British Caribbean Insurance Company (BCIC) has unveiled its new omnichannel insurance ecosystem, powered by the EIS cloud-native SaaS platform from San Francisco and implemented with the support of EY. This initiative marks a significant step for BCIC in enhancing operational efficiency and accelerating speed to market.
The rollout, starting in Barbados with plans to extend to Jamaica later this year and throughout the Caribbean thereafter, underscores EIS’s commitment to global expansion and innovation. The platform’s flexibility and scalability are designed to cater to BCIC’s diverse customer base across various territories, offering a seamless and customer-centric experience.
Peter Levy, Managing Director of BCIC, emphasized the importance of adapting to evolving market needs: “Our decision to adopt EIS’s modern and flexible platform reflects our commitment to staying ahead in a complex industry. Unlike our previous systems, EIS empowers us with greater control and agility, enabling us to innovate and deliver tailored solutions efficiently.”
Initially focusing on motor insurance, BCIC plans to expand its product offerings to include home and commercial insurance shortly after launch. The integration of BCIC’s broker network will follow, enhancing accessibility and service delivery for customers.
EIS’s cloud-native SaaS platform was chosen for its advanced capabilities in automation, self-sufficiency, and leveraging cloud technologies. This strategic partnership aims to transform BCIC’s operations by enhancing digital experiences, optimizing claims processes, and deploying advanced fraud detection measures.
Alec Miloslavsky, CEO of EIS, commended BCIC’s forward-thinking approach: “BCIC’s transformation program sets a new benchmark for digital innovation in Caribbean insurance. By leveraging our platform’s capabilities, BCIC is poised to elevate its product sophistication and customer experience, setting industry standards across the region.”
The collaboration between BCIC, EIS, and EY promises to establish a centralized business model across multiple islands, promoting digitization and best practices throughout the insurer’s operations. This initiative is expected to redefine insurance provision in the Caribbean, setting a precedent for future advancements in the industry.
In conclusion, BCIC’s adoption of the EIS SaaS platform represents a pivotal moment in its journey towards digital transformation and market leadership in the Caribbean insurance sector.
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