EIS Group today announced EIS Suite™, the company’s family of insurance software solutions, has been selected as the new core systems platform for State Insurance (State), a leading New Zealand general insurance provider. The modernization initiative includes core system replacements for policy administration, billing and claims, as well as the addition of new omni-channel capabilities.
State will deploy EIS Suite applications, PolicyCore™, BillingCore™, ClaimCore™ and CustomerCore™ as a new digital insurance platform for improved customer servicing and greater operational efficiency. State currently manages over a million policies for more than 460,000 customers.
State is undergoing a transformation from a distribution model that currently includes walk-in branches to an all-direct customer model for its personal and commercial lines of business. The company needed a solution to replace legacy software and manual processes, and one that removed barriers to customers adopting digital channels. It sought a proven, modern, flexible solution with built-in products and automated workflows, an integrated customer data model, and omni-channel capabilities for anywhere, anytime customer engagement.
“Insurance has become a 24/7 operation,” said Craig Olsen, executive general manager for State. “Our customers are rapidly embracing call center and online mechanisms to discuss their insurance needs, make claims and pay bills and State excels in servicing through these channels. Our selection of EIS Suite significantly enhances our ability to deliver a market-leading customer experience. It also enables innovation in product and underwriting operations, improved claims management and more cost-efficient back office and IT operations.”
EIS Suite will provide State several business benefits, including:
- An integrated, real-time view of customer information that improves customer service response and effectiveness;
- Seamless handoff between channels—such as online, mobile and call center—for all types of interactions;
- Faster speed-to-market for product and pricing changes;
- Automated underwriting capabilities that streamline new business and policy servicing processes;
- Business process management (BPM) that reduces process cycle-times and transaction costs;
- Optimized claims handling to speed claims settlement and decrease loss costs;
- Business intelligence (BI) and reporting that supports continuous business performance improvement; and
- Easy integration with real-time and predictive analytics capabilities to improve risk selection and pricing.
“We are honored to be the core systems provider behind State’s business transformation initiative,” said Alec Miloslavsky, CEO and executive chairman for EIS Group. “With EIS Suite, State will be equipped with the leading-edge technology needed to drive innovation in customer engagement, products and processes while reducing costs and increasing efficiency. We welcome State as a new EIS Group customer and look forward to working together to achieve their goals.”
For more information about this implementation, EIS Group or EIS Suite, please contact Kevin Haydon, marketing and communications manager for EIS Group, at +1.845.797.2976 or firstname.lastname@example.org, or visit the company website at www.eisgroup.com.
About EIS Group
EIS Group (formerly Exigen Insurance Solutions) provides core insurance systems that enable business innovation and deliver long-term value to customers around the globe. Insurers deploy our multi-line software platform—the EIS Suite™—to achieve rapid, scalable solution implementations. The EIS Suite, comprised of PolicyCore™, BillingCore™, ClaimCore™ and CustomerCore™ modules, offers the industry’s most complete end-to-end capabilities, including rating, underwriting, policy administration, claims, billing, distribution management and CRM. EIS Group is headquartered in San Francisco, with operations in North America, Latin America, Europe, and Asia Pacific. Visit www.eisgroup.com for more information.
About State Insurance (State)
State Insurance has been providing New Zealanders with an extensive range of personal and business insurance for over 100 years. State is owned by IAG New Zealand Limited (IAG NZ), the largest general insurer in the country and a wholly owned subsidiary of Insurance Australia Group (IAG), which is headquartered in Sydney and is Australasia’s largest general insurance group. Visit www.state.co.nz for more information.