Transforming Core Applications in the Insurance Sector
In the ever-evolving insurance sector, innovation and efficiency are paramount. At ASG, we are dedicated to helping our clients achieve their goals through cutting-edge technology and expert support. Recently, we undertook a transformative project that exemplifies our commitment to excellence and client success. This is the story of how we helped an insurance company streamline its operations and achieve significant cost savings by re-engineering a critical core application.
The Challenge: Outsourced Solutions and High Costs
Our client, a leading player in the insurance sector, was facing a substantial financial burden due to their reliance on a managed service provider (MSP) for a core application. This application was essential for their independent agents, who used it to sell products, generate quotes, and process immediate commission payments. However, the outsourcing arrangement came with a hefty price tag, costing the company over $1 million annually. Additionally, the outsourced solution lacked the flexibility and responsiveness needed to adapt quickly to market changes and internal demands.
The ASG Approach: Bringing Expertise In-House
Recognizing the need for a more efficient and cost-effective solution, the client turned to ASG for assistance. Our team of software engineering experts embarked on a comprehensive re-write of the core application, transitioning the work from the external MSP to an in-house model. We leveraged the powerful and versatile .NET Core framework to redevelop the application, ensuring it met the highest standards of performance and reliability.
Key Improvements and Innovations
- Cost Savings: By eliminating the reliance on the MSP, we helped the client save over $1 million annually. These savings can now be reinvested into other strategic initiatives, driving further growth and innovation.
- Enhanced Control and Flexibility: Bringing the application development in-house provided the client with greater control over the project. This flexibility allowed for more rapid adjustments and improvements, aligning the application more closely with the company’s evolving needs.
- Streamlined Operations: The re-engineered application was designed to optimize the workflow for independent agents. It features an advanced quote engine that enables agents to quickly and accurately generate quotes, enhancing their productivity and customer service capabilities.
- Immediate Commission Payments: One of the most significant improvements was the ability to process immediate commission payments. This functionality eliminated the delays associated with traditional underwriting processes, providing agents with faster compensation and improving overall satisfaction.
- Future-Proofing: The .NET Core framework ensures that the application is scalable and adaptable, ready to incorporate future advancements in technology and business processes.
The Outcome: A Resounding Success
The project’s success has profoundly impacted the client’s operations. The transition to an in-house solution resulted in substantial cost savings and empowered the client with greater agility and control over their core application. Independent agents now benefit from a more efficient and responsive tool, enhancing their ability to serve customers and grow their business.
At ASG, we are proud of our role in this transformative project. It highlights our commitment to delivering innovative solutions that drive tangible results for our clients. By combining deep industry expertise with cutting-edge technology, we help businesses navigate complex challenges and achieve their strategic objectives.
Looking Ahead
As we continue to partner with leading companies in the insurance sector and beyond, we remain focused on delivering value through technology. Our team is dedicated to exploring new ways to enhance efficiency, reduce costs, and support our clients’ growth. Stay tuned for more success stories and insights from ASG as we continue to make a difference in the world of business technology. For more information on how ASG can help your business achieve similar success, and to discuss your staffing solutions, contact us today. Together, we can transform your challenges into opportunities for growth and innovation.
