Highlights
Underwriting services reduced from days to seconds
Solution scaled to manage USD 834M underwritten premiums
Time to live less than 9 months including regulator approvals
Situation
Bringing innovation to a centuries old market, the first of its kind to provide algorithmic underwriting as a digital platform. It reduced a process that previously took days down to seconds.
Action / Approach
This was achieved by targeting a Google Cloud native approach to designs, development and software delivery, including broker portal and integration into key external systems. Leveraging an API first approach to ensure that new channels could be exploited, and the capability of the solution could continue to grow.
Result(s)
Working closely with the customer, an initially standalone development team evolved to augmented upskilling, finally to full hand-over.