A GLOBAL PROPERTY, MOTOR AND ASSET MANAGEMENT INSURANCE COMPANY
Our cloud based customer servicing & engagement solution has helped this insurance company to exponentially scale up its business & increase its annual premium income to over $5 million USD.
The client offers home & motor insurance, and asset management services to 60,00,000+ customers across the globe. The company provides insurance cover of over US$55 million and total capital base of over US$4 billion.
The client wanted to build a customer servicing platform that can handle massive financial transactions and leverages robust and reusable servicing capabilities such as customer’s quote management, call center activities, prompt actions on policy claims or renewal, property valuation, transaction processing, and client’s data management.
The data between Intranet and Mini-intranet apps needed to be synchronized and the delay that occurred in the producer side needed to be eliminated.
The Single server setup which resulted in poor scalability at peak usage hours had to be done away with.
Data backup and recovery needed to be overhauled.
The platform suffered by the security vulnerability issues which had to be precisely dealt with.
With help of cloud server, the turnaround time decreased tremendously for each data transaction.
Auto-scaling group allowed the client to scale the number of servers during high data transaction time.
Use of the enterprise-class web application firewall (WAF) made the application more secure and reliable.
Application data on the cloud server were copied via automated backup tool and typically stored in the Backup server.
Infrastructure automation: It involved automation of existing infrastructure using various tools and scripts. Automation of development, staging, and production environments were effected.
Monitoring: Monitoring of insurance app performance and providing summarized reports of customer claims, risks and policies.
Enforcing consistency, creation of identical development, staging, and testing environments based on the same configurations.
key benefits & results
Load Balancing ensures the client to have a highly available, high-performing front-end of the insurance application.
Service uptime significantly increased and nearly zeros downtime of the production environment.
Increased customer satisfaction index based on customer experience with policy servicing requests.
Reduced lapse and surrender rates because of the quick policy servicing by the customer service.
With help of the automate app and web services, the client offers on-field inspection of accidental cases, which has gradually reduced false claims by 30-40 percent.
Reduced cycle time to launch new services on the client's cloud based customer servicing platform.