June 29, 2021
Financial Technology, Financial Technology and Services, Insurtech (Insurance Technology), Software, Technology
GCA Advises EIS on Its Growth Financing
We are pleased to announce that our client, EIS, an insurance software company that enables leading insurers to innovate and operate like a tech company, has received a growth investment of more than $100 million from TPG.
EIS provides a platform for high-velocity insurance for P&C and LAH insurance companies worldwide. Its open, flexible platform of core and digital solutions enables insurers to accelerate innovation, launch products faster, deliver new revenue channels, and create customer-friendly insurance experiences. With thousands of open APIs, the EIS platform gives insurers across all lines of business the freedom to connect to—or serve as a hub for—a vast ecosystem of insurtech and emerging technologies. It is a leader in the development of a unified core, digital and data platform for insurers and the incorporation of emerging technologies, such as chatbots, AI and ML, into customer interactions and other business operations. Clients also benefit from the well-developed agile, continuous integration/continuous delivery approach of EIS. From large multiline, multinational insurance companies to regional single-line carriers, insurers use the EIS platform to build and deliver fast, simple, engaging experiences across the entire insurance lifecycle: quoting, policy administration, billing, claims and service.
This investment will help EIS to continue to meet growing client demand as insurers transition from outdated ‘modern legacy’ systems toward a platform that provides the flexibility, speed, openness and security that today’s highly competitive market requires.
GCA has been highly active in the insurance software and broader insurtech sectors. We have witnessed a dramatic increase by insurance carriers in the use of innovative software to fully automate and digitize operations. True digital platforms that can provide an end-to-end solutions suite – from policy administration and billing to claims management — are central to this, and EIS occupies a vital position at this important crossroads.