Digital Broker Application Delivery with DAPx
Our customer is a wholly Irish-owned life assurance company that transacts business in Ireland. The organisation provides life assurance, pensions, and investment solutions to individual and corporate customers.
As part of an ongoing digital transformation and innovation strategy, Version 1 partnered with the customer to define a strategy to deliver a technology transformation approach to decouple point-to-point solutions limiting reuse, and to assess key solution providers for core transformation initiatives e.g. Broker Connectivity, and Insurance Services.
The Key Challenge
The customer required a digital sales platform for the broker community to highlight the company’s personal and corporate pension products.
Due to the nature of the data and regulatory compliance, the solution had to provide compliance ‘out-of-the-box’, to accelerate the product delivery cycle.
Version 1’s Digital Acceleration Platform, DAPx, was leveraged to provision the AWS Cloud Infrastructure in partnership with the customer’s compliance team, with Version 1 retaining operational management of the platform allowing the customer to concentrate on business capability and value.
The platform is connected to approximately 70% of retail and corporate brokers in Ireland and supports a key strategic initiative for the customer. DAPx was leveraged to enable multi-device options for brokers to process customer applications and offer straight-through processing. In line with DAPx’s transformation at speed, the application process was completed within 3 months.
As a result of this engagement, the following benefits were delivered to the customer:
- Successfully delivered a Digital Broker Application for onboarding new business to market in less than 5 months
- Fully integrated application into the organisation, Document Vault, CRM, and mainframe, with the application process streamlined
- Improved delivery efficiencies, reducing time to market through incremental delivery practices
- Adoption of new delivery processes and technology stacks within the organisation