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Transform Your Agency from Laggard to Leader

California Broker  |  October 6th, 2022

Life and health brokers who address their client’s needs and expectations by embracing technology and working with tech-savvy carriers will take the lead. As a broker, you can set yourself apart as a digital leader in a rapidly changing market that’s rife with insurtechs and other new entrants. Giving your customers what they really want is critical to keeping an edge.

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FCA Consumer Fairness Duty: Is fairness an obligation or an opportunity for insurers?

Insurance Edge  |  October 3rd, 2022

The simple truth is regulatory changes such as General Insurance Pricing Practices (GIPP) and the Fairness Duty shouldn’t be as hard hitting as they will be. It’s simply asking insurers to make pricing, product, cover and experiences more fair as well as make better provision for vulnerable customers. It shouldn’t be a tough ask but it will be, especially when it comes to insurers delivering informed, timely communications through digital channels.

That’s why, with the October deadline for implementation plans looming, I’d like to reiterate why insurers should treat these regulatory changes as an opportunity and not merely an obligation.

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Why insurers should lead the battle against climate change

Insurance Intel |  September 2022

Rory Yates, EIS’ head of strategy for EMEA and APA, discusses how insurers can lead the battle against climate change and the major obstacle that’s getting in their way.

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How Insurers Can Reach Millenials Who Rent Their Lifestyle

Insurance Edge  |  August 12th, 2022

Opinion piece by Bob Meier that takes a look at the insurance future where more people under 40 will rent their lifestyle, rather than own anything.

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EIS CEO Alec Miloslavsky on the Acquisition of Metromile EBS

Insurance Innovation Reporter  |  August 12th, 2022

Miloslavsky shared with IIR the thinking behind the acquisition, what it brings to the vendor’s industry value proposition, and how EBS would be integrated into the EIS enterprise.

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Meet Alec Miloslavsky, Founder and CEO at Cloud-Native Digital Insurance Platform: EIS

TechRound  |  August 2nd, 2022

With openness, agility, and flexibility at its core, EIS’ cloud-native digital insurance platform has been specifically engineered to remove every obstacle and give insurers the freedom to both pursue and achieve their most important strategic goals.

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Why the Great Resignation Could Drive a Renaissance in Workplace Benefits

Finance Derivative  |  July 9th, 2022

While slowing considerably, the pandemic has spurred a boom in self-employment and career hopping, as people shift employers in search of greater opportunity and work/life balance. But, in taking these bold steps, employees typically give up their health, dental, life, disability and other employer-led insurance benefits, many of which are expensive and difficult, if not impossible, to replace outside of traditional employee benefits programs.

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EIS’s Miloslavsky on the state of digitisation in insurance

InsurTech  |  June 18th, 2022

Alec Miloslavsky, CEO of digital insurance platform EIS, tells us about the pace of digitisation in insurance and what it takes to make change happen.

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Embedded Insurance 2.0: How it Will Change Customer Relationships Forever

Global Banking & Finance Review  |  June, 2022

To escape the commoditization of insurance, insurers must create more positive, frequent, and valuable customer interactions. These, in turn, can lead to longer-lasting and profitable customer relationships. And that is exactly what Embedded Insurance 2.0 is helping them to do.

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Interview with Alec Miloslavsky, CEO, EIS

Modern Insurance Magazine  |  March 7th, 2022

The way consumers want to work, live and engage with insurance brands is evolving, EIS CEO Alec Miloslavsky tells Modern Insurance. New opportunities are arising for insurers that operate more like Apple and Amazon.

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EIS: Insurers Bridging Borders With a “One Product for Many Countries” Approach

Fintech Times  |  March 3rd, 2022

Brad Worth explains challenges multinational insurers face entering new country markets and how new modular, coretech approaches to product design and distribution provide a solution.

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Ageas UK partners with EIS to drive digital transformation

Insurance Business  |  February 23rd, 2022

Ageas UK said that the transformation program will “provide the step-change for the company to fulfill its digital ambition, with an infrastructure that will allow the business to operate in a fast, simple, and agile way…”

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2022 outlook for life and health insurance sector

Benefits Pro  |  January 7th, 2022

Samantha Chow outlines how four major trends will shape the life and health insurance sector in 2022 and dictate the ability of carriers to remain competitive.

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EIS, a core and digital platform provider for insurers, today announced digital pioneer Rory Yates as Head of Strategy for EMEA. The region is fast becoming a thriving market for EIS as it makes its second key senior hire in six months. Yates is set to help the company grow operations and go-to-market working in close collaboration with partners and clients. 

Yates has a diverse background, with 24 years of experience across sectors such as technology and banking at industry heavyweights WPP, Cognizant and Santander. He joins EIS from DXC where he transformed client businesses with in-depth analytics & AI, consulting, UX & UI and digital engineering. 

He has long been an industry trailblazer, leading the delivery of Cahoot, the UK’s second digital bank, into the UK at 22 years old. His interest in the insurance sector was solidified at Monitor Media, a pioneer in experience design within insurance, and then at Ninety, which helped the global insurance sector innovate to keep up with  the constantly evolving digital ecosystem. 

Alongside his role helping insurers thrive in new regulatory landscapes and succeed in a digital world, Rory will also focus on ESG. Yates has two decades of experience in ESG, most recently founding digitalpoverty.co.uk and leading the formation of the E-Alliance at COP26, as well as the development of PAS440 with the British Standards Institute.

Commenting on his appointment, the new Head of Strategy said: “As EIS continues to expand across Europe, I’m excited to help the company transform insurance companies and create modern, customer-first offerings, and build the true ecosystem insurer with our strategic partners.” 

The new appointment marks another milestone in EIS’ EMEA mission to enable insurers to innovate like a tech company. The company entered the UK market in 2020, opened its London headquarters, and quickly established well-known customers such as esure and Ageas UK. EIS will help transform operations at these key players, replacing their core systems with platforms that serve today’s increasingly demanding customers and government legislation. With the appropriate technology in place, insurers can fulfil their digital ambitions and move from out-dated legacy tech. 

Yates will speak on his vision of how platform partnerships can redefine the insurance customer journey on a roundtable at the Insurtech Insights’ London conference on March 16. He recently released a white paper on how cloud-native insurance platforms will power the industry’s true transformation.

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Ageas, un des leaders britanniques de l’assurance automobile et habitation, annonce avoir choisi EIS, éditeur d’une plateforme digitale et transactionnelle dédiée aux assureurs, pour soutenir sa transformation. Une fois concrétisé, ce programme représentera un changement majeur pour la compagnie. Celle-ci pourra accroître son agilité et développer ses capacités exceptionnelles en matière de formulation de propositions, d’évaluation des risques et de tarification. Ageas sera alors en mesure de créer rapidement des solutions sur mesure pour ses courtiers.

La nouvelle plateforme permettra aux clients de profiter de bout en bout d’expériences digitales, et notamment de capacités disponibles en libre-service, dans l’immédiat et sur le long terme.

Caroline King, directrice des opérations client chez Ageas UK : « Ce programme représente notre plus grand investissement dans le secteur à ce jour, et soutiendra notre progression vers un modèle d’assurance digitale de nouvelle génération. En investissant dans ce que le marché a de mieux à offrir, à l’image de la plateforme flexible EIS, nous nous approprions de solides fonctionnalités qui nous permettront de proposer des solutions d’exception à nos courtiers et clients, et d’offrir un service remarquable là où cela compte. »

Ageas se lance aujourd’hui dans un programme de transformation qui donnera naissance à un écosystème digital de pointe, tout cela en tirant parti de processus et technologies de premier plan. Cette initiative permettra entre autres de livrer une nouvelle plateforme de technologies d’assurance basée sur le cloud, ouverte, et prenant en charge des microservices et des API. 

Une fois mise en œuvre, l’architecture sera le socle de la transformation digitale d’Ageas. Pour garantir l’agilité de la compagnie et s’adapter à l’évolution des besoins de ses courtiers et de ses clients, EIS propose une plateforme hautement configurable et basée sur des règles. Celle-ci soutient l’évaluation des risques et l’innovation en matière de nouveaux produits, tout en assurant la rentabilité des +opérations de maintenance et de support en continu.

Dans l’optique de proposer une expérience client sans accroc, Ageas déploiera les applications pleinement intégrées de la plateforme d’EIS, à savoir PolicyCore®, BillingCore®,CustomerCore™, CustomerCore CEM™ et EIS DXP®. La société bénéficiera ainsi de fonctionnalités professionnelles complètes soutenant sa digitalisation sur chaque point de contact. Ces applications sont accessibles via EIS CloudCore, la plateforme SaaS d’EIS.

« Il est formidable de savoir que nous aidons Ageas à s’imposer comme l’une des principales compagnies d’assurances des particuliers en révolutionnant son parcours client », explique Alec Miloslavsky, CEO d’EIS.  « La société est consciente que pour réussir à l’heure du tout digital, les assureurs doivent accélérer leurs projets de transformation digitale pour proposer l’expérience proactive et omnicanal que recherchent leurs courtiers et clients. Nous sommes donc ravis de les accompagner sur cette voie. »

À propos d’Ageas UK

Ageas UK , un des principaux assureurs généralistes du Royaume-Uni, propose une couverture à plus de quatre millions de clients. Par l’intermédiaire de courtiers et de ses propres marques, la compagnie offre des produits d’assurance automobile, habitation et pour animaux de compagnie. Ageas UK a été nommé Compagnie d’assurances des particuliers de l’année 2021 dans le cadre des prix British Insurance Awards et Insurance Times Awards. La société a également reçu l’accréditation convoitée Service Mark de la part d’Institute of Customer Services. Ages (UK) Limited est une filiale en propriété exclusive d’Ageas Group, une société cotée à la bourse de Belgique.

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Ageas, one of the UK’s leading motor and home insurers, announced today that it has appointed EIS, a core and digital platform provider for insurers, to support its digital business transformation programme. This programme will provide the step-change for Ageas to fulfil its digital ambition, with an infrastructure that will allow the business to operate in a fast, simple, and agile way, ultimately fuelling its standout capabilities in proposition development, underwriting and pricing.

The benefits of the new platform will also allow Ageas to build tailored insurance solutions at pace for brokers and to simplify insurance for its customers, providing end-to-end digital-first experiences including the ability to seamlessly self-serve.

Caroline King, Customer Operations Director at Ageas UK said: “In what is our largest infrastructure investment in the business to date, this digital transformation programme will power us to the next level of digitally-enabled insurers. By investing in the best the market has to offer, like this flexible EIS platform, we are unlocking significant capability that will allow us to offer standout solutions for our brokers and customers with an ambition to deliver brilliant service where it matters.”

Ageas is embarking on a transformation programme that will result in a cutting-edge digital ecosystem, leveraging market leading processes and technology. This programme includes the delivery of a new insurance technology platform that’s cloud-enabled, open, and compatible with microservices and API stacks.

Once implemented, the architecture will be the foundation of Ageas’s digitalisation process. To maintain agility and support brokers’ and customers’ evolving needs, EIS provides an intuitive, highly configurable, rules-based platform for underwriting and new product innovation, while managing cost efficiencies for ongoing maintenance and support.

To create a seamless customer experience Ageas will be deploying the EIS platform’s fully integrated applications, PolicyCore®, BillingCore®, CustomerCore™, CustomerCore CEM™ and EIS DXP® gaining end-to-end business capabilities that support digital enablement at every touchpoint. The applications are accessed via EIS CloudCore, EIS’ software-as-a service platform.

“It’s fantastic to know we are helping Ageas cement its place as one of the UK’s leading personal lines insurers through the reinvention of the customer journey” explained Alec Miloslavsky, EIS CEO.  “Ageas has recognised that for insurers to thrive in this digital-first world, they need to accelerate their digital transformation projects to deliver a proactive, omnichannel experience that their brokers and customers are looking for and we’re delighted to be joining Ageas on this journey.”

About Ageas UK

Ageas is one of the largest General Insurers in the United Kingdom, providing motor and home insurance to over four million customers. With a focus on Personal lines insurance distributed through brokers and aggregators, Ageas was voted by the industry as “Personal Lines Insurer of the Year 2021” at both the British Insurance Awards and the Insurance Times Awards. Its purpose is clear, to understand people + simplify insurance, and this was further evidenced by Ageas’s achievement of the Institute of Customer Service coveted Service Mark accreditation in 2021, and being certified by the Top Employers Institute as a “Top Employer” for 2022. Ageas (UK) Limited is a wholly owned subsidiary of Ageas Group, which is listed on the Belgium stock exchange.

Press Contacts

Ageas UK: Maggie Hill. Tel, 02380 313147, E-mail press.uk@ageas.co.uk
EIS: Jake Galland. Tel, +44 (0)7780 866 874, E-mail jgalland@positivemarketing.com

Ageas (UK) Limited registered office: Ageas House, Hampshire Corporate Park, Templars Way, Eastleigh, Hampshire, SO53 3YA. Registered number: 1093301. Registered in England and Wales.
www.ageas.co.uk

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EIS, éditeur d’une plateforme digitale et transactionnelle dédiée aux assureurs, commémore le premier anniversaire de l’expansion de son offre EIS OneSuite™ aux organismes d’assurances vie et retraite complémentaire avec un ensemble de nouveaux produits dotés de fonctionnalités premier plan. L’éditeur révèle également que deux grands groupes d’assurance américains ont d’ores et déjà déployé ces produits, tandis que d’autres compagnies de différentes régions (APAC, R-U et EMEA) sont actuellement aux stades de la démonstration de faisabilité ou de l’achat.

Depuis l’annonce en février 2021 du lancement de son offre destinée aux organismes d’assurance vie et retraite, la méthodologie de développement accéléré d’EIS a donné lieu au déploiement de nouvelles fonctionnalités couvrant plusieurs grands segments de produits : l’assurance vie universelle collective, l’assurance vie entière collective, et l’assurance temporaire décès collective.

Avec le portefeuille d’offres d’assurance vie d’EIS OneSuite, les assureurs bénéficient : d’un vaste portefeuille de fonctionnalités innovantes basées sur une architecture de microservices ; de solutions simples d’utilisation aussi bien pour les agents que pour les équipes d’assistance et les clients grâce à des applications dédiées basées sur des personas ; de modèles préconfigurés ; de contenu réutilisable ; ainsi que d’outils low-code/no code flexibles. Présentation des fonctionnalités innovantes :

• Illustrations: des illustrations préconçues montrent la performance de la police au fil du temps. Les gestionnaires administratifs, agents/courtiers et consommateurs bénéficient également de puissantes capacités d’analyse et de modélisation pour visualiser l’impact potentiel de certaines décisions financières et des aléas de la vie.
• Tests de fiscalité: le test des polices en temps réel permet de vérifier que celles-ci remplissent les conditions réglementaires nécessaires pour être qualifiées d’assurance vie, et d’éviter que les consommateurs ne paient plus d’impôts que nécessaire.
• Gestion de la valeur en espèces: cet outil de gestion des flux de trésorerie basé sur des microservices permet de calculer en temps réel la valeur en espèces d’une police, et d’accéder à des prêts via des portails en libre-service destinés aux assurés, agents/courtiers, et de service client.
• Avenants: huit des avenants aux polices d’assurance les plus populaires et fréquemment sollicités sont disponibles d’office.
• Synthèse de la couverture: grâce à ses capacités analytiques, cet environnement de travail puissant et basé sur des personas offre une vue unique et centralisée des primes, renouvellements, changements et conditions de prêt pour tous les types de marchés, et offre la possibilité d’obtenir un devis pour n’importe quel produit depuis une seule page.

« Le timing fait tout, et la réponse extrêmement favorable du marché à notre arrivée et à notre offre confirme que nous répondons aux besoins contemporains », déclare Samantha Chow, Chargée des assurances vie, maladie et retraite complémentaire chez EIS. « Pour attirer et fidéliser leurs meilleurs talents à l’heure de la Grande Démission, les employeurs s’adressent à leurs organismes d’assurance professionnelle pour les aider à élaborer des formules plus compétitives. Pour les assureurs, l’ajout de nouveaux produits et types de produits actuellement absents de leurs offres de couvertures représente un énorme défi. Ainsi, à cause de contraintes liées à leurs technologies existantes, ils sont par exemple incapables d’élargir leur portefeuille de produits au-delà de l’assurance vie individuelle pour se lancer sur le marché florissant de l’assurance collective. »

« Grâce à notre expertise sur le marché de l’assurance santé collective, nous sommes en position idéale pour proposer une solution évolutive résolvant les problématiques des assureurs pénétrant ce nouveau marché, ou étoffant leur offre de produits », conclut-elle.

« Les organismes proposant des assurances vie, retraite complémentaire et maladie remarquent généralement que la richesse de leur offre de produits d’épargne est un facteur essentiel à leur modernisation et pour adopter de nouveaux modèles économiques », explique Robert McIsaac, Chargé de recherche sur les produits d’assurance vie, retraite et maladie chez le cabinet d’analystes Aite-Novarica Group. « Les fonctionnalités telles que celles que propose EIS aujourd’hui représentent des options supplémentaires, à l’heure où ces assureurs prennent des décisions d’investissement potentiellement déterminantes afin d’étendre leur portefeuille aux  en matière d’offres de couverture à long terme. »

Tout au long de l’année 2021, des cabinets d’analystes du monde entier ont loué la croissance et la puissance de la solution coretech d’EIS pour le monde des assurances vie et retraite complémentaire au sein de leurs rapports.

La société a été reconnue en tant que :

• « Leader » du Magic Quadrant™ 2021 de Gartner® dédié aux systèmes de gestion de polices d’assurance vie pour l’Amérique du Nord*.
• « Prétendant » au sein du rapport Novarica Market Navigator dédié au marché des systèmes de gestion des indemnisations d’assurance vie/maladie.
• « Technologie d’exception » au sein du rapport sur les Systèmes de gestion de polices d’assurance vie pour l’EMEA de Celent.
• « Technologie d’exception » au sein du rapport sur les Systèmes de gestion de polices d’assurance vie individuelle pour l’Amérique du Nord de Celent. Le cabinet de conseil note également que « bien que l’offre PolicyCore for Life & Annuity soit encore jeune en matière de fonctions d’assurance vie individuelle, cette solution cloud-native propose un large éventail de capacités de gestion de polices d’assurance, ainsi que de puissants outils de configuration permettant d’intégrer de nouvelles fonctionnalités selon les besoins. Elle bénéficie en outre d’une intégration avec la plateforme digitale DXP et d’autres solutions d’EIS OneSuite. Nous nous attendons donc à ce qu’elle séduise toujours plus de clients au cours des années à venir. »

Sur les 12 derniers mois, les effectifs de R&D et chargés des produits d’assurance vie d’EIS ont plus que doublé. Cet investissement porte déjà ses fruits, puisqu’aux États-Unis, deux nouveaux assureurs à l’échelle nationale sont actuellement en phase de mise en œuvre des solutions d’assurance vie universelle et vie entière de l’entreprise.

« Pour cette année, nous avons hâte de développer nos fonctionnalités d’assurance vie (y compris nos produits d’assurance vie individuelle et d’assurance retraite), et de permettre à d’autres organismes visionnaires de découvrir la valeur ajoutée unique de notre plateforme haute vélocité. »

*Gartner, Magic Quadrant for Life Insurance Policy Administration Systems, North America, 10 août 2021, Richard Natale, Rajesh Narayan

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EIS, a core and digital platform provider for leading insurers, commemorated the one-year anniversary of the expansion of its core EIS OneSuite™ to carriers in the life and annuities markets by announcing a slate of new life insurance products with a host of industry-leading features, two United States national insurers already implementing the products and additional insurers in APAC, UK and EMEA in proof-of-concept or other buying cycle stages. 

Since announcing its life and annuities launch in February of 2021, EIS’ fast-track development methodology drove a rollout of new capabilities covering major product segments, including Group Universal Life, Group Whole Life, and Group Term Life. 

The EIS OneSuite of life offerings provides carriers with a broad range of innovative microservice features, a high degree of agent, service, and customer usability through dedicated persona-based applications, out-of-the-box templates, reusable content, and flexible low code/no code tools. Innovative features include:

• Illustrations: Built-in graphical illustrations that demonstrate policy performance over time, as well as strong analytics and modeling capabilities, which enable policy administrators, agents/brokers, and consumers to visualize how financial decisions and life events can impact future performance.
• Tax Testing: Testing of policies in real-time to make sure they meet the definition of life insurance under regulation 7702 and ensure consumer tax efficiency.
• Cash Value Management: A cash flow management microservice tool that provides real-time cash value calculations and loan access through self-service portals for policyholders, agents/brokers, and customer service.
• Associated Riders: Eight of the most popular and commonly requested life insurance riders are available out-of-the-box. 
• Coverage Summary Screen: A robust, persona-based agent workspace that provides a singular view of rates, renewals, changes, and loan terms for all market types, driven by analytics, with the ability to quote any product from a single page. 

“Timing is everything and the extremely positive market response to our entry and offering is all about addressing today’s needs,” says Samantha Chow, Global Market Lead for LA&H at EIS. “To attract and retain top talent, in the great resignation era, employers are turning to workplace benefits insurers to help them create more competitive packages. It is a huge challenge for insurers to add new products and product types they don’t currently have in their coverage libraries. Insurance providers today may offer individual life, but want to enter the growing market of group and are unable due to legacy constraints.” 

“With our expertise in the workplace benefits market, we are well-positioned with a market-ready, scalable solution that solves carriers’ challenges entering this new market or creating products they wouldn’t have offered in the past,” concluded Samantha Chow.

Robert McIsaac, head of Life, Annuities and Benefits at analyst firm Aite-Novarica Group commented: “Carriers in the life, annuities and benefits lines of business generally find that strong support for cash accumulation products is a critical component on their modernization journey toward supporting future state business models. Capabilities such as what EIS is adding now provide an expanded set of options for carriers to consider as they make potentially once-in-a-generation investment decisions for supporting long liability tail businesses.”

Throughout 2021, analyst firms globally have recognized the growth and strength of EIS’ coretech solution for the life and annuities industry within their reports. 

EIS was named:

• A “Leader” in the 2021 Gartner® Magic Quadrant™ for Life Insurance Policy Administration Systems, North America*.
• A “Contender” in the Novarica Market Navigator for Life/Health Claims.  
• A “Technology Standout” in Celent’s Policy Administration Systems for Life Insurance, EMEA Edition.
• A “Technology Standout” in Celent’s North American Policy Administration Systems, Individual Life Insurance Edition, which stated: “While PolicyCore for Life & Annuity is still young in terms of individual life capabilities, this cloud-native solution offers a solid set of policy administration capabilities and strong configuration tools to build additional functionality as needed—augmented by the DXP digital platform as well as other solutions in the EIS OneSuite. We expect to see it gain clients over the next few years.”

In the last year, EIS has more than doubled its product and R&D teams dedicated to life. That investment is already paying dividends with two new national account carriers in the US currently implementing EIS’ universal life and whole life solutions. 

“As we embark on 2022,” added Chow, “we are looking forward to building on our life capabilities, including individual life products and annuities, and introducing the unique value of our high-velocity platform to additional forward-looking life insurance companies.” 

*Gartner, Magic Quadrant for Life Insurance Policy Administration Systems, North America, 10 August 2021, By Richard Natale, Rajesh Narayan

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The post EIS Marks Year Anniversary of Life and Annuities Expansion with Two Leading Group Insurers Signed and New Products Released appeared first on EIS.

In this episode:

What factors impact workplace benefits broker satisfaction, and how can they successfully partner with carriers? Wellfleet and EIS’ 2021 Workplace Benefits Broker Survey found some answers.

What you’ll learn:

• The biggest misconceptions that carriers have about brokers, according to the survey
• What benefits providers are missing in terms of customer experience and technology, and why they need to take a customer-centric approach
• The importance of product flexibility for carriers
• The Great Resignation’s impact on workplace benefits, employers and employees, and why employers need to up their game to retain talent

READ ON:

The top 5 workplace benefits carrier misconceptions

While workplace benefits brokers are increasingly embracing their roles as advocates for employer clients, a new study by Wellfleet and EIS found that legacy technology systems are holding them back.

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Wellfleet and EIS 2021 Benefits Broker Survey

Here are the biggest misconceptions that carriers have about brokers, according to Wellfleet and EIS’ 2021 Workplace Benefits Broker Survey.

Read the survey

The post EIS Coretalk: Top 5 Benefits Carrier Misconceptions – Brokers Reveal What They are Missing (S1E3) appeared first on EIS.