British Caribbean Insurance Company (BCIC) has unveiled an innovative omnichannel insurance platform, marking a pioneering move in the Caribbean market. Developed on the EIS cloud-native SaaS platform and implemented in collaboration with EY, this initiative aims to significantly enhance BCIC’s operational efficiency, accelerate time-to-market for new products, and elevate customer engagement, as reported by Insurance Edge.
The primary objective behind this launch is to broaden access to BCIC’s existing suite of insurance products while facilitating swift introductions of new offerings. Designed to cater specifically to the diverse Caribbean demographic, the digital ecosystem ensures personalized interactions tailored to individual needs.
Initially debuting in Barbados, the program is scheduled for expansion to Jamaica later this year, with plans for further rollout across the region.
BCIC, known for its extensive range of general insurance products throughout the Caribbean, intends to leverage this new platform to deliver a seamless customer experience, reinforcing its competitive edge in the insurance sector.
The inaugural phase of the platform will enable customers to purchase motor insurance, with options for home and commercial insurance to follow in the near future. Initially available directly to BCIC customers, integration into BCIC’s extensive broker network is anticipated shortly thereafter.
BCIC’s selection of the EIS platform underscores its commitment to harnessing cutting-edge technology. Recognized for its flexibility, agility, and robust technological capabilities, the cloud-native SaaS platform promises heightened automation, self-sufficiency, and advanced functionality.
According to Peter Levy, Managing Director of BCIC, “Our decision to adopt EIS was driven by the need for a platform that not only meets our current customer-centric demands but also offers the flexibility to evolve as we expand into new markets and innovate our offerings.”
Alec Miloslavsky, CEO of EIS, commented, “BCIC’s transformational journey exemplifies a forward-thinking approach. By steering clear of legacy systems, they are poised to revolutionize their business operations, setting new benchmarks in product sophistication and digital service within the Caribbean insurance landscape.”
The collaboration between BCIC, EIS, and EY aims to establish a centralized, multi-island business model, promoting digitization and operational excellence across BCIC’s broker network.
The launch of this omnichannel platform not only signifies a strategic milestone for BCIC but also aligns with EIS’s global expansion strategy, solidifying its footprint in the Caribbean as part of its broader international growth agenda.
