EIS Group, a leading provider of insurance core systems, today announced at the IASA Educational Conference and Business Show the availability of EIS Core Insurance Suite™ 7, the latest version of its software suite for property and casualty insurers. The result of EIS Group’s customer-centered design approach, version 7 makes it easier for insurers to know their customers and more quickly deliver products and services that are relevant to their customers’ specific needs.
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 Suite 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 Suite’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 Suite 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 Suite, 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 Suite 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 Suite 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.