British Caribbean Insurance Company (BCIC) has introduced its omnichannel insurance ecosystem built on the EIS Group’s cloud-native SaaS platform, and implemented by EY.
The initiative aims to deliver an enhanced digital experience for customers and brokers while reducing the cost of provision and claims through automation and advanced fraud detection capabilities.
The multi-phased rollout begins in Barbados, with plans to expand to Jamaica later this year and then to the rest of the Caribbean.
The digital ecosystem will increase access to BCIC’s existing products, enable the launch of new products at pace, and ensure that every engagement is tailored to meet the specific needs of the Caribbean’s diverse population.
Initially, BCIC customers will be able to purchase motor insurance, with other types of insurance, such as home and commercial, becoming available soon.
Peter Levy, managing director at BCIC, states: “Our business is complex, serving a diverse population across different territories with distinct needs. We wanted a platform that can provide everything needed to offer a world-class customer-centric experience today but also has the flexibility to adapt as we evolve our offering and expand into new markets.”
He continues: “We chose EIS because their platform is modern, digital by design, and provides a development environment in which we are the masters of our own destiny.
“It gives us a digital technology engine to scale, launch new, relevant products, and adapt to our customers’ changing needs without increasing the cost of doing business.”
