EIS launches in the UK
EIS, a core and digital platform provider for insurers, announced its entry to the UK market.
The San Francisco-based insurtech has launched its coretech platform in the UK aiming to help insurers offer “a new generation of insurance products and services, in response to changing consumer habits and an evolving regulatory landscape,” according to its announcement.
In response to the wave of innovation in the UK insurance sector, 75% of insurers are leaving legacy technology behind in favour of more dynamic and flexible ‘as a service’ models, according to a study by the insurtech firm.
Founded in 2008, EIS allows insurers to rapidly create and deploy new products and services via open APIs. This new, flexible platform allows insurance companies to operate with insurtechs and other providers to deliver lifestyle solutions beyond protection to consumers.
“As we enter the UK market, we see high demand for innovative approaches to insurance. More so than other markets, in fact,” says Olivier Vayesse, senior vice president, EMEA at EIS.
“EIS 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.”
Vayesse expresses a commitment to expand in the UK market, creating jobs and revenue opportunities, in conjunction with its partner program.