneSuite component solutions – PolicyCore™, BillingCore™ and ClaimCore – were deployed in an enterprise package that also includes product development, distribution management, rating, underwriting, business intelligence and reporting, customer relationship management, business process management (BPM), document generation, and content management.

“Our existing legacy system, built 30 years ago, has become cost prohibitive to maintain and is not capable of supporting current and future business needs, such as a multi-channel customer experience that includes online and mobile self-service,” said Dornan. “Exigen has been a strong partner through a project heavily impacted by the Christchurch earthquake, where AMI was headquartered, and the subsequent sale of AMI to IAG and regulatory overhaul of property insurance in New Zealand.”

“The key features of the Exigen system driving benefit for us are the customer-centric design and the modern, highly-configurable and flexible architecture,” added Dornan. “Configurability allows us to bring new offerings to the market more quickly. The workflow, work management and integrated nature of the system deliver significant efficiency. In addition, the use of quality, inexpensive commodity hardware versus older proprietary mainframe technology is a substantial cost benefit.”

“For the Exigen team there is special satisfaction in seeing AMI successfully launch its new core systems platform. It is testimony to the resilience and determination of AMI staff and leadership to prevail in the wake of a devastating natural disaster. It is an inspiration to us,” said Alec Miloslavsky, executive chairman and CEO of Exigen. “We are looking forward to helping AMI continue its modernization and strengthen its position as a leading brand.”

The post IAG Deploys Exigen Insurance Solutions for Policy Administration, Billing and Claims at AMI Insurance appeared first on EIS.

“The Exigen Pre-configured Solution Package is attractive software that gives several upfront advantages and some long-term benefits,” said Steve O’Connor, chief information officer for the Insurance Group. “We expect it to reduce the typical time it takes us to introduce individual state property insurance products and we plan to adapt it using in-house resources to meet the needs of the insurance company’s partners. Also, we anticipate a fast upgrade path for the product with a process we will be able to manage internally.”

Exigen Pre-configured Solution Package comes with a high degree of pre-configuration of product, processes and interfaces out-of-the-box. The key benefit for insurers is the large reduction in solution customization requirements that results in rapid and efficient product deployments and solution version upgrades. CSAA Insurance Group provides AAA-branded property lines insurance to more than 17 million AAA members in the 23 states served by the insurance company. CSAA Insurance Group has already implemented and is rolling out auto products for its partner states on the Exigen core systems platform.

“We are excited that CSAA Insurance Group has selected Exigen for its property lines business in addition to its ongoing auto lines roll-out,” said Alec Miloslavsky, executive chairman and CEO, Exigen Insurance Solutions. “As the first customer of our pre-configured property solution, we look forward to helping them quickly enhance and grow their property lines operations.”

The post Exigen Ships Pre-configured Property Insurance Solution to CSAA Insurance Group appeared first on EIS.

“Insurers in the Caribbean and globally are seeking much more than process improvement or productivity enhancement when they launch large technology uplifts today. They are transforming their organizations from end to end to become exponentially more agile and customer-centric,” said Lee Fogle, SVP, global sales, Exigen Insurance Solutions. “This means developing more new products, launching these innovations quickly, developing intricate pricing strategies and delivering consistent, excellent service across a wide range of channels and touch points. This is where Exigen comes in, with a solution that combines powerful core processing and business optimization software pre-integrated with a cloud-based platform.”

“Caribbean insurers have special requirements when considering replacing their core systems. They need flexible systems that support a wide variety of products operating on a single platform that delivers 24/7 support,” said Michael Armstrong, CEO of ILLUMINAT (Barbados) Limited. “Many systems in use today were designed for a pre-Internet era. They simply do not have the configurability, flexibility or capabilities to keep pace with modern market demands. Exigen OneSuite delivers world-class, flexible core systems and ILLUMINAT provides the regional system implementation expertise. We look forward to helping our Caribbean clients take advantage of this robust solution.”

Caribbean insurers also require strong reinsurance capability, which is handled in Exigen OneSuite through a powerful integrated partner component.
The Exigen OneSuite™ trio of components – comprised of PolicyCore™, BillingCore™ and ClaimCore™ – handles all core operations for general insurers. Unlike many competitive offerings, however, the Exigen OneSuite also includes all of the other capabilities general insurers need to manage and optimize operations, including workflow and business process management, document generation, content management, business analytics and CRM. It is offered in multiple deployment options, including on-site, hosted or Software-as-a-Service (SaaS). This makes the suite ideal for deployment on IBM PureSystems, a family of expert integrated systems that redefine how enterprise-level IT solutions are designed and implemented.

IBM PureSystems are built for the cloud, and “scale in” with integrated provisioning, elasticity and virtualization that improves efficiency and reduces costs. Exigen Insurance Solutions is a member of IBM PartnerWorld, additionally ILLUMINAT is an advanced member of IBM PartnerWorld and authorized reseller of IBM hardware and software including the PureSystems platform.

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Exigen Pre-Configured Solution Packages reduce core system replacement risks for insurers, and are designed to generate up to 50 percent savings in time and 40 percent savings in average costs. Exigen Pre-Configured Solution Packages use the extensive configuration capabilities of the Exigen OneSuite™ multi-line platform for policy administration, billing and claims management to reduce the technology and business risks associated with core systems replacement.
“The history of core systems replacement for insurers tells us that a decision to acquire a software package can be a risky proposition,” said Alec Miloslavsky, executive chairman and CEO, Exigen Insurance Solutions. “Only 20 percent of projects deliver on time and within budget. This is largely because many projects are still heavily reliant on software code customization to deliver promised functionality, as opposed to rich, underlying base code supported by extensive configuration capabilities. Insurers can run their companies on what we provide in our base pre-configured solutions.”

This new offering from Exigen provides insurers a system with the highest level of implementability and upgradeability. Insurers need only determine minimal changes to the working Pre-configured Solution Package to tailor the system to their specific situation, or adopt the pre-configured option as is. This significantly reduces the typical cost, time and risk of deployment of a traditional systems replacement. Typical upgrades can be accomplished in two months, and can even be performed during the implementation itself.

“Future system upgrades following initial implementation can be extremely difficult, often taking six to 18 months, and sometimes costing amounts that look more like initial implementation than an upgrade,” said Miloslavsky. “This has resulted in many companies being several versions behind the most current version of the vendor’s software. Exigen Pre-Configured Solution Packages lay these concerns to rest for insurers.”

“Carriers looking at new systems often focus on the extent of functionality available out of the box. But just as important as those lines of business and functionality already built within the system is the relative ease with which additional capabilities can be added,” said Karlyn Carnahan, principal at Novarica. “Carriers looking for speed to market look for pre-configured solutions and look for easily configurable rules, workflows, roles, pages, and forms.”
Implementing Exigen’s Pre-Configured Solution Packages allows insurers to manage the functionality, implementation, upgrade, cost of ownership and vendor risks characteristic of most package software implementations.

Initially, Exigen’s Pre-Configured Solution Packages are available for personal lines auto, home, dwelling property, and umbrella, and provide delivery of an out-of-the-box, fully functioning insurance processing system with complete lifecycle transactional capability. The design and underlying assumptions inherent to Exigen’s Pre-Configured Package Solutions are based on “best of breed” characteristics from Exigen client implementations and industry best practices. The package is offered with a Software-as-a-Service (SaaS) option, and portal/self-service capability, plus a built-in Interface Factory component providing pre-built integrations to standard data and third-party sources to accelerate initial system integrations and upgrades.

The post Exigen’s New Pre-configured Solutions Reduce Risk and Cost of Insurance Core Systems Replacements appeared first on EIS.

CustomerCore™ is a comprehensive, insurance-specific customer relationship management (CRM) system with multi-channel integrated customer communication management (CCM). Its customer-centric design provides an optimal user experience with role-based interfaces for all types of interactions including self-service, such as Web and mobile applications, and contact center.

“CustomerCore sets the bar for insurance core systems packages,” said Fazi Zand, SVP, Products, CustomerCore and Commercial Lines, Exigen Insurance Solutions. “No end-to-end suite solution in the market today has the pre-integrated CRM and CCM capabilities that are now inherent to Exigen OneSuite. Insurers must typically integrate with separate off-the-shelf CRM packages at significant additional cost and implementation risks.”

CustomerCore™ enables insurers to:

• Manage sales leads and opportunities throughout the customer lifecycle;
• Maintain customer profiles of products and opportunities, contacts and relationships, and complete transactions history;
• Design and perform effective sales and marketing campaigns;
• Offer integrated customer service and communications across all channels and interactions; and
• Leverage comprehensive CRM analytics and customer value optimization tools.

According to Celent senior analyst Mike Fitzgerald, “When we ask insurance consumers what is important to them, ease and speed always rank high on the list. Traditionally, however, insurance administration systems are separated from customer management solutions, resulting in duplication of data, inaccuracy and delays. Combining these functions can increase coordination and reduce handoffs. As insurers increasingly compete based on consistent delivery of an innovative customer experience, tight integration will be required for success.”
The key benefits to insurers are:

• Increases customer affinity and mutual value of the relationship;
• Measurable improvement in the quality of the book of business and business performance;
• Reduces operational cost and complexity; and
• Increases sales effectiveness by recommending best fit products for new business and upsell.

The advantages of CustomerCore™ are derived from its ability to integrate fully with insurance core systems (including legacy and 3rd party systems) and extend insurance processes to multiple distribution networks and through multiple channels to support person-to-person, correspondence-based, and self-service modes of interaction. The system is context aware and adaptive, so the current state of a customer interaction flows seamlessly from one channel to another – as any policy, billing, claims or sales and service interaction progresses – while repurposing content and functions based on the user’s device capabilities and constraints. CustomerCore™ also provides complete virtualization of contact center operations, facilitating centralized operations management while allowing sales, service and claims representatives to work anywhere, anytime via the Internet.

“Commoditization and competition have put the focus on customer service and retention as key differentiators,” added Zand. “CustomerCore provides insurers the flexibility to refine customer experience in a holistic way in order to acquire loyal customers, and drive top-line results.”

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“As the group and voluntary insurance markets converge, changing distribution and service models will strain IT application architectures and legacy systems past the breaking point,” said Chuck Johnston, director, Americas Life/Annuity & Group Practice with Celent’s Insurance Group. “Insurers and brokers have underinvested in group and voluntary insurance solutions over the last 20-plus years, and will struggle to meet new market requirements. Celent believes that compelling new solution offerings in the group administration space will come from property & casualty (P&C) vendors leveraging their multi-coverage, multiple insurance object models to meet the unique needs of this market.”

Exigen OneSuite for Group Benefits provides insurers with a technology response to the business, regulatory and social drivers that are reshaping the Group Benefits market. The Exigen OneSuite offers plan management for group and worksite products – life, disability, accident and health, and medical – that accommodates all classes of participant and all billing options from non-contributory to voluntary. The solution provides insurers with unparalleled flexibility to manage product offerings and distribution across a wide spectrum of the market. Through the built-in customer relationship management (CRM) module insurers, worksite sponsor companies and brokers get a full on-line account view of customers. The solution also meets the growing demand by plan participants to view and manage their products online and on mobile devices.

“As a modern, configurable system based on open standards, Exigen brings a new option into an underserved market,” said Chad Hersh, managing director in the insurance practice at Novarica. “Few systems adequately address the unique needs of the group benefits space, including the robust flexibility and scale requirements. Market forces demand greater investment in technology as insurers seek to build more effective channels that market to employees directly, while dealing with the convergence of traditional group and voluntary insurance and customer desire for greater control over their benefits.”
Key features of Exigen OneSuite for Group Benefits include:

• A single multi-line platform for group and worksite insurance that reduces cost and provides greater control of distribution;
• A single view of the customer to improve service and increase cross-sell opportunities;
• Simplified eligibility and enrollment that saves time and increases accuracy;
• Flexible billing as a strategy to improve customer relationships; and
• Full real-time self-service for participants, brokers and sponsors.

“To date, Exigen has worked hard to provide P&C insurers of all sizes with a reliable and risk-managed path to achieve business transformation to future-readiness,” said Alec Miloslavsky, executive chairman and CEO of Exigen Insurance Solutions. “However, insurers in the group benefits market have been underserved by technology. Vendors have lagged in their ability to bring forth the newest and best technology. Exigen OneSuite for Group Benefits changes that by offering the first multi-line, end-to-end, core systems solution on a modern platform that is cloud and mobile enabled.”

“By consolidating disparate line of business systems into one and leveraging the ultra-configurability of Exigen OneSuite, we expect insurers to reduce operation and IT costs by more than 30 percent and to grow by controlling more of the value chain and being able to more quickly enter markets,” said Adam Denninger, SVP, Commercial Markets, Exigen Insurance Solutions.

The post Exigen Insurance Solutions Introduces Core Systems OneSuite for Group Benefits Insurers appeared first on EIS.

deGroot is responsible for the ongoing expansion of Exigen’s worldwide partner network, and for identifying, managing and maximizing the company’s alliances and growth opportunities. He brings more than 20 years of experience in business development helping companies successfully introduce their solutions to new markets, including EMEA, Asia-Pacific, and North America.

deGroot’s expertise covers core insurance systems, big data solutions, data warehousing, business intelligence and decision support solutions and other core applications critical to driving corporate results. He comes to Exigen from InfoTrellis, where he served as VP Sales, Marketing and Alliances. Before that he was with Symbility Solutions as head of sales and marketing. Previously, deGroot was General Manager, Canada for Guidewire.

“Andrew is a valuable addition to our leadership team who comes to us at a time when demand both in the US and globally for our solutions is growing rapidly,” said Gwen Spertell, president, Exigen Insurance Solutions. “Andrew is the right person to guide this market expansion and shepherd the partnerships that will help us to consistently deliver world-class product to customers worldwide.”

”With the pace of insurance core systems replacement quickening worldwide, open, scalable multi-line platforms are highly sought after,” commented deGroot. “Exigen is strategically positioned with pre-configured solutions and experienced resources and partners to execute the rapid business transformations insurers now need to compete.”

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Fogle has sales responsibility for the company’s enterprise solutions, including PolicyCore™, BillingCore™ and ClaimCore™, and software-as-a-service offerings worldwide. He brings 30 years of financial services IT executive experience to his role and a track record of building high performing sales organizations in both large and small companies.

Prior to serving as vice president at CSC leading the North America sales organization for P&C insurance, Fogle was senior vice president at Duck Creek Technologies managing its sales, marketing and consulting operations. Previously, he spent six years as COO of ISO’s Claims Outcome Division leading it to the dominant position in its market space. He also held sales and management positions with Policy Management Systems Corp. and was vice president of its claims products division.

“Lee is an industry veteran with the broad insight and market experience needed to lead our sales team and spearhead our market expansion,” said Gwen Spertell, president, Exigen Insurance Solutions. “He is keenly aware of what insurers need from their core system technology to grow their businesses and will make a major contribution to the success of our solutions and our customers.”

“The property and casualty insurance market is in the throes of an unparalleled modernization period and the Exigen core solutions are uniquely designed and packaged to enable insurers to succeed in their legacy transformations,” commented Fogle. “With so much market opportunity and capital riding on transformation initiatives the right system choice and the best implementation execution is essential.”

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The Insurance Exchange implemented Exigen’s PolicyCore™ and BillingCore™ solutions for its California auto business as the first phase of a larger replacement and integration project involving six legacy PAS and three legacy billing systems used by the Insurance Exchange. The Insurance Exchange offers personal lines insurance to AAA members through partnerships with AAA clubs in 23 states and Washington, DC. Nearly one million auto policy holders and 1.7 million cars in California alone are insured by the Insurance Exchange.

According to Celent’s Model Insurer 2013 report, the Insurance Exchange was chosen “for the best practices related to improved change and channel management, higher productivity and lower staff expenses, and use of standards for integration with other systems.”

“Recognition goes to leadership who identified the significance of targeted investments to enable agility and efficiency in our business by reducing complexity in our systems. Recognition also goes to those who so effectively executed the implementation by leveraging Exigen pre-configured solution packages and closely aligning business processes to standardized integration services. This allows us to rapidly add new channels and new products and services at reduced cost,” said Kim Bissell, AAA Northern California, Nevada & Utah Insurance Exchange, IT Director.

The Insurance Exchange utilized a Change Management Office and Program to ensure that the 80% of the organization affected by the introduction of the new policy administration system would receive complete, accurate and balanced information about the changes. It established a strong change champion and support network consisting of managers and supervisors, super users, support processes and tools. This included the creation of a model office/demo/training environment to allow users the opportunity to get a feel for how the new system would work.

“Working closely with our user community allowed for an excellent user adoption rate and a solid, repeatable pattern for further state product roll-outs,” commented Tracy Tillinghast, AAA Northern California, Nevada & Utah Insurance Exchange, PAS Business Owner.

The system roll-out experience exceeded expectations, says the report. Benefits include:

• A high user adoption rate at implementation of 60%.
• More than 2,500 staff members gained browser-based access with more than 1,000 staff using the system to quote, bind, and manage California auto policies.
• Policies on the new PAS can be sold about 33% faster than with the old system.
• Training new staff members is quicker because sales and service workflows and screens are the same.
• Real-time policy servicing is quicker and more accurate because there is a single view of the customer with cleaner and more recent data.

Other benefits include increased productivity with a single sign-on, comprehensive customer searches, pre-population of data in applications, and enhanced document management and servicing functionality.

“The story of how the Insurance Exchange applied a comprehensive change management approach to its core systems modernization with Exigen’s PolicyCore and BillingCore is a real world example of the effective usage of technology,” said Karen Monks, Celent analyst and author of the report.

“We congratulate the Insurance Exchange on this prestigious industry acknowledgment,” said Gwen Spertell, president, Exigen Insurance Solutions. “Their legacy modernization program is well thought out and has benefited from best practices throughout. It has been a great pleasure to be able to support the Exchange’s quest to deliver first-class customer service from an efficient and agile multi-line platform delivering pre-configured products.”

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“NBIC adopted a leading-edge approach to its core systems transformation and we are very pleased that its success has achieved high recognition in the industry,” said Gwen Spertell, president, Exigen Insurance Solutions. “They have led the way in demonstrating that modern core systems based in the cloud can provide a rapid-start platform for growth that easily connects to and serves agents, customers and business partners.”

In reviewing NBIC’s submission, Stephen Applebaum, senior analyst for Aite Group’s Property Casualty Insurance Practice, said, “An application that addresses a specific risk and delivers the service with very little inconvenience to the policyholder, and adds value to the policyholder, producer and carrier is a win-win-win. It is the application itself, designed to meet a specific industry risk that is innovative.”

“The approach taken incorporates some of the latest thinking and technologies,” wrote Best’s Review. “It represents one of the earliest deployments of insurance core systems placed in the cloud as Software-as-a-Service.” NBIC is one of 10 companies in the showcase recognized for forward-thinking among insurance organizations.

Headquartered in Rhode Island, NBIC offers specialty insurance products and services to homeowners through a select network of independent agents along the Eastern seaboard. Their recognition was for Project APEX, an enterprise architecture modernization effort that established a technology environment which enables exceptional client services, platform scalability, business alignment and product agility needed to transform the homeowners’ insurance marketplace. Exigen’s PolicyCore™ and BillingCore™ are core components of Project APEX that provide highly-configurable applications for underwriting, policy administration, billing, distribution management and agency and customer self-service.

Measures of success of Project APEX cited by Best’s Review include:

• NBIC is doubling written premium year-over-year
• time to issuance has been reduced by more than 80%
• distribution channel growth to over 6,500 agents and brokerage staff, including a high-volume direct writer call center
• anywhere, anytime access for agents on any mobile device

To read more about this innovation, visit http://www3.ambest.com/bestweek/getpublication.asp?issueid=9c3baaf9&pageid=22
Best’s Review is published by the A.M. Best Co. for insurance professionals, including home office executives, agents and brokers. Founded in 1899, A.M. Best Co. is the world’s oldest and most authoritative insurance rating and information source.

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The International Business Insurance product is available with PolicyCore™, a component of the Exigen OneSuite™ of core processing systems for policy administration, billing and claims management. The first client implementation is scheduled for the summer of 2012. The product was built within PolicyCore’s product management tool, Product Factory™, which allows insurers to streamline product development and management to meet channel demands and to respond to market changes for existing products.

The new product was designed in collaboration with experienced commercial lines insurance managers operating in multiple regions worldwide. Their input enabled the capture of a detailed set of product attributes and logic associated with coverages offered in Asia, Oceania, Latin America, the Middle East and Europe.

The introduction of an international business insurance product to stand alongside PolicyCore’s extensive personal lines product set is consistent with Exigen’s commitment to support the transformation agenda of global insurers. Customers gain product flexibility and also benefit from Exigen’s global software-as-a-service (SaaS) deployment of PolicyCore to rapidly and cost-effectively roll-out products from a platform that can serve multiple countries from a single data center and easily scale to market demand.

“The availability of an extensive business insurance product is an important enhancement to PolicyCore. It adds significant product options for insurers writing commercial lines in several geographies,” said Donald Light, Celent’s Director Americas Property/Casualty Practice.

“Insurers with a global presence face real challenges when trying to consolidate their systems and manage product offerings. Country-specific regulatory requirements, distribution models and business models create product complexity,” said Exigen Insurance Solutions’ president, Gwen Spertell. “Our goal is to reduce cost and complexity by providing customers the flexibility to do business the way they need to within one country while using the same core system and Exigen SaaS platform for multiple countries or regions.”

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“I am very pleased to welcome Peter to our executive team,” said Exigen Insurance Solutions’ executive chairman, Alec Miloslavsky. “He is an accomplished industry executive and leader who brings a wealth of global business experience. His oversight in critical areas of risk, finance and strategy will help drive organizational excellence. His insights into building value within the insurance enterprise will, in particular, give direction to our delivery of the business transformation execution so needed by insurers wanting to meet current and future market demands.”

Until March this year, Mr. Huehne worked for the Allianz Group and several of its subsidiaries. He served companies of the Allianz Group as a member of the board of directors, finance and audit committees. Since 2009 he was the president of Allianz of America and a member of the Fireman’s Fund executive and finance committee. Mr. Huehne has also served Allianz entities as CFO in Canada, Australia, Fireman’s Fund Insurance Company (US), Allianz of America, and the Allianz German Insurance Group.

As vice-chairman, Mr. Huehne has broad overall responsibility in the areas of risk, finance and strategy. This includes product pricing; oversight of financial target setting, planning, and third party management; interface to the capital markets; and insurance business outcome-based value alignment strategy.
“Exigen Insurance Solutions has a unique customer-focused business proposition for property and casualty insurance companies,” said Mr. Huehne. “This business model covers both the need for competitive IT solutions as well as optimizing the related expenses. The differentiated business model strategically and financially aligns Exigen and its customers through multi-year contracts way beyond the implementation of the IT solution.”

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“Mr. Zeller’s addition to our board brings even further industry experience and insight to a strong team focused on the exciting market opportunities for our growing and talented organization,” said Exigen Insurance Solutions’ executive chairman, Alec Miloslavsky. “The company will benefit directly from his growth-oriented, business-building approach. Willie shares our vision of technology as a creator of business value in the insurance enterprise and we look forward to his contributions and guidance.”

Mr. Zeller served as CEO at Hannover Re for 13 years. Under Mr. Zeller’s guidance, Hannover Re grew in standing from sixth to third largest reinsurer in the world. His strategy of efficient capital management, active cycle management and a focus on profitability made Hannover Re into the world’s second most profitable reinsurer. Prior to joining Hannover Re, Mr. Zeller was a member of the executive board of Cologne Re from 1977 through 1995. Earlier in his career, he served as the head of the Casualty Department and International Department Non-Life at Zurich Insurance Company.

Currently, Mr. Zeller serves as an independent director on the boards of Axis Capital Holdings, Deutsche Hypothekenbank and Towers Watson & Co. He and his former company have received numerous awards and recognitions from worldwide trade periodicals including Reinsurance Personality of the Year, Reinsurance Company of the Year (five times), the Innovation of the Year and Lifetime Achievement Award.

“Exigen Insurance brings a compelling value proposition to an industry in need of transformation,” said Mr. Zeller. “The combination of speed, quality, and value – underpinned by the company’s unique value-based, aligned business model for sharing the risk of large-scale technology modernization – addresses insurer concerns regarding rapid execution and longevity of insurance core systems.”

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“We are pleased with the results of the roll-out of personal auto in California. Technology modernization is a critical component of our business transformation strategy. It is enhancing our ability to provide great products with exceptional service and competitive pricing,” said Steve George, Chief Operating Officer, AAA NCNU Insurance Exchange. “Exigen Insurance Solutions has shown extraordinary commitment as a strategically aligned business partner to enable us to meet our goals.”

The project included replacement of multiple core systems and the installation of a scalable framework for large volume growth and was accomplished in a 13-month time frame. Exigen PolicyCore™ and Exigen BillingCore™ solutions were deployed in an enterprise package that also includes Product Factory™, DistributionCore™, rating, underwriting, business intelligence and reporting, customer relationship management, BPM, document generation, and content management.

“We chose Exigen Insurance for modern technology, flexibility, scalability and comprehensiveness of their solutions, and their reputation for implementation success,” said Steve O’Connor, Chief Information Officer, AAA NCNU Insurance Exchange. “Exigen’s on-time delivery proved how critical a fully open and service oriented architecture is to modern insurance IT development.”

“To complete a project with this level of complexity and deliver the business benefits in such a short time frame is unprecedented in our industry,” said Alec Miloslavsky, Executive Chairman, Exigen Insurance.

“We congratulate AAA NCNU Insurance Exchange for this successful roll-out. Its dedication to improving insurance operations through technology modernization underscores its strong commitment to members,” said Gwen Spertell, President, Exigen Insurance. “We feel honored to be providing a great organization like AAA NCNU Insurance Exchange with solutions that increase operational effectiveness and enhance business agility.”

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“Some insurance CIOs accomplish great things through the use of widely accepted technologies. Mike Anselmo is outstanding for his ability to prudently adapt leading-edge technologies before most of his peers appreciate their potential,” said Anthony O’Donnell, executive editor of Insurance & Technology. “In that respect, Anselmo has more than once shown the way forward for the industry.”

The annual Elite 8 award recognizes eight senior insurance carrier IT executives who have made an outstanding contribution to their company’s success and have demonstrated leadership, insight and innovation. Elite 8 executives are nominated by Insurance & Technology readers and other sources throughout the year and selected by a Consultants Advisory Board.

“We congratulate Mike on his Elite 8 award,” said Gwen Spertell, president of Exigen Insurance Solutions. “Mike is a strong believer in using technology to drive business value and he has the experience, confidence and vision to execute leading-edge projects, such as deploying Exigen’s policy administration and billing core systems as software-as-a-service. Mike also recognized the potential of Exigen’s unique value-based, aligned business model that allowed us to truly share the risks and to meet joint goals. We are proud to be able to contribute to his and NBIC’s success.”

Recently, NBIC was named a 2011 Celent Model Insurer in recognition of the business benefits and efficiencies derived from its policy administration replacement with Exigen PolicyCore™ and BillingCore™.

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“Karl Uphoff demonstrated an adventurous and entrepreneurial style early in his career both in technology start-ups and as a professional musician,” said Anthony O’Donnell, executive editor of Insurance & Technology. “His creativity and nose for technology’s potential led to the implementation of the Exigen-based ePCG platform at Chartis’ Private Client Group. Rather than take a piecemeal approach to modernization, Uphoff drove an aggressive, transformational approach that has supported double-digit growth at the high-end property/casualty business unit.”

The annual Elite 8 award recognizes eight senior insurance carrier IT executives who have made an outstanding contribution to their company’s success and have demonstrated leadership, insight and innovation. Elite 8 executives are nominated by Insurance & Technology readers and other sources throughout the year and selected by a Consultants Advisory Board.

“The Exigen team offers hearty congratulations to Karl on his well-deserved Elite 8 honors,” said Gwen Spertell, president, Exigen Insurance Solutions. “Karl is a genuine visionary who a decade ago could see the huge potential of new SOA technologies and industry data standards to create a new way forward to greater business efficiency. We have been fortunate to work with Karl since that time to help him craft an industry-leading organization and we are honored to be able to continue working together within an aligned business model to build on that success.”

Chartis’ ePCG technology modernization has also earned a Celent Model Insurer Award and top honors in the annual Vanguards in Insurance Practices (VIP) Awards.

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“Exigen PolicyCore™ distinguished itself as an industry leader in this report, demonstrating the broadest functionality available to the market and an advanced technology set that together delivers big business value to insurers,” said Ben Moreland, senior analyst in Celent’s insurance practice and co-author of the report. “Exigen should be considered for any insurer’s short list for policy administration system alternatives and provides the end-to-end solution with BillingCore™ and ClaimCore™ for insurers that desire one integrated suite solution for all their insurance process requirements.”

“Exigen provides a very robust and easy to use policy administration solution with PolicyCore for the personal lines product space. They are growing their customer base on the commercial side as well,” states the report. “All references gave high marks for the underwriting, rating and service desktop, workflow and document automation features and functions. Most other feedback was very positive across the remaining features and functions. One reference went so far as to state they ‘wouldn’t change anything’ about the product, and another stated that product management and knowledge of business were two of Exigen’s strengths above their competitors.”

Highlighted in the report is Exigen Insurance’s Aligned Business Model, which is its preferred license model. The model is outcome-based and ties remuneration to successful implementation and operation of the solution. “The Aligned Business Model is a clear market differentiator for us,” says Fazi Zand, VP, marketing and business development, Exigen Insurance. “It has proven to be popular with customers for its ability to reduce implementation and operational risk and cost, and to drive rapid implementation.”

Commenting on the award, Gwen Spertell, president of Exigen Insurance Solutions, stated, “We are delighted that Celent recognizes our leadership role in providing insurers with solutions that deliver wide and deep value to their businesses. We are very appreciative of our customers whose support and partnership has helped us to continuously improve and enhance PolicyCore as the market-leading, value-oriented option for policy administration system replacement.”

To download a copy of the full report on PolicyCore, click here.

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NBIC’s recent major technology modernization removed all core systems infrastructure from its Pawtucket home office and deployed it to its privately managed clouds. It rolled out Exigen Insurance Solutions’ PolicyCore™ and BillingCore™ as software-as-a-service with web-only access at the end of 2010. While NBIC did activate its home office disaster recovery process as power supply wavered, no fail-over portal, policy or claims systems needed to be brought up – they were always running. The systems run on global cloud computing service provider environments, whose operations were untouched by the hurricane, and even if they had been, redundancy protocols would have immediately kicked-in to provide uninterrupted availability.

“At the end of the day, when the storm passes, you want to be able to say there was ‘no impact to agent- or policyholder-facing services.’ Our decision to put our new policy administration system into the cloud as SaaS proved to be a good one from many perspectives, and right now the added value of built-in disaster recovery really stands out,” says NBIC’s CIO, MIke Anselmo. “While Irene caused power outages that affected our home office and our staff’s homes, our policy and claims systems remained available throughout the hurricane. If we had implemented our new core systems on-premise, it would have been very expensive to build out the necessary physical and technology infrastructure required, let alone create an additional disaster recovery site.”
Three days after Irene’s passage, says Anselmo, the SaaS core systems have scaled easily to accommodate a twenty-fold increase in online and call center activity.

“Redundant systems installed for disaster recovery purposes can be an expensive proposition for insurers,” says Exigen Insurance’s CTO, Michael Dwyer. “Exigen Insurance’s offering of Exigen PolicyCore™, BillingCore™ and ClaimCore™ as SaaS removes that headache for insurers. An additional benefit is elastic scalability. The SaaS deployment is designed to scale capacity as needed while disaster-spiked demand surges. It avoids the need to build and pay for over-capacity that insurers may or may not need. The Exigen SaaS offering is a complete in-the-box solution that also provides insurers the significant benefits of variabalized cost structure and risk sharing.”

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The localization features of Exigen OneSuite™ enable insurance company business users to seamlessly switch between languages depending on the business need and the markets being served by the system. At the click of a button, business users see all menu items, drop downs, page content and data fields display in the requested language as the system quickly translates not only the language but the resources of the insurance product itself. The extension of localization capabilities to Asian markets is in addition to Exigen OneSuite™ implementations in French- and Portuguese-speaking markets.

“The ongoing expansion of Exigen OneSuite™ localization to global markets is driven by clients that are seeking ease-of-doing-business from a single global platform,” said Rowshi Pejooh, vice president of product management, Exigen Insurance. “The ability to seamlessly change a complex core system from one language to another without having to log-in and log-out of separate systems represents a technology and service advantage for these insurers.”

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The core focus of the BillingCore™ v3.6 release is twofold: firstly, to improve the system user experience, resulting in a faster and more satisfying response to customer needs; and secondly, to expose more detailed billing data to improve both risk analysis and process and performer analysis. Powerful workflow and BPM capabilities help drive BillingCore’s continued development. Key 3.6 enhancements include:

• Extended rule-making capabilities
• More flexible payment plans and process automation
• Improved agency and billing management
• Enhanced agent and customer self-service
• Greatly expanded billing analytics and reporting through integration with Dynamic Analytics™, Exigen OneSuite’s new business intelligence tool

Version 3.6 of BillingCore™ includes the following features:

• Direct and agency billing, including single policy- and account-level billing
• Configurable role-based workspaces for different levels of users
• Flexible payment plans, including mid-term adjustment
• Dynamic installment schedule updating
• Multiple payment options, including EFT, credit cards, and mortgagee billing
• Web presentment of billing options to agents and customers
• Workflow management of work items moving between billing and other enterprise area
• Optional CRM and full integration to separate call center customer service tools
• Business user configurable bill plan rules
• Out-of-the-box and customizable billing reports for audit and control of billing transactions, receivables, and refunds
• Role-based Billing Dashboard and Billing Scorecard function

“Insurers continue to experience significant pain points around their billing operations. With customer service expectations rising, and high customer acquisition costs, they need solutions that create customer loyalty,” said Rowshi Pejooh, vice president of product management at Exigen Insurance Solutions. “In this significant upgrade of BillingCore™, we have worked with our customers and billing experts to develop user-centric enhancements that equip insurers with the all the tools to analyze billing operations and to create flexible billing plans and operations for a frictionless customer experience.”

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Nominations for the Best Practices Awards in the form of case studies were welcomed from the 192 companies listed in the 2011 VIP solution provider rankings. Nominees were encouraged to illustrate the role that ACORD data standards played as part of their business and technology success story. The awards were decided by Insurance Networking News (INN) editors, its editorial advisory board of industry experts, and Celent’s top insurance research analysts.

“The 2011 INN VIP Best Practice Awards challenged judges to select from an impressive list the “best of the best” case studies in terms of business benefit and quantifiable metrics,” said Ben Moreland, senior analyst, Celent. “Award winners emerge with the unqualified endorsement and acknowledgement of a jury of peers and experts. What impressed the panel about the NBIC nomination was the successful and pioneering deployment of SaaS core systems for legacy replacement and the strong results across the board, including such areas as new business quoting, operational efficiency and agency roll-out and adoption.”

“Narragansett Bay Insurance is honored to have been chosen as a VIP Award winner for Best Practices with Exigen Insurance Solutions,” said Mike Anselmo, CIO, Narragansett Bay Insurance. “We are grateful for the recognition of our successful technology modernization for which Exigen Insurance’s PolicyCore™ and BillingCore™ were cornerstone systems. NBIC is growing rapidly and this success would not have been possible without the SaaS deployment that got up and running quickly and the highly-configurable solution that gives us the business agility to quickly service customers and add products, states, and producers.”
Some key benefits listed in the nomination are:

• New policy and billing systems roll-out began within 13 months
• A two-thirds reduction in time for new business quoting
• A straight-through-processing increase from under 5% to over 75%

“Exigen Insurance congratulates NBIC on the VIP award,” said Gwen Spertell, CEO, Exigen Insurance Solutions. “We are pleased to be a part of NBIC’s success, and are honored to have our solutions counted among the ‘best of the best’.”

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The new and enhanced features within PolicyCore enhance property and casualty insurers’ ability to improve customer service, operational efficiency, agency/broker management and product agility.

“PolicyCore™ 3.6 has enhancements that appeal to customer-centric organizations interested in achieving differentiation through innovations in product, process and distribution,” says Rowshi Pejooh, vice president of product management at Exigen Insurance. “The common theme is providing insurers more flexibility, with transparency and control, so they can be more agile and responsive to customer needs.”
Areas of enhancement include:

• Product development: Rapid product development is key to business agility and market growth for all insurers and PolicyCore™ 3.6 provides enhanced support within Product Factory™ for collaborative product development, as well as efficiency improvements in product rules management that streamline and accelerate market expansion domestically and globally.
• User productivity: Insurers can find productivity gains through a number of Exigen Platform™ enhancements, such as the significant expansion of notes recording and management capability, including quick notes, search, spell check, and rich text support; the introduction of task management models with escalation and routing capabilities for handling manual tasks in business processes; and users can now simply drag and drop files from their own desktop system to the PolicyCore e-Folder™.
• Partner and book of business management: Insurers can broaden distribution channels and improve ease of doing business with the new Partner Scheme management tool, which manages all agreements with distribution partners – be they agent/broker, bank, retail or affinity organizations. In addition, enhancements to single and bulk agency transfer include inter- and intra-agency transfers, flexible search and preview, and lifecycle management of bulk transfer requests.
• Policy servicing: Insurers with call-centers serving multilingual clientele will have the ability to instantly switch from one language to another – English to French, for example – from within the UI.
• System efficiency: New configuration capabilities have been added to provide greater flexibility to manage taxes and fees at the policy or coverage levels. The new release also includes a more simplified way to handle non-premium bearing endorsements that saves an average of 50% in transaction time.

“The new release of PolicyCore™ has been well received by our customers who are excited by the possibilities the enhancements provide to give a revenue lift or drive more operational efficiency,” said Gwen Spertell, president of Exigen Insurance. “These enhancements demonstrate our ongoing commitment to providing insurers with more and ever-better configuration and solution management capabilities.”

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The solutions brought together by these two industry-leading providers solve all important challenges faced by insurers entering this market. The solutions are turn-key, satisfying all technology integration, data, actuarial, regulatory and customer communications requirements.

Exigen Insurance Solutions’ Exigen OneSuite offers modular, end-to-end core solutions for policy administration, claims, billing and account management. Exigen has a market-ready solution for the pay-as-you-drive automobile insurance market. The Exigen PAYD® solution enables insurers to rapidly implement a usage-based pricing auto insurance product with no impact to existing applications and business processes. Exigen PAYD can be delivered as software-as-a-Service (SaaS) or as a custom implementation.

The Evogi Group’s innovative Intelligent InsuranceSM delivers a UBI solution that capitalizes on broad insurance expertise in agency operations, insurer operations, modeling, and driver scoring. The solutions feature flexible modern architecture and telematics platforms that utilize Evogi’s or third party devices to provide comprehensive location based intelligence that enables, reporting and interaction with vehicles.

“The pace is quickening for entry to the usage-based auto insurance market. Insurers need to rapidly create innovative product offerings or risk losing customers to competitors,” said Fazi Zand, Vice President Marketing and Business Development, Exigen Insurance Solutions. “However, usage-based insurance presents new forms of handling and managing realtime data. Furthermore, the integration of telematics and sensor technologies represents new challenges for existing systems and IT resources. The union of the Exigen Insurance and Evogi’s UBI solution provides a complete, effective, flexible, and ready for market deployment alternative.”

“Telematics when tied to usage-based insurance provides insurers a host of opportunities to provide better policy pricing, risk management, claims reduction, and on-board services,” says Bob Neeser, Senior Vice President, Sales and Marketing, The Evogi Group

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“Claims-management processes should be formed by an organization’s best practices, not by rigid, off-the-shelf, one-size-fits-all software. With this powerful rules-driven enhancement to ClaimCore, insurers can configure claims user workspaces to their organization’s unique needs. Claim Factory gives claims management a design environment where they can configure loss-data collection processes to match their company’s operational objectives, customer service philosophy and regulatory requirements,” said Rowshi Pejooh, VP, Product Development.

Claim Factory utilizes Exigen Insurance Solutions’ unique “building block” design approach to provide complete reusability. All claims data fields are organized into building blocks that can be configured, extended and assembled to change existing or create new workspaces. With Claim Factory and ClaimCore’s embedded business process management engine, insurers can design and optimize their claims process to differentiate their customer claim experience from competitors.

Claims Factory improves claims management in the following ways:

• Business users can easily configure and build web-based claims workspaces for new and existing products and policies using “building blocks”
• Data-collection processes can be made more efficient and accurate
• Business rules and role-based permissions can be applied to all building blocks and functions
• Collaboration capability allows claims stakeholders to jointly design workspaces
• Extensive scripting capabilities accelerate training of new employees

“Our customers are excited by the flexibility and agility that Claim Factory gives them. For instance, when bringing on line a new call center with staff who are not experienced, it is a simple process to configure their workspace to limit the number of tabs and fields and introduce scripts and prompts that are intuitive and which speed claims gathering and accuracy. Insurers can then re-use and configure the same workspace to fit user needs and skill sets across different products, lines of business and markets,” says Jim Eva, claims product manager, Exigen Insurance Solutions.

Claim Factory extends ClaimCore’s ability to:

• Configure the order in which data is collected to streamline contact-center processes
• Create ‘tool tip’ contextual notes with instructions or scripts for any data-entry field
• Define business rules for acquiring and validating information
• Configure user workspace organization and navigation
• Set labels to match an organization’s specific claims terminology
• Track claims activity for accountability of people and processes

“Staying on top of a rapidly changing claims environment requires flexibility to swiftly respond to changing market and regulatory demands,” said Karlyn Carnahan, Principal, Insurance at Novarica. “The ability to easily add data elements, use those data elements in easily configurable rules, and customize user interfaces are critical capabilities for carriers looking to deliver leading claims capabilities for the future.”

“We are very pleased to bring Claim Factory to the market. Claim Factory extends the industry-leading configuration capabilities of the Exigen OneSuite to ClaimCore and enhances our clients’ business agility,” said Gwen Spertell, CEO, Exigen Insurance Solutions. “For insurers, having straightforward tools to devise efficient and responsive claims management can directly result in bottom line improvements.”

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“Our goal with Dynamic Analytics is to help insurers create a culture based on results and productivity by harnessing the power of information and analytics accessible at all levels of the organization,” says Rowshi Pejooh, VP, product development, Exigen Insurance Solutions. “It delivers the right information to the right people at the right time. Performance and transactional data is presented in out-of-the-box and customizable reports and operational and executive dashboards. Management can quickly and consistently evaluate the health of the business with pre-scheduled and on-demand reporting that might range from quote-to-policy issuance times in a regional data center, to sales conversion at a specific agency, to claims history in a certain zip code or hourly enterprise-wide policy sales numbers.”

“Another goal is to make business intelligence affordable. For insurers to set up their own data warehouse and analytics infrastructure separate from their core systems is an expensive proposition that can easily run into the seven figures. By building it into the Exigen OneSuite solutions PolicyCore™, BillingCore™ and ClaimCore™ our customers get a very significant value add that reduces their TCO and increases ROI,” says Pejooh.
Dynamic Analytics offers analytics on-demand with a high degree of flexibility. It provides analysis of outcomes and projections for every aspect of core operations, from policy, billing and claims to distribution. It also includes business activity monitoring capabilities for measuring the efficiency and compliance of all business processes. Other features include:

• Out-of-the-box definitive data warehouse schema that eliminates the need for carriers to design their own schema
• Out-of-the-box ETL that eliminates the need for carriers to schedule and maintain ETL jobs
• 50-plus actionable out-of-the-box reports related to policy, billing and claims and customer/party-centric activities
• Extensible custom report creation capability
• Out-of-the-box, self-service operational and executive dashboards
• Dashboards include predefined yet extensible key performance indicators (KPIs)
• Fast refresh and replication to support real time reporting

“Our customers are constantly trying to make sense of the mountain of data that their core systems produce every minute of every day,” said Gwen Spertell, CEO, Exigen Insurance Solutions. “Building business intelligence capabilities right into their deployments of PolicyCore, BillingCore and ClaimCore to offer them decisioning support is the logical way to approach the problem. It extends the value of their core system investment by removing the burden and cost of typical external business analytics software deployments.”

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Novarica ACE Ranking Report gave Exigen PolicyCoreTM a total score of 94 and the highest recorded ranking of 99 out of 100 for “overall customer satisfaction” for a property and casualty insurance policy administration system. Exigen Insurance customers completing the survey also gave scores of 96 for “technology” and 93 for “functionality”. The survey responses highlighted enhanced productivity, effectively addressing business problems, little to no service or performance issues, alignment to insurers’ business interests and all respondents highly recommended Exigen Insurance Solutions to peers.

“Exigen’s strong score for overall customer satisfaction is a testament to their customers’ high satisfaction levels with Exigen’s product and services,” commented Matthew Josefowicz, partner and managing director at Novarica, and lead researcher in the ACE Rankings program
The rankings are produced independently and are not sponsored by vendors. They are intended to provide a transparent, unedited picture of how well a solution or provider meets its users’ needs, says Novarica.

Gwen Spertell, CEO of Exigen Insurance Solutions, said, “It is very gratifying to the Exigen Insurance team that our customers scored us so highly on the ACE rankings. We place tremendous importance on developing both the technology and the customer partnership that allows a close alignment of business objectives and delivers industry-best outcomes. It is a high priority to us to match PolicyCore’s comprehensive functionality, configurability and flexible delivery options – including SaaS – to optimize business value for each customer.”

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“At AMI we believe our commitment to ‘Customer Care’ is the cornerstone of our success. For that reason, our search for a replacement for our legacy systems put a strong focus on finding the most customer-centric solution available. The Exigen Insurance solution is exactly what we were looking for; the AMI concept of Customer Care is embodied in its design. This modern platform will allow us to migrate efficiently from our legacy systems to deliver the highest levels of customer care and satisfaction while also creating operational efficiency and cost savings,” said John Balmforth, CEO, AMI. “We have chosen a system provider whose interests are aligned with ours through a partnership model that supports rapid deployment and long-term viability of our new systems.”

AMI currently services 1.1 million auto, home, contents, farm and boat insurance policies. Exigen OneSuite will provide AMI several business benefits, including:

• An integrated view of customer information and history that improves response time
• Enhanced ability to service policyholders as individuals, groups and organizations
• A highly configurable tool to accelerate product development
• Automated underwriting capabilities that streamline new business and policy servicing processes
• Business process management that reduces process cycle-times and transaction costs
• Elevated claims service levels that speed claims settlement and decrease loss costs
• Business intelligence and reporting that supports continuous business performance improvement

“Our in-house built systems have served us well but their design and structure no longer provides the flexibility we need to compete and grow. Exigen OneSuite’s comprehensive functionality and modern architecture are built on a new generation of technology that future-proofs our investment,” said Mr. Balmforth. “The solution’s modular but integrated policy, billing and claims capability will streamline system implementation. The highly-configurable product and process management will allow us to deliver more customized products to market quickly. Of most importance, our customers and staff will appreciate the systems’ ability to automate and synchronize all our distribution channels – online, call center, branch office and agency – and display a complete view the customer’s individual and group associated business.”

“We are proud that AMI has selected Exigen OneSuite to help it modernize to meet market demands. AMI is a top-rated insurer with an enviable record of corporate responsibility and employee satisfaction. We are committed to helping them extend their market leadership and reputation for great products and service,” said Gwen Spertell, CEO, Exigen Insurance Solutions. “Implementation has begun and working in partnership with the AMI team we look forward to successful completion of this major modernization initiative.”

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Celent’s premier global awards recognize insurers cited in the firm’s Model Insurer 2011 report. The report offers some key best practices in the effective use of technology that a “model insurer” would use, says Celent.

NBIC implemented Exigen PolicyCore and BillingCore, deployed as software-as-a-service (SaaS), as the cornerstone of its enterprise technology modernization to enable it to improve ease of doing business with its agent/broker sales channel, quickly enter new markets with new products to capture growth opportunities, and reduce business processing times and operational costs.

According to the report, NBIC was chosen as a Model Insurer “because of the best practices in enterprise systems legacy replacement for its improved channel management, optimization of infrastructure, and higher productivity/lower staff expenses.” The report acknowledges NBIC for “combining SaaS and aligned business models to speed implementation.”

“We congratulate Narragansett Bay Insurance as an example of a carrier with a vision of insurance in the cloud that now provides them a future-proofed technology investment with exceptional business agility and scalability,” said Gwen Spertell, CEO, Exigen Insurance Solutions. “NBIC has taken an innovative approach in both technology and partnership. Through our outcome-based, aligned business model, both Exigen Insurance and NBIC are deeply committed to the long-term success of this major technology modernization project. We are looking forward to continuing our work together to maximize the business benefits.”

The full report is available at www.celent.com.

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“I am very impressed by Exigen Insurance’s advanced approach to enterprise technology and unique ability to drive successful system modernization for customers through outcome-based alignment of technology and business goals,” commented Martyn. “It is a new and appealing paradigm for vendor and insurer partnership. Working with Exigen Insurance’s innovative team, I look forward to building on the company’s strong market momentum.”

Martyn brings over 25 years of industry experience to Exigen Insurance, including leadership positions with prominent insurance technology companies. As U.S. country manager and global head of software sales at Xchanging Global Insurance Services, Martyn led a team focused on expanding penetration of software applications across insurance, reinsurance and broking sectors while also serving on the management team driving direction for product strategy, marketing, solution delivery and customer service.

Prior to Exchanging, Martyn was president, North America, and managing board member for Rebus Insurance Systems, where he secured major contracts with leading national and multi-national insurers for enterprise processing solutions. Martyn came to Rebus through its acquisition of EPG Insurance Systems, where he served as the U.S. company president. Martyn holds a BSc (Honors) in mathematical statistics and operational research from the University of Exeter.

“I am pleased to welcome Martyn to Exigen Insurance as head of sales. Martyn brings deep insight into insurers’ business transformation needs that will help us match our solutions to a market hungry for reliable, customer-centric, high performance systems,” said Gwen Spertell, CEO, Exigen Insurance Solutions. “Martyn’s extensive domestic and international experience driving market share and profitable growth is a valuable asset to our management team as we continue our strong growth trajectory.”

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According to Kimberly-Harris Ferrante, VP Distinguished Analyst, Gartner, and author of the report “Replacing aging and legacy policy environments will continue to be a priority among P&C insurers during the next three to five years, based on Gartner’s assessment of the market and client interactions. Business changes will force insurers to adopt new processes and to offer new functionality that is not supported in current-day systems or that can be changed easily without code rewrites.”

Exigen Insurance Solutions’ research and development focus has been on providing insurers with thoroughly modern insurance core systems, based on an advanced service-oriented architecture, that deliver business agility. The solutions provide timely product and process innovation that support flexible distribution models in new or existing markets. PolicyCore embodies this approach as a highly configurable policy administration system with the most comprehensive functionality available in a modern solution. Rating, automated underwriting, product configuration, customer account management and CRM, integrated distribution management, business rules, business process management, document generation and management are all available in a configurable and scalable solution that offers broad business value to insurers. Insurers both large and small have implemented PolicyCore in on-premise, hosted and software-as-a-service environments to improve speed-to-market and service and to reduce costs.

“The Exigen team is proud to be included in this report,” said Gwen Spertell, CEO, Exigen Insurance Solutions. “We are pleased with the strong acceptance and market momentum of PolicyCore and its recognition as a new solution that solves critical business problems that are eroding the competitiveness of P&C insurers. PolicyCore, and its suite partners ClaimCore and BillingCore, answer insurers’ needs not only for process efficiency and cost effectiveness but also vastly improved product and service delivery.”

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Insurance IT All Star is an annual award recognizing senior insurance IT executives who have shown leadership and vision in their use of technology to support their company’s business goals. Recipients are drawn from the property and casualty, life and health, and reinsurance sectors.

“We feel it is important to recognize some of the outstanding people who work in insurance technology and Mike Anselmo certainly fits that bill,” said Robert Regis Hyle, editor-in-chief, Tech Decisions. “His technology and leadership skills certainly stood out among the candidates for this honor, but we also were impressed with his personal résumé. His interest in education and Junior Achievement illustrate a depth that not all business leaders exhibit.”

Anselmo started with NBIC in February of 2009. He previously served as CIO at Clarendon Insurance Group, Praetorian Financial Group and QBE Specialty Insurance. His first task at NBIC was to evaluate options. In June of that year, he presented a technology and operational transformation strategy to the board of directors and management team. The initiative is named Project Apex and it includes implementation of a new website and agency portal, data warehouse, and policy administration, billing and claims management systems.

“We congratulate Mike on this well-deserved recognition,” said Gwen Spertell, CEO of Exigen Insurance Solutions. “Mike is a visionary with the deep operational experience required to guide successful technology projects. It has been our pleasure to work with him to provide the Exigen PolicyCoreTM and BillingCoreTM systems as an innovative SaaS implementation with an outcome-based alignment and partnership between Exigen Insurance and NBIC.”

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PolicyCore is Exigen Insurance’s highly-rated policy administration, product configuration, and rating solution currently used by property and casualty insurers of all sizes to reduce operational costs and drive revenue growth.

The integration of ISO Electronic Rating Content completes PolicyCore’s support for personal and commercial lines. PolicyCore now supports any product, any line of business, and any distribution channel. The flexibility and extensive product and process configurability offered by PolicyCore allow carriers to rapidly add additional lines and volume as their business grows.

“We designed ISO Electronic Rating Content in response to requests for a solution that can jump-start initial development of personal and commercial lines products,” said Kevin Thompson, senior vice president, Insurance Services, ISO. “Exigen Insurance was among the first to ask us to provide the program because they realized their modern architecture, data structure, and product configuration capabilities would allow a faster product integration path for live rating data than traditional approaches. Manual analysis and implementation of the ISO circulars are unnecessary, and data quality is improved. The savings for insurers are significant, as ISO typically makes 3,000 to 4,000 program changes per year in commercial lines alone.”

At the center of PolicyCore’s new commercial lines capability is Product FactoryTM, an advanced rules- and tools-based product development and configuration tool. Product Factory accelerates product development through the reuse of existing product “building blocks.” The building blocks correspond directly with ISO rating data, and Product Factory users are able to collaboratively manage the product development process, including insurer-specific ISO product deviations. A product is composed of multiple building blocks, and only those affected by the new rating data require updating. Consequently, updates are substantially quicker than traditional methods.

“Our goal is to meet both existing customer and broader market demand for a state-of-the-art personal and commercial lines policy administration solution,” says Gwen Spertell, CEO, Exigen Insurance Solutions. “We recognized that a live stream of ISO commercial lines rating data was critical to our success and ISO was very responsive to our request. When ISO data is released, our automated integration tools will import it to our rating engine and product templates. With the combination of electronic ISO updates and the product configurability provided by Product Factory, we are able to bring a new value proposition to the commercial lines market. Insurers can get compliant products to market faster, easier, and more cost-effectively.”

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Smith brings a comprehensive knowledge of insurer operations to the new management role of VP, Client Relations. He has over 30 years experience in P&C insurance business and technology management. As senior vice president at California State Automobile Association (CSAA), he oversaw all aspects of a $1.6 billion personal lines insurance portfolio, including all actuarial, claims, and underwriting activities, together with product management, product delivery and customer service functions, through a workforce of 3,500 working out of 80 retail locations. He led major initiatives to streamline business operations and align technology for business growth. Smith has a long association with the American Red Cross, Bay Area Chapter, serving as chair of the board and later as chief public support officer.

“We are very fortunate to have a former insurance company executive of Greg’s caliber on our management team,” said Gwen Spertell, CEO, Exigen Insurance Solutions. “Greg brings exceptional people skills and deep insight into the operations of insurers to the task of engaging clients in the transformation of their businesses. With the strong growth we are experiencing in the insurance core systems market, Greg will play a pivotal role helping us provide an industry-best customer experience and a finely-tuned solution delivery operation.”

“Insurers have opportunities to use technology to drive revenue, improve customer service and reduce operational costs that were unimaginable just a few years ago,” said Smith. “It is very gratifying to be in a role helping insurers take full advantage of the new capabilities available to them in such an advanced and comprehensive core systems solution as Exigen OneSuite.”

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Kelly joins Exigen Insurance from Accenture, where she was a Partner in their Insurance Delivery practice. She has many years of experience delivering business benefits through implementation of multi-faceted programs impacting people, business processes and technology capabilities. In her twenty years at Accenture, Kelly has worked with a number of the top insurance companies to drive large, transformational efforts. She has proven experience in all aspects of the insurance lifecycle, including policy and product, sales and distribution, billing, claims and reporting.

“Nancy has a wealth of industry experience and is recognized for managing complex technology initiatives through the creation of high performance teams. We are very pleased to welcome her to our executive team,” said Gwen Spertell, CEO, Exigen Insurance Solutions. “Her combination of business and technology skills, coupled with her strong track record for successfully delivering projects will enable Exigen Insurance to continue to hone its implementation skills to serve its clients.”

“The Exigen OneSuite is a truly modern system designed to incorporate best practices in both architecture and insurance process management,” said Kelly. “This delivers real benefits in terms of ease of integration and configuration and I am looking forward to the opportunity of maximizing these benefits in each client’s solution delivery.”

Nancy holds an MBA from the Kellogg School of Management at Northwestern and a Bachelor’s in Business Administration from the University of Notre Dame.

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