SAN FRANCISCO, Oct. 20, 2020 (GLOBE NEWSWIRE) — EIS, a global core and digital platform provider for insurers, today announced that it received the highest score in three of five use cases that Gartner, the world’s leading research and advisory firm, analyzed in the 2020 Critical Capabilities for Life Insurance Policy Administration Systems, North America report.1 EIS has been recognized for the second consecutive year in the report. Assessed as one of 11 vendors, EIS improved its positioning by receiving three of the highest use case scores and one third-highest score.
According to the report, EIS achieved the following scores:
- Highest in New Product Development/Launch Use Case, scoring 3.96 (out of 5)
- Highest in Policy/Contract Change Use Case, scoring 3.99 (out of 5)
- Highest in Digital User Support Use Case, scoring 3.90 (out of 5)
- Third Highest in Group/Worksite Enrollment, Claims and Billing Use Case, scoring 4.61 (out of 5)
“We believe that market demands—more so than ever before—call for PAS solutions that can adapt to disruption with greater product agility and vastly improved digital experiences,” says Samantha Chow, LAH markets lead at EIS. “To excel in the use case evaluations for the second consecutive year is very gratifying, particularly to achieve the highest score in the Digital User Support Use Case for the first time.”
In the report, Gartner states, “Insurers need policy administration system characteristics such as flexibility and IT agility to recover from the COVID-19 pandemic. For insurers to become more agile and resilient, CIOs must match policy administration capabilities with insurers’ needs.”
Gartner notes that, “As life insurance companies move forward with recovery from the COVID-19 crisis, CIOs need to prepare for business renewal. CIOs must reevaluate their PASs for fitness for an expected acceleration in digital sales and services in a virtual work-from-home world.”
EIS’ recognition in Gartner’s Critical Capabilities for Life Insurance Policy Administration Systems, North America report follows the publication of Gartner’s companion report Magic Quadrant for Insurance Life Policy Administration Systems, North America.2 EIS was named a Challenger in the latter report assessing vendor ability to execute and completeness of vision.
1 Gartner, Inc., Critical Capabilities for Life Insurance Policy Administration Systems, North America, Richard Natale and Rajesh Narayan, August 11, 2020.
2 Gartner, Inc., Magic Quadrant for Insurance Life Policy Administration Systems, North America, Richard Natale, August 3, 2020.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
EIS is an insurance software company that enables leading insurers to innovate and operate like a tech company: fast, simple, agile. Founded in 2008, EIS provides a platform for high-velocity insurance. This open, flexible platform of core systems and digital solutions liberates insurers to accelerate and scale innovation, launch products faster, deliver new revenue channels, and create insurance experiences the world will love. And with thousands of open APIs, the platform gives insurers the freedom to connect to a vast ecosystem of insurtech and emerging technologies. Headquartered in San Francisco, EIS powers premium growth for insurers in all lines of business worldwide. For more information, visit EISGroup.com or follow @EISGroupLtd on Twitter and LinkedIn.
Kevin Haydon, EIS, 1.845.7972976, [email protected]
Source: Google | Insurance News