Out-of-the-Box Functionality From EIS Group Enables Insurers to Achieve Greater Agility and Efficiency While Reducing Risk and Cost of Insurance Core Systems Replacement
San Francisco, CA (Jan. 28, 2015) – EIS Group Inc. is pleased to announce Version 6.2 of the EIS Suite™ which introduces Pre-Configured Solution Packages for commercial auto, property and general liability, complete with out-of-the-box functionality for speed-to-market and a lower total cost of ownership (TCO) for insurers looking to replace critical core systems.
“One of the primary drivers of core policy administration replacement for P&C insurers is the need to improve speed to market,” said Matthew Josefowicz, president and CEO of Novarica, a research and advisory firm focused on insurance technology strategy. “Systems with out-of-the-box content can be a key factor in delivering insurers a market advantage.”
EIS Suite, a modern core administration solution for policy administration, billing, claims and customer engagement, is designed to reduce the risk of a core system replacement by providing insurers out-of-the-box insurance processing capabilities with complete lifecycle transactional management. Via Pre-Configured Solution Packages, EIS Suite further leverages pre-assembled insurance products and modifiable, product definitions, related processes and interfaces to achieve rapid, efficient product deployments, improved operational efficiency through pre-built automation, greater ease of use, and simplified future software upgrades.
EIS Suite Version 6.2 features additional enhancements to improve processing accuracy and productivity, including:
- Optimized user experience;
- Greater configurability of billing rules;
- Improved single event/multiple claim management; and
- Enhanced commission strategy and plan management.
With this release, EIS Group also introduces plug-and-play reinsurance integrations. In Version 6.2, a new configurable interface allows reinsurance to be integrated directly into the underwriting process by supporting all the workflows required for open integration to external reinsurance software solutions. Benefits include reduced implementation timeframes and better risk management overall.
“Today’s insurers are faced with unprecedented levels of competition and customer expectations,” said Anthony Grosso, vice president of product marketing for EIS Group. “These dynamics are requiring core systems to be fully functional while also being flexible enough to support evolving business initiatives. Version 6.2 of the EIS Suite meets those requirements and marks an important step forward in the future of core administrative software where business users are empowered to advance strategic innovations for their companies.”
About EIS Group, Inc.
EIS Group (formerly Exigen Insurance Solutions), a global provider of insurance core systems, provides capabilities to insurers that enable growth and help them meet their goals for operational and cost efficiency. Customers deploy our multi-line platform to achieve rapid and scalable solution implementations. The EIS Suite™ component solutions – PolicyCore™, BillingCore™, ClaimCore™ and CustomerCore™ – offer 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. Please visit www.eisgroup.com for more information.
Source: EIS Group, Inc.