Leading Innovation in Insurance

The Challenge :

• Increasing pressure on insurer’s profitability has led them to look for new distribution channels, fueling the drive for MGA adoption to reduce value chain costs. Current time-consuming process of updating lengthy forms, long TAT to get quotations from insurers, data entry errors, long development time to implement and release products pose additional challenges.

The Solution :

• Global UCM platform to connect anywhere in the value-chain.
• End-to-end solution including architecture & system integration.
• Integration of third-party providers for increased pre-fill and risk visibility and implementing scenario based premium calculation.
• Developed a platform with simplified quoting journey and instant online quote that can be bound to a policy.
• Technical platform to accept information through email, digital broker channel, and from shopping platform.
• Azure DevOps: for CI/CD, Deployment automation, release management, and Agile dashboard setup.

The Outcome :

The Challenge :

• Separate technology team for all LOBs to manage different aspects of marketing & service needs and absence of best practices and continuous improvement led to unscalable custom solutions. There was no transparency of process and defined intake mechanism for service/change requests.

The Solution : 

• Single channel for intake mechanism with immediate acknowledgement.
• Use of standard tools like JIRA for tracking requests with customized dashboards for sharing information, measuring progress and maintaining project in control.
• Implementation of Agile methodology to maximize visibility, support adhoc requests and manage shareholder expectations with clearly defined project deliverables.
• Established guidelines and best practices for timely delivery.
• Feedback cycle for continuous process improvement.

The Outcome :

The Challenge : 

• To develop a core insurance platform built around agility to launch new products, pricing and improve customer communications, an API channel focused on interactions with aggregator and provide a modular architecture for services to be used across channels and brands.

The Solution : 

• Robust middleware solution that provides a clear decoupling between system of records, third party services and systems of engagement.
• Developed a comprehensive set of technical APIs & components that form the foundation for rest of the build (Logging, Auditing, Caching, Encryption etc.)
• Engagement Scale.
• Multi-year engagement across products & brands.
• 180+ system APIs, 30+ process APIs and 30+ experience APIs.
• 22 resources in the onsite-offshore model.

The Outcome :

The Challenge :

• Demand for huge number of APIs (150+) needed APIs to be prioritized and delivered quickly, thus required a self-sufficient team to build these APIs at a faster pace. To reduce Mainframe footprint and thus MIPs, Mainframe data had to be moved to ODS (MongoDB) and to be exposed to channels via APIs.

The Solution : 

API Assessment 

• Identification of top 10 high volume transactions and mapping them to APIs to be picked up as high priority.
• Identification of APIs for shared customer journeys and picked APIs for prioritized journeys.

Team Formation

• Strong team of 20+ members consists of PM, BA, Cards SME, Designer & Developer formed.

API Design & Development 

• Defined processes and methodologies to quickly start and deliver an API, proven set of templates for all kind of problem statements.

Technology Stack

• Java latest, RESTful, RAML .

The Outcome :