The client is a prominent insurance company facing industry-specific challenges in a rapidly evolving market. To stay competitive and address these challenges, the client embarked on a transformative journey by adopting cloud solutions with the help of Sparity.
ClientInsuranceServicesAWSYear 2024
Key Challenges
- The client grappled with outdated legacy systems, resulting in data fragmentation and making it difficult to gain holistic insights into customer profiles and risk assessments.
- As the client’s customer base grew, traditional infrastructure struggled to scale during peak seasons, causing performance bottlenecks and system downtimes.
- Increased customer dissatisfaction, potential revenue loss, and heightened operational risks.
- Stringent regulatory requirements in the insurance industry necessitated a robust approach to data security and compliance.
Technologies
Solution
- Sparity Conducted a comprehensive assessment of existing on-premises systems using tools such as AWS Migration Hub to identify dependencies and potential challenges.
- Selected AWS as the cloud service provider, considering industry standards and compatibility, and initiated a phased migration plan using AWS Server Migration Service.
- We Utilized Docker for containerization and Kubernetes for orchestration to ensure portability and manageability of applications across different cloud services.
- Utilized Apache and Talend for efficient data extraction, transformation, and loading (ETL) between on-premises and cloud environments.
- Implemented a data governance framework to enforce policies and standardized data formats for consistency and reliability.
- Our team Implemented AWS Elastic Load Balancing to evenly distribute incoming traffic across multiple servers, ensuring efficient resource utilization.
- We Utilized cloud-native monitoring and alerting tools such as AWS CloudWatch for proactive identification of performance issues and automatic scaling responses.
- Enabled encryption for data at rest using AWS Key Management Service and implemented TLS/SSL protocols for data in transit.
- Implemented multi-factor authentication (MFA) for access control to enhance user identity verification.
- Integrated SIEM solutions such as Splunk for real-time monitoring and threat detection.
Benefits
- Streamlined processes and reduced time-to-market for new products lead to improved operational efficiency.
- Leveraged unified customer data for personalized services and faster claim processing results in an enriched customer experience.
- Realized cost savings by 50% through the elimination of legacy system maintenance costs and optimized resource allocation in the cloud.
- Successfully passed regulatory audits and built trust by demonstrating a commitment to data security and compliance.
