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Building a central insurance system with the use of Altkom Insurance Suite components
What was the goal of the project?
Before the start of the project, our client, Ubezpieczenia Pocztowe (now known as AGRO Ubezpieczenia), had two separate insurance systems: one for property and another for life insurance. The company also had several front-office systems in place to handle all the different areas of its activities.
The management board of Ubezpieczenia Pocztowe decided to undertake a centralisation project to move its systems to a single solution that would meet all the company’s business needs. What they were looking for was a solution to streamline all current processes and enable a quick deployment of new insurance products. They expected the new system to boost sales conversion rates thanks to well-configured customer journeys. In order to achieve this, we turned to Altkom Insurance Suite, a flexible insurance management ecosystem.
2015 – 2017
Insurance
- Software engineering
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Who did we help?
Ubezpieczenia Pocztowe are part of the Poczta Polska Capital Group. The company offers a wide range of simple and accessible property and life insurance options that can be taken out at nearly 4500 Poczta Polska post office locations throughout the country.
What were the biggest challenges of the project?
- Migrating functionalities and processes from different systems to a single solution;
- Accelerating premium calculation and policy issuance processes. Before the project, they took too long and post offices could not afford to further drag out their customer service processes;
- Deploying low-code solutions for configuring new and changing existing insurance products. Expanding configuration options while reducing the need for coding on the client side.
How did we address the challenge?
We deployed, expanded and provided maintenance services for selected Altkom Insurance Suite components from four different layers:
- Product Factory (microservices: product configurator, product catalogue, tariff engine);
- Policy Center (microservices: sales and commissions, subsidiary ledger, claims and policy management, billing and debt collection, entity records);
- Claim Center (microservices: claims and payout management, configuration, billing, subsidiary ledger, communication);
- AIS Portals (portals: AIS Agent Portal and AIS configurator).
Deploying AIS components allowed us to shorten the policy issuance process quite significantly, while the selected Product Factory microservices made it easier and cheaper to configure new products that had not been previously available in the Ubezpieczenia Pocztowe portfolio.
At present, the client’s insurance products are sold via the AIS Agent Portal which, according to the company’s employees, is much more intuitive and easy to use than the previous solution. End customers get their insurance quote within 30 seconds and the whole policy issuance and sales process (including payment) can be over and done with in a matter of just 3-5 minutes.
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What did our cooperation look like?
Analysis
We identified the key system components to migrate and the main processes to streamline.
Architecture
We designed a modern solution architecture, selecting the most appropriate AIS portals and microservices.
Implementation
We deployed the selected AIS components and adapted them to our client’s needs so as to streamline the management of key business areas.
What did we achieve?
The number of premium calculations and policy applications doubled just 3 months after the new system was deployed.
Newly designed customer journeys increased sales conversion rates by 30%.
Within 3 years from the deployment of the new solution, the premiums due increased by 250%.
What technologies have we used?
Java
Spring Boot
Angular
Jasper Reports
RabbitMQ
PostgresQL
Department DirectorDuring the cooperation, Altkom Software demonstrated not only professionalism and the necessary insurance knowledge, but above all, flexibility, which has helped them respond quickly to changes in the requirements.
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