A leading US automotive insurer, which provides vehicle service contracts and vehicle warranties through dealers and agents, is working with Monad Solutions Ltd, specialist Oracle Policy Automations (OPA) IT Consultancy, to launch a cutting edge automated management system.
The new system will streamline administration processes and dramatically improve performance, turnaround times and ease of use.
The insurer has grown exponentially. Legacy and manual processes no longer serve business requirements. Existing systems were costly, labour intensive and challenging to maintain. Similarly, complicated and confusing systems delivered poor customer service for both internal system and public web users.
Monad recognised the need for improved system performance via an easy to use automated system that was accurate, flexible and highly maintainable.
Further enhancing cost-efficiencies, non-technical system administrators needed to be able to make system updates and changes and launch new products with precision, speed and ease.
By introducing a multi component OPA solution, Monad took the myriad of rules and processes and transferred them into one scalable system, designed to evolve and adapt to business changes and future expansion. The new system has enhanced both business process and usability.
This was achieved in a number of ways: a bespoke Rating Engine Rule base was designed to map the complex business rules into a natural language form; an Oracle Determinations Server (ODS) allowed existing applications to be integrated with the Rating Engine Rule base via a SOAP web service interface, while the implementation of a Java Customisation Layer (JCL) improved speed and performance.
The new automated systems will be transformational for the Insurer and will positively embrace and adapt to new and existing complex rules, on-going service improvements and product launches.
Performance has been optimised; an eight fold improved response time for multiple quote requests has reduced the wait time from 24 to less than three seconds. The system has inbuilt flexibility; as new innovative products come to market, they can be launched with ease. Systems are time-efficient; it will take less time to develop, test and launch new product series.
Furthermore, the system design enables everyday business users, without specialist technical expertise, to manage and maintain the systems effectively.
Importantly, all rules are date-enabled, which allows compliance with audit requests at any time including detailed decision reports and human-readable audit trails on how a rate was calculated.
Hanno Hesse, Head of US Operations at Monad Solutions commented:
“Monad is delighted to bring our expertise to this exciting large-scale project, and deliver true benefits to the Insurers operating systems and overall business performance.”
By developing an in-depth understanding of the company as the project has progressed, we have delivered further customised improvements outside of the original brief, which has been really rewarding.
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