EIS Group, a core and digital platform provider for insurers, is pleased to announce that EIS Suite is recognized as the leading platform among P&C PAS vendors for product features supporting third-party data integration in a new report from Aite Group. The report explores how well the leading policy administration system (PAS) vendors can deliver on policyholder expectations by integrating third-party data to enhance core operational functions, such as underwriting and claim processing.
The report, AIM Evaluation: PAS Vendors’ External Third-Party Data Integration Capabilities, evaluates the overall competitive position of each PAS vendor, focusing on vendor stability, client strength, product features, and client services.
According to Aite, EIS Group emerged as the leader in the product features category with the highest score recorded in any of the four categories by demonstrating the ability to integrate external third-party data (ETPD), offer open APIs, and wrap that all into the traditional PAS construct.
“EIS has built out an extremely data-focused platform that can accommodate a wide range of carriers’ data needs. There are no real limitations with this platform with regard to ETPD importation and integration, as customization is not needed to incorporate any data element into any core process. Furthermore, EIS’ determination to bring forth a robust AI/ML offering speaks volumes about its dedication to ensuring that its clients are able to work with and gain meaningful insights from ETPD,” says Jay Sarzen, senior analyst at Aite Group and author of the report.
The Aite report details major drivers for expanded data integration and their significant benefits as increased process accuracy; development of more holistic policyholder/applicant views; increased staff productivity; expedited operational processes; and, promotion of growth by underwriting new industries and risks. In addition to the product feature category, EIS Group was also rated as a best-in-class offering in client service and vendor stability.
Aite noted that third-party data integration is supported for EIS Suite’s rating engine, document generation, billing, CRM, reinsurance, and claims. The solution can also automatically route workflow based upon imported ETPD, and both business stakeholders and IT staff are able to adjust workflow and rules based upon imported ETPD if needed. Microservices are supported with a one-per-integration approach as well as a platform/hub approach.