Insurance Major Leverages Cloud Native Technologies To Transform Into A Leading Digital Service Company
Industry: Insurance
Time reduction in new product launch time months to 2 weeks
Deploy time reduced from hours to minutes
Enhanced services with no downtime
Time to process partner onboarding reduced from weeks to 1-3 days.
Client Overview:
The client is a major in insurance with the goal of becoming the most highly recommended new-age life insurance company.
The insurance company was hampered by its traditional monolithic architecture, which couldn't keep up with the digital era's rapid increase in business needs. In addition, its antiquated core technologies served as a roadblock to digital innovation, the launch of new products across new channels, and the provision of a better user experience.
The client needed to stay competitive in the following areas:
The volume of transactions large
Marketing velocity
A wide variety of insurance products and channels
However, due to its lack of scalability, the client's traditional monolithic design could not handle large volumes of commercial transactions.
The client sought external expertise to find the optimum solution to drive the digital transformation required to remain competitive in today's industries.
AiRo Devised Strategies That Helped The Client Better Leverage Legacy Systems
AiRo devised strategies for extending fundamental system investments in a timely and seamless manner without having to replace them entirely. To generate new policy volumes at scale, the client wanted to enable the configuration of new insurance policy types, interaction with new channels and partners, and rapid development and deployment of new products with low launch costs.
Core processes were migrated to a microservice-based architecture using containerization technology and container orchestration and management using Kubernetes as the underlying backbone.
The Client Leverages Successful Cloud-Native Infrastructure With AiRo Managed Cloud Services To Drive Better Results
The client noticed the following benefits of using cloud-native technologies:
In six weeks, the client created a group platform with an eCommerce company, which would have taken months otherwise.
A single platform now supports multiple lines of business.
The client is now one of only a few carriers that can provide APIs for distribution partners.
Kubernetes and a message-driven architecture provide scalability to accommodate the company's rapid expansion.
Out-of-the-box APIs make connecting to various channels a breeze.
The client can now introduce new microservices without affecting the legacy system.
The analytical results better explained these advantages when the client noticed:
Time reduction in new product launch time months to 2 weeks
Deploy time reduced from hours to minutes
Enhanced services with no downtime
Time to process partner onboarding reduced from weeks to 1-3 days.
Are you ready to easily scale and take advantage of new business opportunities?
Speak to our expert
Cloud and Digital Transformation experts at AiRo can help you.
The AiRo Perspective
AiRo devised strategies for extending fundamental system investments in a timely and seamless manner without having to replace them entirely. To generate new policy volumes at scale, the client wanted to enable the configuration of new insurance policy types, interaction with new channels and partners, and rapid development and deployment of new products with low launch costs.
