EIS Group has brought its coretech platform to the UK to enable domestic insurers to come up with a new generation of insurance products and services

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US insurtech firm EIS Group enters into the UK market. (Credit: Free-Photos from Pixabay)

EIS Group, a US-based insurtech company, which offers a digital platform for insurers, has forayed into the UK market.

The US firm has rolled out its coretech platform in the UK to enable domestic insurers to come up with a new generation of insurance products and services for their customers in line with their changing habits amid an evolving regulatory landscape.

According to the San Fransisco-based insurtech, its open, flexible platform of core and digital solutions help insurers in accelerating innovation, bringing out products faster to the market, generate new revenue channels, and in offering insurance experiences that are liked by consumers.

Claimed to have thousands of APIs, the EIS platform enables insurers to connect to a huge ecosystem of insurtech and emerging technologies.

The platform is said to be flexible in letting insurance firms seamlessly operate with insurtechs and other providers to offer lifestyle solutions beyond protection to consumers. Through the platform, insurers across the world can adopt a customised approach to their customer experience by identifying and engaging customers as a whole, across all their insurance requirements, rather than individual policy numbers.

EIS Group EMEA senior vice president Olivier Vayesse said: “As we enter the UK market, we see a high demand for innovative approaches to insurance. More so than other markets.

“EIS has been resourceful in responding to this demand. One example is a local initiative where we are developing an intelligent digital ecosystem to enable insurers to take a more radical approach to transformation, offering a greenfield platform for transitioning away from legacy technology.”

Recently, the EIS Group entered the French market

The foray into the UK market follows last month’s entry of the EIS Group into France.

Earlier this month, the insurtech company said that Reliance Standard Life Insurance has selected EIS Suite as the new core platform for its voluntary benefits business. The open technology platform will be employed by the US life insurer for product development, policy administration, billing, rating, and customer management processes.