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Business Impact

  • 99% Straight through processing with real-time policy issuance from core

  • Free up 10-15% bandwidth of sales managers and Ops team

  • Reduced onboarding time from 2 months to 3 weeks

  • Improved control & flexibility

Customer Key Facts

  • Location : 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.
The Client was unable to meet the requirements of the expanding business due to various inefficiencies and necessary manual intervention.
It sought digital transformation to update its existing system by automating the 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
Challenges

Technologies Used

AWS Lambda
Amazon CloudFormation
Amazon S3
Amazon EC2
Amazon SQS
Amazon SNS
Amazon ECS
Amazon API Gateway
Amazon DynamoDB
Bitbucket
Jenkins

Solution approach and Overview

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

Prescribed the technologies and high-level architecture to overcome the identified gaps in individual modules

Solution Key Features

  • 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
  • Endorsement & Cancellation Module

Result

Migrated Client’s on-prem OEM application to cloud and developed a flexible, configurable and scalable platform that can facilitate OEM integration.

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