EIS Group: Breaking Shackles of Legacy Systems

Alec Miloslavsky, Chairman and CEO, EIS GroupAlec Miloslavsky, Chairman and CEO
Until recently, a big slice of incumbents in insurance industry did not question the existence of its age-old core system dubbed as ‘legacy’; they just continued to function with it. However, with the technology inching forward every second, these systems stand in a need to embrace modern IT systems to transform insurance distribution models and improve communication methods for better customer experiences. This dire need of property and casualty (P&C) and group insurers to break free from legacy technology constraints sparked the onset of EIS Group in 2001. Reflecting on the current industry scenario, Alec Miloslavsky, Chairman and CEO, EIS Group points out, “Property and casualty insurers around the globe are looking to improve business processes and bring more value to every customer interaction in order to drive retention and growth.” The company allows property/casualty and group insurers to leverage digital-ready, customer-centered core software solutions for various processes in the insurance business.

EIS Group empowers clients to get to market faster with the right products through the right channels by employing its customer-centered EIS Core Insurance Suite based on modern BuiltRight technology. The firm’s software suite encompasses soup-to-nuts elements of core system processes from policy administration, underwriting to customer experience management, claim and billing. The team at EIS Group has developed a set of core applications—PolicyCore, ClaimCore, BillingCore, and CustomerCore—for delivering a fully unified, yet modular design to manage the entire insurance lifecycle. These implementable and pre-integrated applications have been designed specifically to usher significant enhancement in the areas of end-to-end claims management, consolidated billing and finance, customer management and engagement, policy administration, and more.

At the application level, CustomerCore assists clients to build profitable customer relationships whereas PolicyCore accelerates market speed, responsiveness, and operational excellence for meeting insurance markets demands.

The conversion of policies from legacy systems to the new systems using the EIS Group conversion toolset has been a critical success

Further, BillingCore and ClaimCore offers advanced billing, cash and claims management bringing flexible, accurate, and smarter processes. The EIS Core Insurance Suite presents a true 360° view of customers for streamlining workflows, accelerating, and automating processes across all insurance tasks and activities in an organization.

In a recent case, CSAA Insurance Group, a AAA Insurer, wanted to head the path of technology transformation to bring all of their products on a single platform. They had 8000 different administration systems and over 1.5 million policies across 22 states and the District of Columbia. The implementation of EIS Group’s modern solutions for core administration helped the client to execute the retirement of their legacy policy and billing systems with one multi-line platform. “We have been able to take full advantage of the new generation of business capabilities, advanced technology and scalability built into the EIS Group solutions. The conversion of policies from legacy systems to the new systems using the EIS Group conversion toolset has been a critical success,” states Scott Hunt, General Manager of policy administration system transformation, CSAA Insurance Group.

The scintillating feature of the EIS Suite is the omnichannel flexibility it provides for enrollment and service across the customer life cycle. The firm’s suite allows organizations to access a central hub and single database to manage multiple lines, and have a single version of the truth in every interaction. EIS Group’s commitment to deliver technology-rich systems with enhanced insurance functionality, and platform sustainability has aided them to stay ahead of the curve.

One of the early birds to provide a ‘core in the cloud’ solution, the firm brings a blend of deep domain expertise, proven methodologies, technical know-how, and state-of-the-art technology for establishing stronger insurance businesses. From project planning and implementation to go-live, EIS ensures success at every step of the entire insurance lifecycle.