Evaluate and compare L&A platforms with this practical selection scorecard. Assess architecture, native capabilities, AI automation, experience, implementation, vendor risk, and total cost of ownership to support confident modernization decisions.
Phase One: Group Benefits in North America
When a household-name insurance carrier sought to scale their group benefits operation to address the needs of employers with 2,000 lives or less,in the US, they realized that their existing tech stack was getting in the way.
Their existing systems couldn’t support the level of automation or agility needed to provide group benefits to smaller employers, which meant they either had to give up on the opportunity, or seek out a tech vendor that could give them what they needed.
Not only did EIS provide a seamless solution and integrated capabilities tailored to the market requirements they were seeking, but it was also in market quickly, allowing the carrier to launch six products in six months, including:
- Group term life
- Short-term disability
- Long-term disability
- Accident
- Hospital indemnity
- Critical illness
In less than one year, full implementation was complete, and enrolment opened before the effective dates.
Phase Two: The European Home & Auto Team Takes Notice
Fast forward a few years, and this large insurer’s European team wanted to deploy an ecosystem of motor and home products across multiple countries.
They knew the products would have certain similarities regardless of what country they were sold in, but also that various country-by-country nuances needed to be accounted for. For example:
- In Spain, they needed a way to keep motor products competitive without downtime.
- In Ireland, regulations required more intricate rule configuration and the ability to make rule changes quickly.
- In Portugal, coverage needed to be optimized to sell through an ATM-like kiosk.
With EIS, the carrier found a core solution and capabilities that provided the optimal balance they needed between stability for the core functions of the products, and flexibility needed to adapt products to each country’s specific needs.
They also knew EIS could be relied on for efficiency and rapid roll out, thanks to the success of the earlier project for group benefits in North America.
EIS delivered: Even in this multi-country roll out with variable needs in each market, implementation costs dropped 70% for each new nation.
Powerful & Flexible Digital Transformations with EIS
Whether addressing a gap in the group benefits market in the US, or the challenges of efficiently expanding offers across multiple European nations, this carrier’s story proves that the right core system can make smart digital transformation a predictable, repeatable process.
Rather than trying to duct-tape transformation on top of outdated technology, this insurer opted for an updated, future-ready core system that could give them flexibility, agility, and scalability to sove their problems and help them move cost-efficiently into new market.