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Ranked as one of the top 10 insurers and grossing approximately $22 billion per year in revenue, this Insurer is embarking on a large-scale modernization of their IT systems. Their primary business is supplemental insurance that covers customers’ gaps in their other insurances. They sell to and through human resource departments. Typically, customers would buy a plan through their employer. The Insurer leverages both agents and brokers (independent agents) as their primary channel. The Insurer has brand recognition that is on par with Coca-Cola, but has been only able to penetrate 5 percent of the global employee market.
The Insurer wants to modernize their IT systems to increase agility giving them flexibility to:
Prior to modernization, the Insurer’s infrastructure consisted of traditional heavy weight ESBs and a substantial .NET backend. The time to build and deploy changes was six months or longer, and not as responsive to the Insurer’s market needs. In addition, the risks to deploy the changes were often very high. Their applications were built as large monolithic applications requiring several changes to be deployed at the same time due to the availability of deployment windows.
The Insurer’s vision for modernized IT systems included:
They needed to go beyond API basics. The Insurer chose the on-premises Akana platform with a hybrid option. As the foundation of their modernization strategy, the Akana platform provides a standard and configurable way to:
The Insurer has the Akana API Gateway capabilities in production and are working on branding the developer portal and defining customized workflows for partner onboarding. The Insurer plans to establish an Agile development process that will be enabled by the portfolio management and DevOps capabilities of the Akana Platform.
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