Learn how Wellfleet redefined voluntary benefits with EIS, leveraging the innovative Lighthouse platform to reduce claims turnaround time and transform customer experiences.
Ecosystem Enablement
A Better Insurance Ecosystem Platform, Period.
Ecosystems are one of the most important keys to insurance innovation.
From integrations with the latest insurtechs to connecting with smart devices, generative AI, and data pools, these strategic partnerships let carriers create better products, embrace emerging technologies, better-manage risk, and deliver more value to their customers.
But if an insurer is running on outdated coretech, creating a true, future-facing ecosystem is close to impossible.
Legacy Tech Keeps You Stuck in the Disconnected Past
Older core systems were designed to make key insurance processes more efficient, but they weren’t built with smart business connections in mind. Because of this, they don’t have the open architecture needed for real-time data connections, and therefore can’t form the robust ecosystems customers crave.
For example:
Group benefits insurers find it difficult to integrate with service providers like telemedicine companies, financial wellness and management tools, pharmacy services, and chronic illness management programs.
Property and casualty carriers can’t align themselves with cutting-edge insurtechs and other partners to provide services like risk mitigation via connected smart-home devices, telematics-driven auto insurance, digital repair networks, or predictive weather analytics.
Term life insurers won’t have seamless integrations with policyholder data sources (think fitness apps and wearables), genetic testing services for preventive healthcare, long-term care providers, or financial wellness programs.
Sure, carriers running on outdated core systems can set up some version of these connections, but doing so is a major struggle. Point-to-point integrations and other clumsy techniques required with legacy systems are resource-intensive, costly, and don’t guarantee reliable performance.
An EIS Foundation = A Powerful Ecosystem
Unlike legacy and modern legacy systems that inhibit growth and innovation, EIS Suite™ provides the strong connective tissue needed for an insurance ecosystem.
How EIS Empowers Ecosystem Enablement
The 9,000+ APIs that come with EIS Suite allow insurers to seamlessly integrate with data providers, insurtechs, price comparison websites, distribution channels, financial systems, ancillary product vendors (e.g., to sell dashcams alongside auto insurance), and many other third parties.
EIS Suite APIs and open architecture — along with our continuous integration/continuous development (CI/CD) and deployment approach — allow for faster implementations and support faster test-and-learn development cycles.
Because our coretech is microservices-based, it’s easier for carriers to scale their platforms and remain flexible in a constantly evolving industry.
EIS Suite enables 100% data fluidity, enabling ecosystem partners to share data in a consumable yet secure way.
Growth often presents opportunities to find more efficient and effective ways to operate. The EIS solution will allow us to create an ecosystem unifying our core and digital operations across multiple lines of business and give us a platform to deliver outstanding insurance experiences for our brokers, employer groups and members today and into the future.”
–Robert P. Mulligan, Former President and CEO, Renaissance Life and Health
Ready to Join the Insurance Ecosystem Revolution?
Get in touch with us today to see more about how EIS lets you control your own destiny through ecosystem connections with key partners.