EIS Group, a company offering core systems to insurers, has released version 6.1 of the EIS Suite for Group and Voluntary Benefits.
The EIS Suite 6.1 for Group and Voluntary Benefits offers an administration platform for group, voluntary, and worksite benefits that can be deployed as a suite or as standalone modules in the cloud or on premise. The suite is built on an open platform that allows integration with exchanges, portals, mobile applications and call centers.
The EIS Suite 6.1 can extend the application without the development of custom code. The suite also offers recordkeeping from group to individual; guarantee issue and individual underwriting; a library of pre-configured product accelerators; a single database with reuse of data from quote to claim; the ability to bill groups or individuals; claims supported by world class workflow and rules; and open technology built to connect with external systems.
"Insurance companies trying to compete in today's benefits market are facing more than just dramatic changes in distribution channels," said Robert McIsaac, principal, Novarica. "New enrollment systems and processes, the transition from traditional group benefits to plan-member specific voluntary offerings, coupled with consumer demands for better product availability and pricing, means insurers need to address their core systems by introducing modern, open technology which will positively affect the product manufacturing and deployment cycle, create seamless interactions to the outside world, and bring all of the data back in to support operations."
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