A Leading Insurance Provider Modernizes their Core Application to Deliver Better Customer and User Experience
Our client is a leading insurance provider in the region with offices spread across multiple countries with a reputation of providing financial security and peace of mind to its satisfied customers. They provide a comprehensive range of Life & General Insurance Products. The ability to deliver localized solutions makes our client the market leader, and set a benchmark in General Insurance Industry.
Business Scenario
The evolving marketplace is challenging life, property and casualty, and group insurance companies to modernize their infrastructure by replacing legacy applications with advanced and up-to-date technology. Our client too wanted to replace their legacy core insurance system with a scalable, reliable application built using modern technology. In order to improve their ability to respond to changing customer demands and stiffening competition.
The inherent nature of legacy systems had made application and product development very complex, costly and fraught with risk.
Our client’s main objective for this project was to mitigate the risk of obsolete and non scalable technology, and improve user experience.
Challenges
- Obsolete Oracle Products & Vendor Support
- Lack of skilled resource due to Obsolete technology
- Customer & user experience Scalability and innovation
- VAT compliance
Tool & Technologies
HTMS, CSS, JS, jQuery, MVC, ASP.net, Oracle & Power BISolution
Intertec planned to deliver the solution in two phases due to complexity, nature of business and timeline to modernize.
The first phase was to migrate the existing forms & reports from Oracle 6i to Oracle 12C. This caters to their short term business needs as modernization of entire core insurance application would take long time and they were running out of support from Oracle due to Oracle 6i end of life. By migrating to Oracle 12C, the client shall continue to get Oracle support on existing application. Intertec implemented Oracle Real Application Cluster (RAC –2 nodes), Migrating database from non-RAC to RAC and configure Oracle Data guard as a Disaster Recovery Solution. In this process, Migration Assistance tools were used which completely eliminated the obsolete built-ins and automatically replaced with new built-ins. This enabled the application to run on new oracle forms12C web logic environment.
The second phase comprises of modernization of the existing Oracle core application to .net platform that acts as one stop solution for management of Customers, Agents, Brokers, Providers, and Insurance Claims. The below figure depicts the functions of the integrated system and its interaction with user.
There are a few common modules supporting all four systems – Intermediary portal, Consumer Portal, Customer portal and Corporate Customer portal. Separate front-ends are enabled for each of the individual systems to cater to functionalities for respective users. This will enable the information flow between the Insurance management systems to be seamless.
Key Capabilities of New Core Insurance System
- Configurable workflow and Business rules for Life, Credit, General, Medical
- Configuration and deployment of pre-defined document formats
- Single platform for Consumers, Customers, Corporates, Intermediary
- Seamless on-boarding with configurable templates for customer and product specific data capture
- Ability to manage users, permissions, roles and privileges
Result
- Scalable Architecture: Manage increased workload, additional entities and geo locations
- Enrollment to Settlement: New platform enables effective control and management of insurance claims – right from Enrolment to Settlement
- Mobile Enabled: iOS and Android mobile apps to facilitate transactions on the go
- Self Service Portal: Stakeholders like Corporate, HR, Employees, Agents, Brokers can login to a single system
- Report and Monetize: Facilitate Business Intelligence and Analytics on Enrolled data, Claims data and Financial data analysis