Digitalisation of business workflow to support ambitious business growth plan 

  • An American global financial services firm acquired an independent insurance broker to develop insurance services in a new strategic vertical sector, with ambitious growth plans
  • Many of the existing business processes at the acquired company were manual and paper based, with insurance requests, quotes and documentation all being handled manually
  • Lack of technology was clearly a business inhibitor, with a high cost-per-transaction and a reduced target market, limiting future growth
  • The existing processes made it very difficult to respond to market and regulatory challenges

Design and deliver an electronic solution automating business workflow

  • GFT was engaged to perform a full review of the current business workflow and propose a new automated process
  • Design and deliver an electronic solution with a fully automated process providing: collection of insurance requests via a web interface, evaluation of requests to ‘price’ and generate quotes via automated algorithms, automation of all documentation and downstream processing
  • Built using serverless architecture with AWS Lambda, using ReactJS with Redux and Java for the back-end. Continuous delivery pipeline uses the AWS tooling to version, build and deploy
  • Delivered using a mixed-shore, multi-disciplinary team based in London and Sao Paulo

Use of AWS cloud and Lambda serverless provides a low-cost of ownership for the platform

  • Greatly reduced cost-per-transaction and dramatically improved response time (now immediate)
  • Ability to scale the business in existing markets and enter low-value, high-volume markets
  • Improved client experience and workflow drives increased business and loyalty
  • Fully configurable system allows products to be added or changed, without changing software
  • Consistent process and data reduces errors and allows the client to utilise advanced analytics to inform future business strategy and respond quickly to regulatory requirements

To learn how your business can adopt our approach, please get in touch