Ukraine FlagWe support and stand by Ukraine in its fight for freedom. Join us →

Why EIS

Why we’re the top choice for the world’s most ambitious insurers

By Outcome

Customer Experience

Implementation Success

Modern Infrastructure

Operational Efficiency

Product Innovation

Time to Market

By Market

Group Benefits

Simplify and streamline operations

P&C / General

Connectivity, speed, and customer centricity

Protection

Embrace change and become future-proof

Life & Annuities

L&A is ready for digital transformation

Offerings

A solution for every kind of ambitious insurer

By Product

Core Transformation Platform

The all-in-one platform for ambitious insurers

Policy Administration

The future-proof way to handle the entire policy lifecycle: from quoting to renewal

Billing Management

Make all of your billing processes more agile and profitable

Claims Management

Elevate all facets of your claims processing

By Use Case

Claims Automation

Claims Leakage

Distribution

FNOL

Fraud Detection

Portals

By Market

Group Benefits

Simplify and streamline operations

P&C / General

Connectivity, speed, and customer centricity

Protection

Embrace change and become future-proof

Life & Annuities

L&A is ready for digital transformation

Explore

Resource Library

Newsroom

Connect

Events

Book a Call

Support

EIS University

Contact Support

Latest Resource

Our Story

Leadership

Partners

Customers

Newsroom

Contact

Latest Blog Post

Illustration of a blog announcement

Loading RSS Feed

Press Release

New technology takes Principal disability insurance into the future

A new partnership with EIS Group will help Principal Financial Group® simplify the process of buying and servicing disability insurance.

Principal® is leveraging technology to modernize the disability insurance customer experience. The partnership with EIS Group will provide a simplified process for consumers and business owners to protect their income, as well as service their ongoing and changing needs. It also brings new technology, such as API-based capabilities, that will ultimately enable straight-through underwriting and enhance the digital experience. This customer-centric approach benefits consumers by reducing the time from application to activation for a disability insurance policy.

One in four of today’s 20-year-olds will become disabled before they retire[1]. However, only 20% of households in the U.S. have disability insurance[2]. Disability insurance can play a key role in an overall risk protection plan.

“The technology from EIS Group is a game-changer because it lays the groundwork for so many future enhancements that will benefit customers,” said Paul Fromm, vice president of individual disability insurance at Principal®. “By simplifying the process, we improve the customer experience – saving customers valuable time and making it easier to purchase and service disability insurance. There are many working Americans who have not purchased income protection. We have a great opportunity to provide education and help them get the valuable protection they need for their income in case they become too sick or hurt to work.”

“We are proud to partner with Principal to provide individual disability products on the EIS Group platform,” said Alec Miloslavsky, CEO of EIS Group. “We admire the organization’s commitment to customer-focused digital transformation and look forward to provide the platform that enables continuous evolution and growth in the years ahead.”

Principal® is a top-five individual disability insurance provider with more than $500 million in revenue, representing 11% of U.S. individual disability revenue2. In addition to helping individuals, Principal is the only carrier with complete solutions to meet employers, employees and business owners’ disability insurance needs[3]. The disability insurance business has grown 8% over the past five years, compared to the industry average of 1.7% during this period[4].

“This investment in technology and partnership with EIS Group, is a tangible signal of our commitment to our consumers,” added Fromm. “By simplifying the process for consumers, we are helping working Americans and their families protect their financial futures and their retirement savings so they can continue to save enough to meet their retirement goals.”

Share This