SAN FRANCISCO, August 16, 2021 – EIS, a core and digital platform provider for insurers, today announced that it has been named a Leader in the Gartner Magic Quadrant for Life Insurance Policy Administration Systems, North America*. The report evaluated EIS for Completeness of Vision and Ability to Execute in the life, annuity, and health market. This is the third consecutive year that EIS has been included in the report, and is now positioned as a Leader.
The report evaluated EIS Suite™, a cloud-based platform for insurance carriers that provides core, data, and digital capabilities across multiple lines of business, including life, worksite, and individual benefits, and property and casualty.
“Insurance companies are now entering the third phase of pandemic renewal in which they resume their strategic path toward digital transformation. In this phase, business priorities will shift dramatically as the focus moves from cost cutting, to cost optimization, to business renewal. In the renewal phase, insurance companies position for their strategic future and begin again to consider transformative change as opposed to simply optimizing existing business processes. CIOs should be evaluating policy administration system (PAS) replacement within this context,” according to the report’s authors.
A complimentary copy of the full report is available here.
“To be recognized as a Leader this year is both exciting and enormously gratifying,” said Samantha Chow, LAH markets lead at EIS. “In our opinion, it underscores our dedication to developing an agile solution that supports the needs of carriers in the individual and group life insurance markets where customer needs, products and distribution models are changing rapidly. It is great to see our differentiated approach and ability to deploy cloud-native technology to the market validated. To reach the Leader category in just three years since qualifying for our first Magic Quadrant, we believe reflects the speed at which we have been able to develop and deploy our solution.”
The EIS Suite for life and annuity carriers provides carriers with a rapid path to digital transformation. The core platform enables insurers to grow through product development, market expansion, data-driven decisions, and customizable ecosystems. It leverages a digital and mobile-first approach, is cloud-native, and built on open APIs and microservices, enabling carriers to react like insurtechs: fast, simple and agile. The platform provides end-to-end capabilities out of the box yet is entirely flexible to integrate with both modern tech solutions and legacy, acting as the hub for ecosystem development.
* Gartner, Inc. “Magic Quadrant for Life Insurance Policy Administration Systems, North America”, Richard Natale, Rajesh Narayan, August 10, 2021.
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