Digital Transformation of OEM Platform

Property and Casualty Insurance
case study

Business Impacts

99%

Straight through processing with real-time policy issuance from core

10-15%

Flexibility in bandwidth of sales managers and Ops team


Reduced onboarding time from 2 months to 3 weeks


Improved control & flexibility

Customer Key Facts

  • Country : United States
  • Industry : Property and Casualty insurance

Problem Context

The client is an American diversified global insurer and the third-largest property and casualty insurer. They were unable to meet the requirements of the expanding business due to various inefficiencies and necessary manual intervention. They sought digital transformation to update their existing system by automating majority of the manual processes and seamlessly integrating with OEM systems, making it suitable for the expansion in business.

Challenges

  • Prolonged onboarding period of OEMs to the legacy tech stack
  • Limited visibility and control for Underwriters over the pricing rules
  • Business validations extension to new OEMs
  • Manual intervention for policy processing
  • Increased turnaround time and lead to a breach of SLAs

Technologies Used

AWS Lambda

AWS Lambda

CloudFormation

CloudFormation

 S3

S3

 EC2

EC2

SQS

SQS

 SNS

SNS

ECS

ECS

API Gateway

API Gateway

 DynamoDB

DynamoDB

Bitbucket

Bitbucket

Jenkins

Jenkins

Migrated On-Prem OEM Application to the Cloud by Developing a Platform for OEM Integration

Solution

Quantiphi migrated on-prem OEM application to the cloud by developing a platform for OEM integration, a flexible, configurable and scalable system capable of meeting the demands of the fast-growing business. Our experts prescribed the technologies and high-level architecture to overcome the identified gaps in individual modules.

Result

  • Base foundational Platform to deliver features for Security, Error handling, SLA Pre-breach triggers, and Data Visibility
  • End-to-End Policy Issuance Module to enable near real-time policy booking with minimal manual intervention
  • Near real-time claim registration & automated surveyor appointment
  • End-to-End Claims Integration for processing claims with minimal manual intervention

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