The client is a U.S. based insurance company that has been in existence since 1822. They are specialized in commercial line insurance products and offer multiline solutions for select industry groups. Their product lines consist of a broad breadth of speciality products to meet various coverage needs. The client has over 2400 employees across the U.S.
The insurance industry is constantly being challenged by the evolving nature of the business and new technology. The industry is faced with both, challenges and opportunities brought on by changing customer demands, compliance requirements, sophisticated fraud alerts etc. Further, the introduction of technology in insurance companies has caused major disruption by redefining products and their digital distribution. Lower operational costs and faster innovation results in quicker delivery of relevant information to customers.
The client made the following requests of Coforge:
Innovation and experience you can count on – a digital portal for a better-connected experience
Technology that does the groundwork for the customer, which meant linking API integration to the digital backbone.
Insurance tailored for the gig economy – a core platform for intelligent operations across the enterprise
A cost contained hosting platform for Cloud infrastructure
The client realized that it had to focus on its core business for profitability and long-term survival and therefore decided to approach Coforge. The main agenda for Coforge was to enable the policy dashboard for the client’s agent partners, fast, easy and seamless integration APIs and simplified and fast onboarding for the client’s partners. This allowed the client to focus on customers, creating simpler and fewer integration points for a streamlined integration experience. Meta data and classifications were to be made available as additional functions.
Solution.
Coforge assumed overall responsibility for the client’s I.T. architecture and delivery of a knowledge management system. Our services included:
A better-connected experience for public users and digital agents
An improved UI for consumers and C&F digital partner portals
AWS API gateway enabled for digital services to be exposed at the front end
As part of our commitment to lower I.T. system expenditure and simultaneously increase efficiency, Coforge worked on an onshore-offshore delivery model. We ensured that both offshore and onsite resources worked closely with the client’s team to enable and bring in an excellent digital experience across enterprise applications within a predefined timeline.
The Impact.
By partnering with Coforge, the client could focus on its core competencies and maintain its leadership position in a highly competitive industry. In addition to technology and digital support, we have greatly improved the company’s operational efficiencies and digital experiences.
The client gained business advantage on account of:
Yearly Revenue target met within 8 months
30 days Partner onboarding
350+ Business classes supported
~$2+B Total insured risk underwritten
2 Months Initial live operations, Continuous releases
