EIS Group: A Constraint-less Underwriting Solution

Alec Miloslavsky, CEO, EIS GroupAlec Miloslavsky, CEO
“Insurance customers now commonly make comparisons based on experiences in other industries,” says Alec Miloslavsky, CEO, EIS Group. Miloslavsky’s statement is corroborated when the customers-unaware of complexities in underwriting arena, demand immediate policy issuance. To cope up with the customer demand, an underwriter has to expedite the underwriting process while adhering to regulations, with error prone manually driven legacy systems. Aware of intricacies in underwriting arena, San Francisco, CA based EIS Group empowers Property/Casualty and Group insurers with solutions that encapsulate underwriting, customer engagement, and other key processes.

The cloud native Core Insurance suite from EIS is upgradable in accordance with the business demands. The most open and modern technology stack acts as a foundation for the modular and service based suite’s BuiltRight architecture. Customer oriented EIS assists the insurers to consolidate policy, claims, billing, and customer engagement across multiple insurance lines. The suite lends the underwriters 360 degree view of customer lifecycle through various communication mediums, which are web, mobile, phone, or chat. The platform’s single database maintains consistency of the information, eases the complexities in accessibility, and ensures transparency.

PolicyCore—an application within Core Insurance Suite infuses accuracy in underwriting operations, reduces process cycle times and thus ensures faster and better services for insurees. However, gaining unified view of all account-level and policy-level information and billing functions is an uphill task, but BillingCore consolidates the required information. Insurers can easily configure payment plans, business rules and streamline, automate, and expedite major billing activities-bill processing, account management, and cash management. The insurers are endowed to regulate the cash flow whereas managing the receivables is no longer a hassle as it is automated.

Insurance customers now commonly make comparisons based on experiences in other industries

With ClaimCore, EIS helps the insurers to manage the claims— the most crucial aspect of insurance business, and harness underwriting workflows, which are injected with claim events.

Building onto the injection of the information, ClaimCore endues the customers as well as claims teams with self-service and thus more claims are resolved accurately in less time. In case of property and casualty insurance, the application detects the potential fraud, draws the information from third party-tools, and finally ensures that false claims are signaled and sent for review. From managing the customers to streamlining the cash flow, EIS Core Insurance suite has been helping clients to build agile practices and better business environment. In one of the instances, a large multinational underwriter sought replacement of accident and health legacy systems, which were non-scalable and causing impediments in business growth. After deploying EIS Insurance Core suite for its group benefits business, the client could consolidate and ease the intricate pricing models due to product pricing tool of PolicyCore, an application within the suite. Eventually, the client was able to attune product offerings with pricing conditions in the market.

In the journey so far, EIS has created success stories akin to the major insurer’s and endeavored to help the clients in becoming more responsive to varying business needs. The company is aware of technological and market trends, and focused on incorporating them in the offerings to enhance the product experience. “The insurer/ policyholder relationship is radically recast from one in which customers pay and might file a claim, to one in which both parties are partners in the mitigation of risk,” states Miloslavsky. At the end of the day, EIS ensures to create win-win situation for the insurers as well as the customers through its offerings.