(Image credit: Rigo Peter.)
EIS Group (San Francisco), a provider of core insurance systems and digital solutions, has introduced the CoreVelocity delivery approach aimed at delivering sustainable insurance core and digital solutions faster, with less risk and cost. The new approach combines implementation methods, tools, and accelerators via a cloud-based managed service as unified delivery approach.
EIS characterizes CoreVelocity as the result of the vendor’s extensive experience delivering multi-line core systems to benefits and property/casualty insurers globally. The New delivery approach incorporates what EIS Group calls state-of-the-art practices as a modern DevOps solution for software development, test and delivery and leverages advanced cloud service environments provided by AWS or Microsoft Azure.
EIS Group describes the following benefits to insurers through the CoreVelocity delivery approach:
Accelerates time to value: Customers can get new pre-production systems up and running quicker, get work done faster using parallel work streams, and deliver user capabilities frequently to improve project alignment between IT/business.
Improves quality: High quality solutions and lower cost implementations are realized because a single environment is used across the entire project, solution testing is faster, and defects are identified earlier and resolved quickly.
Ensures ongoing sustainability: Projects stay current on the latest version of base software during solution implementation and subsequent solution upgrade time, expense and risk is greatly reduced.
“CoreVelocity brings together a powerful package of capabilities that make it easier for our clients to achieve their transformation goals,” comments Jim Caruso, executive VP, worldwide professional services, EIS Group. “By providing a unified environment for their EIS Suite solution implementations, one that is the same environment used for our internal R&D, our clients can get to market quickly, have the very latest EIS Suite business capabilities at go-live, and can easily add new capabilities so they can realize sustaining value from their implementation.”
EIS enumerates the key components of the CoreVelocity delivery approach as follows:
- An Agile software development methodology.
- An integrated requirements management tool.
- A cloud-based, DevOps environment featuring continuous integration/continuous delivery (CI/CD).
- A patent-pending automated testing framework.
- A starter kit of integration tools and templates.
EIS Group illustrates the value of CoreVelocity through the experience of clients who have used the new approach’s components to accelerate their implementations and achieve business value.
For example, the vendor relates that Liberty Mutual Insurance’s Benefits organization applied CoreVelocity to a cloud-based policy administration system roll-out for six new Life, Disability and A&H products on a quote-to-claim platform, which it was able to complete within seven months CSAA Insurance Group used the EIS cloud-based automated testing framework to achieve a reduction in regression testing time and production defects. This allowed the company to get more capability into the market by producing more tests at a faster rate and reduced costs, the vendor reports.