Insurance & Asset Management Solutions Provider

Industry: Banking, Financial Services & Insurance

Delivery Center: Europe

Insurance & Asset Management Solutions Provider

Industry: Banking, Financial Services & Insurance

Delivery Center: Europe

Industry Context

Global insurance industry leaders have granted local regional branches the autonomy to develop tailored software solutions, enabling them to seize immediate opportunities within the market. The client stands as a longstanding and highly regarded entity in the Central and Eastern European (CEE) industry.

The challenge lies in a shortage of qualified software engineers with a comprehensive understanding of the intricacies of the insurance sector. This scarcity adds pressure to swiftly enhance market presence, ensuring the attainment of regional dominance.

Client Challenge

The demand for digital transformation is evident as the client's existing platforms fall short of meeting local needs in Central and Eastern Europe (CEE). Despite identifying promising opportunities for new insurance products, the outdated corporate software proves incapable of implementation. This highlights a critical issue, necessitating the development of a dedicated Sales Insurance platform to overcome these obstacles.

Encora’s Approach

Empowering success for our client's platform involved a strategic suite of services:

Consulting Services: Our team provided invaluable technology and architecture consulting, laying the groundwork for a new and modernized platform
Product Engineering: Through meticulous product modernization, we elevated outdated products onto the new platform we constructed, seamlessly integrating novel offerings
Data Modernization & Engineering: We conducted comprehensive data analytics, visualization, and Business Intelligence initiatives, tailoring custom reports to enhance business insight into workforce dynamics.
Digital Engineering: Spearheading modernization efforts, we undertook the development of a modern Agent & Broker Sales Platform, embracing the latest digital advancements.
Managed Services: Our role extended to application and product maintenance, introducing new processes, and augmenting existing platforms with additional products and features.

DevSecOps: Implementing Automation & Toolchain Optimization, a bespoke tool was crafted to streamline build generation and automate deployments, leveraging AzureDevOps.
Quality Engineering: Serving as the primary quality gate, we defined the test strategy and executed meticulous test plans to ensure the robustness and reliability of the developed solutions.

Results

The development of the modern Agent & Broker Sales Platform marked a transformative phase, with the introduction of new insurance products and additional features that enriched the functionality of the sales platform. The implementation of a novel Claims management application further strengthened our suite of offerings. Robust reporting and analytics for sales activities provided valuable insights, enhancing decision-making processes. Additionally, the creation of a new eLearning platform tailored for agents showcased our commitment to continuous improvement. The impact metrics speak volumes: Policies created witnessed a remarkable surge of 63%, demonstrating the platform's effectiveness, while the introduction of new insurance products recorded a substantial 41% increase, highlighting the success of our strategic initiatives in the insurance domain.