With pressure from annual sales and renewal cycles, and the competitive intensity of new markets, today’s carriers can’t afford to rest on their laurels.
Rapidly pushing new products, critical updates, or new business approaches through development without sacrificing quality is essential, and EIS coretech can help.
Insurers using modern legacy core systems have gotten used to 18- to 24- month turnaround times for new product launches, rates changes, underwriting updates, and other adjustments. This isn’t good enough anymore, and carriers know it.
If carriers do somehow manage to get to market quicker, it’s usually from complex workarounds like custom coding and manual testing, which can increase both expenses and technical debt.
EIS OneSuite™ has the architecture, data integration, automation, and overall SaaS flexibility necessary for fast, agile product development and reconfiguration. Processes that took months or weeks with outdated core systems might only require hours or even minutes with EIS as your foundation.
The microservices-based architecture of EIS OneSuite enables insurers to develop new products (or deploy product changes) without interrupting ongoing functionality or forcing you to change multiple system elements.
Because EIS manages platform maintenance and updates as your SaaS provider, your system is always up-to-date. This means your development team can focus on product innovation and deployment, rather than time-consuming foundational upkeep.
EIS core products include pre-built components and support for customizable automated workflows — like UI Builder in EIS Platform™, and Product Studio™ in PolicyCore® — to further minimize human effort. (One EIS customer saw a 75% drop in time to market for new products, while another shortened cross-system regulatory updates by two to three months.)
Open APIs provide seamless connections between new products and your existing ecosystem.
Talk to us today to learn more about how EIS helps ambitious insurers speed up their time to market.
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