The British Caribbean Insurance coverage Firm (BCIC) has launched the Caribbean’s first omnichannel insurance coverage ecosystem, leveraging the EIS cloud-native Software program-as-a-Service (SaaS) platform.
This digital ecosystem, which is being applied by EY, guarantees elevated accessibility to BCIC’s merchandise, speedy deployment of recent choices, in addition to personalised buyer interactions.
It’s going to cater to the varied demographic of the Caribbean area.
BCIC plans to undertake a multi-phased launch strategy for the brand new insurance coverage ecosystem, beginning with a roll-out in Barbados, with plans to increase to Jamaica and the broader Caribbean later within the 12 months.
Use of EIS’ SaaS platform is poised to reinforce BCIC’s velocity to market and operational effectivity, benefiting purchasers.
Initially, BCIC prospects can have the choice to buy motor insurance coverage, with the addition of house and industrial insurance coverage merchandise anticipated within the close to future.
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The launch section will see these merchandise provided on to prospects, with subsequent integration of BCIC’s intensive dealer community to comply with.
EIS claims that its selection by BCIC was influenced by the platform’s flexibility and the aptitude to adapt rapidly, that includes excessive ranges of automation and self-sufficiency.
This platform additionally permits BCIC to utilise superior cloud applied sciences to their full potential.
The transformation programme is anticipated to ship a number one digital expertise for each prospects and brokers, whereas concurrently decreasing prices related to provision and claims via automation and fraud detection.
EIS and EY are collaborating with BCIC to implement a centralised enterprise mannequin throughout a number of islands, which is able to allow finest apply adoption, digitisation, and self-service throughout all operations.
The EIS platform will create a customer-centric, data-driven surroundings, permitting BCIC to swiftly alter its services and products to fulfill evolving buyer wants and to innovate freely, making certain its choices stay pertinent and particularly tailor-made to every area.
This launch marks a big milestone in EIS’s technique to increase its international presence, following forays into Asia, Europe, and the UK.
BCIC managing director Peter Levy stated: “We felt constrained by our legacy know-how, however with EIS, we get an open, versatile, platform we management. It provides us a digital know-how engine to scale, launch new, related merchandise and adapt to our prospects’ altering wants, with out rising the price of doing enterprise.”
