EIS Group, a global provider of insurance core systems, today announced that a large multinational insurer has selected and is implementing the EIS policy administration, billing and customer management solutions for its accident and health line of business. EIS insurance software enables the full policy lifecycle for group, voluntary, and worksite benefits on a single, modern, open IT platform.
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 Suite to support customers’ aggressive business objectives.”