(Image source: Renaissance homepage.)
Renaissance Life & Health Insurance Company of America (Indianapolis), a national dental, vision, life, and disability insurance provider, has deployed EIS (San Francisco) cloud-based core system and digital technology to support innovation, expansion and rapid growth, according a vendor statement. The new cloud-based platform replaces multiple administrative and rating systems to bring product administration together under one system, increasing efficiency and accuracy while improving the customer experience, the statement says.
Renaissance has deployed the EIS platform’s fully integrated applications, PolicyCore, BillingCore, ClaimCore, CustomerCore, CustomerCore CEM, and EIS DXP to gain end-to-end business capabilities that support digital enablement at every stakeholder touchpoint.
In planning to replace its legacy technology environment, Renaissance sought to meet increasing broker and employer demand for simplified, multi-product offerings that are also easy to administer, according to the EIS statement. The insurer recognized the opportunity to leapfrog ahead with a new end-to-end system that incorporates all of its products and helps to automate and support its workflow from quoting and case installation to billing and claims processing, the EIS statement says.
Digital Platform for Outstanding Insurance Experiences
“Growth often presents opportunities to find more efficient and effective ways to operate,” comments Robert P. Mulligan, President and CEO, Renaissance. “The EIS solution allowed us to create an ecosystem unifying our core and digital operations across multiple lines of business. At the same time, it provides a digital platform to help us deliver outstanding insurance experiences for our brokers, employer groups and members today and into the future.”
The new platform will be used for creating new insurance products, quoting, enrollment, policy administration, billing, claims, and customer and broker management, EIS reports. It will also facilitate self-service processes to provide a differentiating level of service and efficiency, the vendor says.
“Renaissance represents the wave of the future,” comments Tony Grosso, Head of Marketing, EIS. “Renaissance was early to understand that innovation is tied to success in the marketplace and that a new generation, open-architecture platform can power the type of product and plan flexibility and broker- and customer-first engagement that wins new cases and drives retention.”
It is a testimony to Renaissance’s commitment to digital transformation that the COVID-19 pandemic accelerated rather than stymied progress on the project.
Highly Automated, Cloud-Based, Remote Delivery Environment
The EIS-centered transformation program is a high priority for Renaissance, according to Renaissance Chief Operating Officer Jeff Kolesar. “We were pleased that with the highly automated, cloud-based, and remote delivery environment provided by EIS, we did not experience any slowdown as an impact of the COVID-19 pandemic,” he says. “In fact, once we had managed our immediate organizational response to the pandemic, we were able to commit more resources and increase productivity, helping us maintain our projected schedule for this significant initiative.”
“EIS is honored to support Renaissance’s digital transformation initiative,” says Alec Miloslavsky, CEO, EIS. “The roll-out was a large undertaking not made any easier by the pandemic disruption. I am proud of the joint effort to overcome that disruption and our work helping Renaissance position itself for the future of the employee benefits market.”