British carriers have a new set of tools to create new insurance products after the EIS Group announced it was launching in the UK.
It will provide its coretech platform to UK insurers new product, according to Reinsurancence.
The platform leverages application program interface (API) solutions to enable insurers to operate more smoothly with InsurTech companies.
“For the insurance company of the future, providing the right cover and good service to policyholders are table stakes,” said Tony Grosso, head of marketing at EIS, when speaking with Reinsurancence.
“The real winners will be those who can move beyond protection and operate in an ecosystem of value with other, non-insurance providers.”
The news comes after FinTech Global revealed that that the InsurTech segment of the FinTech sector picked up the biggest piece of the investment pie in the first quarter of 2020. It picked up 16.7% or about £218.6m of the £1.3bn invested during the period. 
