It’s a new day for insurance technology — but carriers with legacy core systems that lag behind the pace of change can’t keep up with the most exciting developments, prompting the need for a core digital transformation.
That said, a core digital transformation is no small thing. It can seem daunting, but choosing EIS as your coretech partner removes potential headaches from the process and prepares insurers for the future.
As the need for a customer-centric approach to insurance begins to overtake policy-centric and product-centric models, new technologies emerged to support this evolution. These solutions digitize, streamline, and improve critical processes, from enrollment data processing to claims fraud detection.
You’re thinking, “Sounds great. How is this a problem?” It’s simple and unfortunate: The legacy and “modern legacy” core systems many insurers still use aren’t built to support the data flow of these solutions.
Older core technology lacks the capacity for seamless integration, so new solutions can only be implemented on top of outdated cores through complex, resource-inefficient hard coding. That patchwork approach yields uneven performance and unsatisfying customer experiences.
Digital transformation is a major undertaking no matter what. Upgrading to a modular cloud-native coretech platform like EIS OneSuite™ will make it much easier, as you can transform at your ideal pace.
Want to implement all EIS OneSuite core products and modules together? The platform’s flexibility and scalability allow that. Prefer to start with our baseline solutions (EIS Platform™ and CustomerCore™) and add other specific products when you need them? That’s also doable because of the coretech’s modular setup.
EIS works together with your team and our trusted implementation partners to make sure the transformation goes smoothly, according to your needs.
The range of EIS OneSuite modules, from EIS Platform to process-specific solutions like PolicyCore®, ClaimCore®, BillingCore®, and EIS DXP®, empowers a thorough transformation that improves backend and customer-facing operations.
Open architecture and 9,000+ APIs enable seamless connections between EIS, internal, third-party, and partner systems that form powerful digital ecosystems.
With the cloud-native EIS OneSuite, core transformation becomes an ongoing process, evolving and scaling up as your business grows and needs change.
UK-based personal lines insurer esure implemented and deployed their initial rollout of EIS OneSuite in just 12 months, and soon saw results in numerous operations: Claims processing and sales cycles became 30% faster, while time to market for new products dropped by 75%.
EIS OneSuite opens carriers up to numerous revenue-building opportunities: expanded multi-channel distribution, integration with the latest insurtech solutions, business partnerships involving innovative new products (like digitally embedded insurance), and more.
Even insurers that limit their core transformation to the EIS OneSuite baseline (EIS Platform and CustomerCore) can radically improve customer experiences. For example, comprehensive transactional data from CustomerCore and event-driven workflows configured in EIS Platform enable delivery of relevant offers tied to major life events (childbirth, home purchases, etc.) through customers’ preferred channels.
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