EIS Group, a core and digital platform provider for insurers, is pleased to announce that EIS ClaimCore® has been awarded top honors in three of five award categories in a recent Aite Group Impact Report evaluating life insurance claims vendors in North America offering stand-alone claims systems.
According to Aite, EIS Group’s ClaimCore provides a more modern technological approach to claims administration than the other solutions surveyed. Aite recognized EIS Group as the 2018 claims systems leader in digital, workflow and integration capabilities with three AIM Awards for ClaimCore.
“The EIS ClaimCore system provides life insurance carriers with a complete tool to move forward with digital transformation while dedicating itself to other challenge areas such as integration and workflow that get at the heart of what carriers need most,” says Samantha Chow, senior analyst at Aite Group and author of the report.
The Aite report views claims as a primary focus as the US life insurance industry shifts its focus on customer-facing technologies and processes to include back-office operations. The new attention to claims is driven by the need to reduce operational cost and improve the beneficiary experience. To evaluate vendor offerings, Aite focused on vendor stability, client strength, product features, and client services.
Award for Most Extensive Digital Capabilities
Aite recognized EIS Group for most extensive digital capabilities and described ClaimCore as ready for the future of life insurance claims and a more digital claims process driven not only by insurers’ need to reduce the cost to process claims but also by the demand for a more positive customer experience.
“EIS Group’s solution is fully digital: Capabilities are built at the platform level rather than at the component level,” states Chow. “It offers more advanced mobile features, including keychain and autofill, camera and photo gallery for easy scanning and uploading of documents, audio recording for transmitting messages to the carrier, location recognition, optical character reading or barcode scanning, credit card scanning for easy payout, and bots for automation.”
Award for Most Comprehensive Integration
Aite also recognized EIS Group as best in class in the area of integration, which is key for life insurance carriers in North America, according to the report, as most have many different core systems across their technology ecosystems.
“EIS Group offers all of the necessary integration functions and features for a life insurance carrier,” says the report. “It stands out in its investment in and dedication to AI and chatbots to support the claims process. EIS Group’s claims solution, ClaimCore, comes pre-integrated with third-party tools that support both AI and chatbots.”
Award for Best Workflow Tool
EIS Group also received the top marks for the workflow management Aite believes carriers need to reduce operational cost and drive a more consistently operated claims department.
“EIS Group provides a more complete workflow solution as it relates to configuration,” says the report. “EIS Group offers workflow configuration that is supported by rules configuration, templates, and wizard-based tools. EIS Group also has strong client references as it relates to workflow, reporting complete satisfaction with workflow capabilities.”
“We deeply appreciate Aite’s recognition of our efforts to create a claims solution that will meet today’s needs and anticipate insurers’ future needs, while also providing a solution that can be a stepping stone to a fuller core system modernization,” says Rowshi Pejooh, executive vice president of product management, EIS Group.
The copy of Aite’s report Life Insurance Claims Vendors in North America: Evaluating Stand-Alone Systems featuring the full EIS Group profile is available for download.