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Online Insurance Policy Purchase Application  
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Life Insurance Sales Illustrations  
 
 

 

 
 
 
     
   
 

Arion empowers leading insurance player a new channel for policy selling

   
 

The client

A premier financial powerhouse and a leading international financial services group headquartered in the United Kingdom, it was among the first private sector insurance companies to begin operations in December 2000 in India after receiving approval from Insurance Regulatory Development Authority (IRDA).

The business need

Set up the end-to-end process and software infrastructure to enable sale of life insurance policies through the Internet, as well as through Corporate Agents.

Technology Challenges -

  • There were complex financial calculations that needed to be rendered on the fly to the user, which was a potential performance bottleneck.
  • Numerous validations had to be built on the front end to ensure that the data was accurate and acceptable by the existing legacy systems.
  • A large number of concurrent users were expected on the system, so the response times had to scale up to those needs

Arion’s solution

Technology Architecture

The Technical Architecture of the application includes

  • Web Server: Apache
  • Web Server Operating System: Red Hat Linux
  • Development Platform: J2EE
  • Application Server: Weblogic on Solaris
  • Database: Oracle on Solaris

The application was designed to meet the following objectives

  • Scalability
  • Performance
  • Reusability
  • Complete Utilization of available infrastructure

Results

  • The application, which was up, and running within 1 month has become an active medium of Policy Sales. Based on the initial performance, over a thousand policies are expected to be sold in the next quarter through this medium.
  • Besides the direct sales of the policies there have been numerous leads that have been generated through the medium which have resulted in increased sales.
  • Arion has successfully extended the same platform for the client's Corporate Agents
  • The technology architecture that has been effected can now extend to all types of policies.
  • The Integration Solution that Arion devised for this application has become the backbone of Web-Legacy application integration in the organization. Arion has successfully built a Scalable, Extensible and Reusable Solution that has led to huge cost savings.
  • Through this application Arion helped this insurance player strengthen it's image as an early adopter in the use of technology to improve services to its clients.