EIS Group is pleased to announce Version 6.2 of the EIS Suite™, which introduces Pre-Configured Solution Packages for commercial auto, property and general liability, is now available in Brazil. The new release includes full support for Portuguese language and multi-currency transactions and is compliant with SUSEP regulations through a partnership with the leading regulatory reporting solution provider. For insurers looking to replace critical core systems, the solution packages offer out-of-the-box functionality for improved speed-to-market and a lower total cost of ownership (TCO).
“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 Suite 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 Suite, 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 Suite 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 Suite software system can be deployed on premise or in the cloud.
EIS Suite 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 Suite 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.”