Swiss Re Revolutionizes the Insurance Industry
Swiss Re are pioneers developing powerful cloud-based digital solutions for their clients.
- Solutions in this case
Swiss Re stands out in the fiercely competitive reinsurance market by offering microservices such as an automated claims app to their clients. With this app passengers whose flights are delayed or cancelled will automatically have a claim lodged on their behalf, which then can be processed within the hour.
The Swiss Re team wanted to develop microservices in order to gain access to new risk pools and give their clients more product offerings. They decided their first microservice would be an automated claims app. Before they could develop the app, they needed a new cutting-edge tech infrastructure. Future-proofing their business meant stepping away from on-premises solutions and moving to a flexible, cloud-based platform. Microsoft Azure was the only contender that fit the bill. Codit’s expertise in Azure made them the perfect partner.
The right platform, the right partner
The Parametric and Emerging Solutions unit is a team within Swiss Re that develops new products and solutions for clients in the insurance industry.
They decided for their first microservice project to develop an automated claims app based on flight data they had available, because of their strategic partnership with FlightStats.
The challenge for the team was to find a platform agile enough so they could quickly develop new product offerings that are scalable, globally deployable and have a modern DevOps workflow to guarantee maximum up-time.
The first task was to find the right architecture from a technical point of view – which meant moving away from their costly on-premises platform, and onto a cloud-based platform. The second task was to find a development partner with Azure expertise.
Wasting no time, Codit and Swiss Re joined forces and developed a robust Azure-based architecture. Once the architecture was up and running, Swiss Re released their first microservice offering: a multi-tenant claims app based on real flight data.
A flexible and robust architecture
In a matter of weeks, Swiss Re and Codit, developed a working prototype of the automated travel claims app. To deploy the architecture as fast as possible, without compromising on quality, Codit used several powerful Azure services, such as Azure App Service for the web interface, Power BI for reporting, Azure API Management for API security and governance, and Azure Logic Apps for building a workflow for automating and monitoring the system.
Further to this Codit uses Azure SQL Database with Elastic Pools to simplify the management of partitioned databases.
Once the architecture was in place, Swiss Re uploaded five years’ worth of flight data to the system. They then rolled out their first app that automatically submits claims on behalf of passengers for incidents such as delayed flights or cancellations. An automated process on the back-end then processes the claims within the hour.
This offering is a ‘plug and play’ solution for distributors such as airlines, travel agents, and insurers.
Codit knows its way through Azure like no other. ”
By partnering with Codit, Swiss Re had a robust Azure-based platform, and deployed their first app, all within a record-breaking 8 months. Swiss Re has immediately seen a strong return on investment on their first microservice. They plan to forge ahead developing new projects where automated, cloud-based Azure services can be deployed.
Fast ROI on multi-tenant claims app
The result of the Codit and Swiss Re collaboration is a fully automated, scalable claims microservice. The project went from ideation to realization in only 8 months, thanks to the expertise of Codit and the flexibility of the Azure services. Codit Managed Services continues to support the microservice behind the scenes.
This project means that Swiss Re now can tap into a risk pool they previously couldn’t access. For them, it’s an area of high-potential growth.
“We are already seeing a return on investment,” says Alan Wales, Senior Solution Architect Property and Casualty at Swiss Re “This has encouraged us to identify multiple areas that are functionally similar across projects, where automated cloud-based Azure services can be deployed. This modus operandi will allow us to reuse a tremendous amount of services. We are convinced this platform can only be to our advantage.”
Swiss Re are in the process of expanding their distribution network so they can continue to sell their product and capitalize on the initial investment.
A word from the client
“Codit played a key role by translating the business need into IT language. Swiss Re has benefited a lot because of the know-how that we have gained.”
Gianni Biason Head Parametric and Emerging Solutions Swiss Re