EY announces alliance with EIS to support insurance transformation

USA - English

News provided by

Apr 27, 2023, 09:00 ET

Develops unique and innovative business models that respond to specific market needs
Drives expansion of joint marketing and sales initiatives as well as deploys a deep bench of technical talent into the market

LONDON, April 27, 2023 /PRNewswire/ -- The EY organization today announces an alliance between the EIS Group Inc (EIS), a global digital insurance platform provider, and Ernst & Young LLP (EY US) to help clients in implementing and integrating EIS' cloud-native, digital insurance platform, which is primarily an application programming interface, to address challenges and future needs in the insurance industry. The Alliance is also active in Ernst & Young LLP (EY UK) with plans for alliance geographic footprint expansion over time.

Following a significant surge in activity across the group insurance software marketplace, the EY–EIS Alliance helps clients implement detailed services that reduce time to market and enable new business. It also supports underwriting, servicing and policy administration capabilities across multiple lines of business, including group benefits, life, annuity, healthcare, property and casualty, dental and disability products.

EIS is expanding to become a full value chain solution while continuously strengthening its core administration platform. Many insurance carriers currently undertake manual steps that give rise to a host of inefficiencies. Therefore, there is a growing need for carriers to leverage digital and analytical solutions while redesigning customer operations and service models.

In addition to bringing in consulting and technology experience, EY teams complement EIS' capabilities by integrating the EY Nexus platform, which facilitates faster deployment of services for clients.

Ted Epps, Life Technology and Group Alliance Leader, Ernst & Young LLP, says:

"Through the alliance with EIS, EY teams are looking forward to expanding their technology footprint, thought leadership and brand recognition in the insurance industry. This Alliance also allows EY teams to explore opportunities to strengthen their ecosystem by developing a comprehensive core platform strategy for EY Nexus, which is offered as a digital transformation solution."

Chris Payne, EY EMEIA Insurance Technology Leader, says:

"The alliance with EIS is an exciting proposition with much potential. There is so much dynamic innovation still to be found within the insurance market. Having worked together on leading-class insurance business and technology transformation programs centered around the customer and digital enablement, I have faith that this Alliance can bring significant and innovative digital progress to insurers."

Jim Caruso, EIS EVP of Customer and Partner Success, says:

"As the needs of consumers continue to evolve, ambitious insurers are searching for cloud-native, open, flexible and interconnected technologies that enable them to respond unimpeded and power their next phase of growth. The collaboration with EY teams represents a significant milestone in addressing this need. We are excited about the numerous transformational opportunities that will arise from combining EIS technology with EY teams' consulting knowledge, and we look forward to sharing these benefits with even more leading insurance organizations."

For more information, visit ey.com/alliances.

About EY

EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets.

Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.

Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.

About EIS

EIS is the first choice for ambitious insurers focused on future proofing their businesses and building the customer-centric insurance platforms of tomorrow.

Founded in 2008, EIS provides a digital insurance platform that has been specifically engineered to remove every obstacle and give insurers the freedom to pursue and achieve their most important strategic goals. Its open, flexible, cloud-native Coretech platform liberates insurers to grow market share and enter new markets, develop new products and build engaging experiences, while lowering acquisition costs, boosting retention and delivering greater revenue and profits for the long-term.

Headquartered in San Francisco, EIS powers premium growth for insurers in all lines of business worldwide. For more information, visit EISGroup.com.

SOURCE EY