Berkshire company partners up to build insurance administration platform

Berkshire company partners up to build insurance administration platform | Insurance Business

Berkshire company partners up to build insurance administration platform

Wellfleet, a Berkshire Hathaway insurance company, has partnered with industry technology firm EIS Group to build an insurance administration platform for the employee benefits market.

“In the complex voluntary benefits landscape, brokers and their clients commonly work with multiple systems, fighting to integrate with carriers’ patchworked legacy systems,” Wellfleet said. “Whether it’s product sophistication, internal workflow monitoring, enrollment and third-party integration, or communications across multiple modules, carriers struggle to administer plans in a digitally unified way.”

Wellfleet partnered with EIS Group to build a cloud-based software system designed to support the full broker and customer lifecycle, the company said.

“We’re building a web-based, customer-centric platform with a consistent, multi-channel experience,” said James Ocampo, executive vice president and head of Wellfleet’s workplace division. “At Wellfleet, we have no legacy systems; we’re building our API-driven platform from the ground up, enabling true data integration among apps to power customer-facing processes across multiple channels. Our platform will also improve data agility and operational efficiency and enhance the overall customer experience, all while enabling the rapid introduction of new products to market.”

EIS Group’s cloud-based platform supports broker and customer lifecycles including rating and quoting, policy issuance and administration, and billings and claims management. Multi-channel touchpoints are easily created and managed through the platform, Wellfleet said.

“Wellfleet and EIS Group are making an investment into the future of workplace benefits,” said Tony Grosso, head of marketing at EIS Group. “If brokers are to keep pace with digital economy demands and engage their clients how they want to be engaged, they need something different. A customer-first approach to solution design and an open architecture that easily connects to a rapidly changing ecosystem of products, services, exchanges and other channels is critical. Our partnership with Wellfleet will push boundaries and raise expectations.”