Old infrastructure dating back 10, 20, or even 30 years holds many insurers back from truly embracing the future and creating smarter business models. A bold shift to modern infrastructure and future-focused SaaS will set the stage for insurers to realize their true potential.
Any house with a crumbling foundation is bound to collapse eventually… likewise for outdated core systems. Even “modernized” legacy infrastructures are still based on old setups and ways of doing things, inherently limiting how insurance can interact with the structures and frameworks of today’s (and tomorrow’s) modern technology.
Over-the-hill core systems can’t integrate with digital solutions unless you invest time in complex hard-coding, and these 21st-century programs won’t work as well when backed by systems designed in the last (20th) century. Modern legacy systems’ integration shortcomings also prevent core systems from obtaining essential data from disparate sources or from working in tandem with other solutions in a way that customers simply expect online data to operate. Silos complicate back-end carrier operations and create customer-facing issues — some so significant that they’re driven to shop elsewhere.
Lastly, old infrastructure complicates cloud migration. Applications built for legacy technology can be “lifted-and-shifted,” but they’ll never match the performance of truly cloud-native architecture.
EIS Suite™ empowers insurers to embrace cloud-nativity and bring their infrastructure firmly into the digital age. Carriers who use EIS become customer-centric, more flexible and scalable, boost operational efficiency, can embrace the latest insurtech solutions, and develop competitive products.
EIS Platform™ enables carriers to develop applications, user interfaces, and automated event-driven workflows for critical processes, while CustomerCore™ provides a comprehensive, real-time unified view of customer data.
EIS Platform and CustomerCore seamlessly integrate with other EIS Suite core products — PolicyCore®, BillingCore®, and ClaimCore®— plus your other technologies of choice through open APIs. Just like that, you’ve created a cloud-based insurance ecosystem.
Data fluidity between these systems prevents siloing, maintains data integrity, provides an optimal environment for new product development, and helps increase time to market.
EIS DXP® (Digital Experience Platform) empowers the creation of self-service options for customers, brokers, insureds, and other personas through intuitive, easy-to-use portals tailored to each group’s needs.
While core transformations can seem daunting, they’re nothing compared to the problems you’ll experience if you stick with modern legacy over the long haul … especially the ground you’ll lose to competitors over the next few years. Talk to us today to learn more about how EIS coretech can empower and future-proof your specific operations.
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