Renaissance Life & Health Insurance Company of America, a national dental, vision, life, and disability insurance provider, and EIS, an insurance core and digital platform leader, announced today that Renaissance has moved its core technology systems for group and voluntary products to EIS’ end-to-end SaaS core insurance solution.
The COVID-19 pandemic has dramatically changed the landscape for insurance carriers and is accelerating the move to outsource more IT platforms, which enables organizations to virtualize infrastructure for a remote-friendly workforce, while rationalizing operational costs. Renaissance deployed the EIS Suite™ in the cloud in 2020 to support product development and management and end-to-end workflows, from quoting and case installation to billing and claims processing. By now moving its core systems to EIS’ SaaS platform, Renaissance will be able to realize greater efficiencies, operate more nimbly and easily scale its infrastructure to meet the evolving needs of insureds.
“Moving these applications now to the EIS® SaaS platform and working within its cloud-native architecture will allow us to further direct our focus to core business priorities without the burden of managing multiple vendors or continually monitoring systems,” said Jeff Kolesar, Chief Operating Officer at Renaissance. “In addition, the move from cloud to SaaS delivers greater performance and streamlined service delivery.”
The EIS SaaS platform takes on the entire burden of key corporate IT functions, while accelerating core processes. EIS Suite is a truly cloud-native, API-first core platform that allows insurers to innovate and operate like tech companies: fast, simple, and agile. What’s more, EIS SaaS customers have the same extensibility and configurability that non-SaaS customers enjoy and because EIS® SaaS supports the same EIS Suite version that customers may have on-premise or in the cloud, customers have the flexibility to move between deployment models.
“EIS SaaS delivers our market-leading core insurance suite in a fully managed environment allowing our customers to focus their IT efforts on the needs of the core business; rather than thinking about how to run infrastructure,” said Stepan Stadnyk, Vice President of SaaS and IT Operations at EIS. “When a customer signs on for the EIS® SaaS platform, they receive a set of URLs to use and that is the end of their responsibility. We take care of everything else, while conforming to an agreed set of SLAs for performance, uptime and support. This frees IT bandwidth to focus on business innovation and delivering greater value to their customers.”
The EISSaaS delivery model affords insurance companies a host of business, financial and technical benefits including:
- Cloud-native to accelerate the start-up process, reduce costs, and scale endlessly
- Low code/no code configuration
- Easy integration with other platforms and cloud solutions
- Real-time application and infrastructure management
- One predictable subscription price
- Seamless application updates delivering new capability as it becomes available
- 24x7x365 resiliency built on a distributed architecture
- Highest standards of security and compliance
- Ability to connect to core systems from anywhere at any time
“Carriers are increasingly looking to SaaS solutions that virtualize their technology infrastructure, so they can redirect valuable resources away from IT toward more critical initiatives, such as product innovation,” said Tom Benton, Vice President, Research and Consulting at Novarica. “Solutions like EIS’ SaaS offering are built to be cloud-optimized and provide carriers with the benefits of improved performance and scalability via serverless computing and cloud databases, along with tighter integration with cloud-only services for analytics and AI.”
Renaissance Life & Health Insurance Company of America and its sister company Renaissance Life & Health Insurance Company of New York offer ancillary benefits for employer groups and individuals nationwide. Dental, vision, life and disability insurance comprise the core line of the company’s ancillary benefits solutions. With headquarters in Indianapolis, Ind., Renaissance is focused on providing its members and partners with outstanding products and service. Visit www.renaissancebenefits.com, and find us on Facebook, LinkedIn, and Twitter.
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 and digital solutions liberates insurers to accelerate innovation, launch products faster, deliver new revenue channels, and create insurance experiences the world will love. And with thousands of 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 on how EIS helps insurers become unbeatably fast at everything they do, visit EISGroup.com.