Renaissance Life & Health Insurance Company of America, a national dental, vision, life, and disability insurance provider, and EIS, an insurance core and digital platform leader, announce the launch of a next-generation insurance administration platform to support innovation, expansion, and rapid growth at Renaissance. The new cloud-based platform replaces multiple administrative and rating systems to bring product administration together under one system, increasing efficiency and accuracy while improving the customer experience.
In the group benefits landscape, the demand from brokers and employers for simplified, multi-product offerings that are also easy to administer is growing. Renaissance recognized the opportunity to leapfrog ahead with a new end-to-end system that incorporates all of its products and helps to automate and support its workflow — from quoting and case installation to billing and claims processing. Partnering with EIS helped drive this important advance and its success as a multi-line insurer.
“Growth often presents opportunities to find more efficient and effective ways to operate. The EIS solution allowed us to create an ecosystem unifying our core and digital operations across multiple lines of business. At the same time, it provides a digital platform to help us deliver outstanding insurance experiences for our brokers, employer groups and members today and into the future,” said Robert P. Mulligan, President and Chief Executive Officer, Renaissance.
The new platform will be used for creating new insurance products, quoting, enrollment, policy administration, billing, claims, and customer and broker management. In addition, it will facilitate self-service processes to provide a differentiating level of service and efficiency.
EIS’ leadership is excited about the opportunity to deliver a platform that provides Renaissance with extreme product flexibility and cutting-edge digital experience capabilities.
“Renaissance represents the wave of the future,” said Tony Grosso, Head of Marketing, EIS. “Renaissance was early to understand that innovation is tied to success in the marketplace and that a new generation, open-architecture platform can power the type of product and plan flexibility and broker- and customer-first engagement that wins new cases and drives retention.”
It is a testimony to Renaissance’s commitment to digital transformation that the COVID-19 pandemic accelerated rather than stymied progress on the project.
“This transformation program is a high priority for Renaissance. So, we were pleased that with the highly automated, cloud-based, and remote delivery environment provided by EIS, we did not experience any slowdown as an impact of the COVID-19 pandemic. In fact, once we had managed our immediate organizational response to the pandemic, we were able to commit more resources and increase productivity, helping us maintain our projected schedule for this significant initiative,” said Renaissance Chief Operating Officer Jeff Kolesar.
“EIS is honored to support Renaissance’s digital transformation initiative,” said Alec Miloslavsky, CEO, EIS. “The roll-out was a large undertaking not made any easier by the pandemic disruption. I am proud of the joint effort to overcome that disruption and our work helping Renaissance position itself for the future of the employee benefits market.”
Renaissance has deployed the EIS platform’s fully integrated applications, PolicyCore®, BillingCore®, ClaimCore®, CustomerCore™, CustomerCore CEM™, and EIS DXP® to gain end-to-end business capabilities that support digital enablement at every stakeholder touchpoint.
Renaissance Life & Health Insurance Company of America and its sister company Renaissance Life & Health Insurance Company of New York offer ancillary benefits for employer groups and individuals nationwide. Dental, vision, life and disability insurance comprise the core line of the company’s ancillary benefits solutions. With headquarters in Indianapolis, Ind., Renaissance is focused on providing its members and partners with outstanding products and service. Visit www.renaissancebenefits.com, and find us on Facebook, LinkedIn and Twitter.