EIS Group today announced EIS Suite™, the company’s family of insurance software solutions, has been selected as the new core systems platform for State Insurance (State), a leading New Zealand general insurance provider. The modernization initiative includes core system replacements for policy administration, billing and claims, as well as the addition of new omni-channel capabilities.
State will deploy EIS Suite 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 Suite 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 Suite 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 Suite, 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 Suite, please contact Kevin Haydon, marketing and communications manager for EIS Group, at +1.845.797.2976 or email@example.com, or visit the company website at www.eisgroup.com.