Optimized P&C operations with Sapiens Stingray and dedicated team
Services Offered: Dedicated IT Team and AWS Cloud Migration
Industry: Insurance
Overview
Client Overview
Challenges
The insurer was challenged by increasing competition in the P&C market and saw a need to increase its efficiency, offer quicker solutions to its customers, and reduce costs. Their goal was to improve their billing processes to streamline commissions. They opted for Sapiens Stingray (then Maximum Processing), which is a modular, browser-based P&C solution for policy (quoting, rating, issuance), billing, claims, and reinsurance administration along with statistical bureau, DMV, imaging, credit card, general ledger, comparative raters, CLUE, 4SightBI, reporting, and many other third-party interfaces.
Deployed in 2015 by their internal IT team and a third-party vendor, Sapiens Stingray fell short as the implementation was unsuccessful.
The insurer continued to use the failed Stingray implementation and spent a considerable amount of time, money, and human resources (various dev teams) trying to fix the issues.
Solution and Strategy
Deliverables
Amzur’s team reimplemented and deployed the Sapiens Stingray.
Amzur suggested migrating the data warehouse to Amazon Web Services (AWS) and designing and implementing the automation for warehouse refreshes and reports using Python. The IT updates had to be done regularly to catch up with the ongoing demand and technical requirements, the third-party integration, and user requests, which halted operations across business units. While analyzing the needs of customers, the team discovered that the company’s reporting was poor. They could not access the data themselves and had to reach out to a software developer. The business as a whole did not receive the daily reports. The daily reports were generated by the software developer and then mailed to each business unit.
To improve process times, the Amzur team migrated, designed, and implemented a private cloud in AWS for the development and testing environment of Stingray. After troubleshooting, the team fixed the billing and commissions modules because the former was not working properly, resulting in faulty invoice amounts being mailed out and commissions not being paid on time. It took 80 staff hours to recalculate commissions and pay every month.
Methodology
Benefits
Because the development team was previously utilizing waterfall methodology, it took two-to-three months on average for each release. Amzur initiated and implemented the agile methodology used today.
The Amzur team could optimize the release time to every two weeks. They continuously collaborated to improve the technical expertise of all platform users and taught the internal IT team to better understand the requirements of the P&C mandates and necessities. They improved and accelerated internal processes by 125%.
The Amzur team migrated, designed, and implemented a private cloud in AWS for the development and testing environment of Stingray. The move to AWS helped reduce the dev/test cycle from two days to two hours. Post-migration, business units could receive their reports by a specific time as required. After fixing the issues related to the billing and commission modules, the Amzur team could improve invoice management. The commissions are now viewed in near real-time.
The Amzur team members have been able to complete and provide successful results on the following projects for our P&C Insurance client:
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