Tower introduces new motor and home and contents products on EIS Group’s fully digital, cloud-based policy, billing and claims platform in less than 18 months
Auckland, New Zealand and San Francisco, CA (GLOBE NEWSWIRE) - EIS Group, a global core and digital platform provider for insurers, today announced the successful deployment of EIS Group’s digital insurance platform to leading New Zealand insurer, Tower Insurance. The new business platform is the technology cornerstone of Tower’s digital transformation initiative to simplify its business and position the company as a digital challenger doing business in a new way that delivers new products and services for customers, tailored to their specific needs.
After an extensive plan was developed, the new platform was rolled out in less than eighteen months. It enables Tower to offer consumers digitally-enabled personal and commercial motor, home and content products within a simplified and convenient customer journey. The cloud-based platform replaces numerous legacy systems and supports quoting, policy administration, billing, claims, and customer management and engagement processes to provide Tower’s customers with a fast, seamless sales and service experience.
Tower CEO, Richard Harding, says that Tower believes people deserve better from their insurance company and took the time to understand our customers and how they wanted the future of insurance to be.
“We used the information and feedback our customers gave us to develop a blueprint that laid out the way forward and the type of technology we needed to bring this to life,” said Harding.
“We worked with EIS Group to make this a reality in a very short period of time, and we are now able to proactively engage with customers and provide easy to understand policies that give customers clarity and confidence about what they are covered for. We are creating a unique and empowering self-service experience that challenges current industry norms,” said Harding.
In total, Tower deployed EIS Suite™ components PolicyCore®, BillingCore®, ClaimCore®, and CustomerCore™ and EIS DXP™ on Microsoft Azure as the foundation of the new business platform.
“Matching Tower’s aspiration to bring a next-gen experience to insurance consumers and to do it with unparalleled speed to market has been a very gratifying experience for us,” said Alec Miloslavsky, chief executive officer of EIS Group. “We look forward to continuing to support Tower’s ambition to keep innovating and creating the future of insurance.”
A key enabler of the transformation is the API gateway and persona-based digital app capabilities in EIS DXP, EIS Group’s digital experience platform. Tower leveraged DXP to expose core business functionality and create apps that allow users to quickly gain a quote, access policy information, make policy and billing changes, file a claim, and other tasks.
Tower chief operating officer, Peter Muggleston, said that putting a customer-centered digital platform with state-of-the-art architecture in place was a large undertaking.
“Collaboration between the Tower and EIS Group teams and an effective Agile process leveraged the resources and scalability of the cloud, which was critical to on-time delivery,” said Muggleston at Tower.
“Now the platform is in place, we have digitally-enabled products on sale and the migration of existing policies has begun, which will result in improved outcomes for customers, increased efficiency and will allow us to take advantage of market opportunities,” said Muggleston.
About Tower Insurance
Born and bred in New Zealand, Tower Insurance has been supporting New Zealand communities with their insurance needs for 150 years. While our heritage is important to us, we’ve set our sights on the future and on becoming the challenger in the New Zealand insurance sector.
We’re repositioning ourselves as a contemporary, challenger brand underpinned by a customer-focused, digital-first strategy to successfully compete in the 21st century insurance market place. Why? Because we believe that people deserve better and we’re passionate about delivering on this belief.
Tower operates across New Zealand and the Pacific Islands and provides customers cover for their house, car, contents, business, travel and other personal needs.
About EIS Group
EIS Group moves insurance carriers closer to their customers. Leading insurers use the EIS® digital insurance platform to build and deliver fast, simple, engaging experiences across the entire insurance lifecycle — quoting, policy administration, billing, claims and service. The cloud-enabled platform of core, experience and insight solutions empowers insurers to innovate faster, reduce costs, and create competitive advantages. Headquartered in San Francisco, EIS Group powers digital insurance for property/casualty and benefits insurers of all sizes, worldwide. For more information, visit EISGroup.com or follow @EISGroupLtd on Twitter.
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