At a high level the software requirements for every insurance company seem the same. Every company needs to be able to underwrite, to manage policies and lodge claims.
But in reality, every company’s needs are different and complex making it difficult to define at the beginning. This can cause many projects to fail or run over on costs.
But the initial cost is just the tip of the problem.
While introducing new insurance software can be expensive, it can be much more expensive to adapt and extend the system to meet inevitable new requirements as the business changes and grows.
Today’s insurance companies need a solution that is designed for change.
Our process allows an adaptable, extensive, and precisely tailored solution to be delivered quickly by small teams. It reduces project complexity, cost and duration, while delivering a solution that helps provide a seamless customer experience.
And cost is not the only drawback of building internally.
Instead of allowing insurers to respond rapidly to changing customer needs, this method simply slows down innovation. In fact, 60% of companies* said it can takes over one years to create new products. And 25% said over two years.
We start with workshops with all stakeholders and subject matter experts, to clarify the high-level requirements and identify the risks, resources, boundaries and limits and to plan the project.
We select the team and equip them with the key tools and infrastructure required to launch the project.
We select from hundreds of modules that can be rapidly assembled and configured to suit the unique set of policies, processes and systems that each company requires. This means we can quickly build very complex solutions that are precisely tailored to our clients’ needs.
We have a large R&D team constantly enhancing and updating Axelerator. We roll out releases every 2 to 3 months to our clients. These are tested across the entire application to make sure our clients are not affected by any changes.
We have a very flexible approach to support and development services, and tailor our services model to suit each client.