EIS Group, a leading provider of insurance core systems, today announced that a large multinational insurer has successfully deployed EIS Group’s PolicyCore®, BillingCore® and CustomerCore™ systems. The software solution will serve as a modern platform for underwriting, policy administration, billing and customer management to support the insurer’s accident and health line of business.
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.”