EIS Group has released Version 6.2 of the EIS Suite, which introduces Pre-Configured Solution Packages for commercial auto, property and general liability, with what the vendor describes as out-of-the-box functionality for speed-to-market and lower total cost of ownership for insurers seeking to replace core systems.
“One of the primary drivers of core policy administration replacement for P&C insurers is the need to improve speed-to-market,” comments Matthew Josefowicz, president and CEO of Novarica (Boston). “Systems with out-of-the-box content can be a key factor in delivering insurers a market advantage.”
The vendor describes EIS Suite as a modern core administration solution for policy administration, billing, claims and customer engagement, designed to reduce the risk of a core system replacement by providing insurers out-of-the-box insurance processing capabilities with complete lifecycle transactional management. Through the addition of Pre-Configured Solution Packages, the vendor says that EIS Suite further leverages pre-assembled insurance products and modifiable, product definitions, related processes and interfaces to achieve rapid, efficient product deployments, improved operational efficiency through pre-built automation, greater ease of use, and simplified future software upgrades.
EIS Suite Version 6.2 features additional enhancements which the vendor characterizes as improving processing accuracy and productivity, including:
- Optimized user experience;
- Greater configurability of billing rules;
- Improved single event/multiple claim management; and
- Enhanced commission strategy and plan management.
EIS Group has also introduced what it calls plug-and-play reinsurance integrations with the current release. Version 6.2 provides a new configurable interface allows reinsurance to be integrated directly into the underwriting process by supporting all the workflows required for open integration to external reinsurance software solutions, the vendor says. Benefits include reduced implementation timeframes and better risk management overall.
“Today’s insurers are faced with unprecedented levels of competition and customer expectations,” comments Anthony Grosso, VP, product marketing, EIS Group. “These dynamics are requiring core systems to be fully functional while also being flexible enough to support evolving business initiatives. Version 6.2 of the EIS Suite meets those requirements and marks an important step forward in the future of core administrative software where business users are empowered to advance strategic innovations for their companies.”