The alliance aims to tackle challenges and meet future needs in the sector. EY teams will use their consulting and technology expertise to help clients reduce time to market and enable new business, and will integrate the EY Nexus platform for faster service deployment.
The partnership will also bring about the expansion of EIS to become a full value chain solution, streamlining insurance carriers’ administration platforms and reducing inefficiencies.
Ted Epps, Life Technology and Group Alliance Leader, Ernst & Young LLP, said the alliance will allow EY teams to strengthen their ecosystem by developing a comprehensive core platform strategy for EY Nexus. “Through the alliance with EIS, EY teams are looking forward to expanding their technology footprint, thought leadership and brand recognition in the insurance industry. This Alliance also allows EY teams to explore opportunities to strengthen their ecosystem by developing a comprehensive core platform strategy for EY Nexus, which is offered as a digital transformation solution.”
Finding dynamic innovation through partnerships
Chris Payne, EY EMEIA Insurance Technology Leader, praised the partnership, saying it had the potential to bring significant and innovative digital progress to insurers. “The alliance with EIS is an exciting proposition with much potential. There is so much dynamic innovation still to be found within the insurance market. Having worked together on leading-class insurance business and technology transformation programs centered around the customer and digital enablement, I have faith that this Alliance can bring significant and innovative digital progress to insurers.”
Jim Caruso, EIS EVP of Customer and Partner Success, said that as the needs of consumers continue to evolve, ambitious insurers are searching for cloud-native, open, flexible and interconnected technologies that enable them to respond unimpeded and power their next phase of growth.
He added: “The collaboration with EY teams represents a significant milestone in addressing this need. We are excited about the numerous transformational opportunities that will arise from combining EIS technology with EY teams’ consulting knowledge, and we look forward to sharing these benefits with even more leading insurance organisations.”
