(Image source: Comtec homepage.)
EIS Group (San Francisco), a core and digital platform provider for insurers, has signed an agreement with Comtec, a Tel-Aviv-based insurance software and services provider, authorizing Comtec to offer EIS Group’s digital insurance platform. The platform includes solutions for customer engagement, digital experience management, underwriting, policy administration, billing, and claims.
Comtec provides strategic software solutions and services to the property/casualty insurance industry and serves the majority of insurers in Israel, for a total of sixteen clients in Israel and Cyprus. Comtec will undertake the sales, implementation, and support of EIS Group software solutions to help insurers in the region to modernize their business platforms to drive new business and engage more effectively with their customers, according to an EIS Group statement. EIS Group’s solutions support personal, commercial, accident and disability, and employee benefits lines of business of insurers worldwide.
“Our ability to offer EIS Group solutions within our markets creates unprecedented opportunities for insurers in the region,” comments Nadav Milner, CEO, Comtec. “Because the EIS platform is built leveraging advanced application design technologies and delivered using the latest continuous deployment approaches, insurers have unlimited potential to reshape their customer experience, improve operations, reduce risk, and accelerate the delivery of innovative products and services. I am excited by, and confident the offering will propel our clients into the next generation of insurance business.”
EIS Group reports that access to its platform will enable Comtec clients to:
- Achieve state-of-the-art digital enablement of their enterprises;
- Enhance their customer journeys with seamless digital, omnichannel experiences;
- Enable rapid development and deployment of new products to take advantage of market opportunities;
- Distribute products and services easily within traditional and new digital channels and consumer ecosystems;
- Establish an efficient, cost-effective insurance business platform.
“We are very pleased to have a partner that is so successful in this market and dedicated to providing solutions crafted to meet the unique needs of the market and its consumers,” comments Alec Miloslavsky, CEO, EIS Group. “We believe our digital insurance platform is perfectly suited to adoption in the region Comtec serves and it will help drive digital transformation in the market. This new regional expansion is the next step in EIS Group’s global growth and underscores both the flexibility and modernity of the EIS Group platform.”
Leveraging the Advantages of the Reseller Model
The reseller model is not common for marketing and selling modern core systems suites but presents certain advantages, particularly in regional markets where a strong incumbent vendor such as Comtec has expert knowledge and access to the market, according to Glenn Lim, EVP, Marketing and Alliances at EIS Group. “Most solution providers overlook smaller markets due to the investment required to service and support them,” Lim elaborates. “By utilizing a reseller model, smaller markets can receive the same benefits from modern technology as larger markets from local providers they already know and trust.”
“Comtec can now move its clients from its AS400 applications to a new generation of insurance core and digital solutions,” Lim adds. “The strength and flexibility of our digital insurance platform allow partners like Comtec to easily adapt our solution to regional and national requirements.”
Comtec is fully owned by Malam-Team, a publically-traded (TASE) tier-one IT provider, with over 3,000 IT professionals and an average annual revenue of more than $500 million. Comtec owns a subsidiary company, KCS (Knowledge Control Systems), a provider of GRC solutions for various industries, including insurance.
Editor’s note: Quotes from Glen Lim, Executive VP, EIS Group, were added after initial publication of this article.