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Microservice Architecture for Insurance

Insurance technology has greatly evolved in recent years. With the now widely accepted use of microservice architecture and use of APIs, Insurance Carriers and MGAs can have the technical foundation they need to support and extend their diverse and complex insurance products.

Insurance technology is becoming granular. Insurance Carriers, Managing General Agencies, and Program Administrators are no longer constrained by using one monolithic technology platform for their insurance administrative needs. They can now easily create unique Cloud-based API-centric technology platforms and customer ecosystems that simplify the management of their distribution partners and customers as well as the purchasing and administration of their insurance policies. This new “API” approach to technology provides nimbleness, decreased costs, reduced time to market, and provides unlimited opportunities for new revenue and distribution channels.

Policy Administration: Monolithic versus Solartis Microservices 

With Solartis Insure, your company can break down monolithic policy administration processes into discrete services, accelerating initial development and maintenance efforts will improving the entire policy administration user experience. Access Solartis Microservices on any device (i.e., laptop, iPad, iPhone, Chatbot) through Solartis provided screens or through API calls from your technology platform.

Carol McKenzie, VP of Sales and Marketing, explains how Solartis Insure eliminates the restrictions found in monolithic platforms, reduces system costs, and supports unlimited opportunities for new revenue and growth.

Benefits of Microservices

Get to market quicker Solartis Insure microservices enable insurers to launch insurance products twice as fast compared to traditional insurance software deployments. Microservices easily integrate with APIs from other industries and can easily be combined and configured to meet specific business needs.

Build better insurance products Traditional policy administration software comes with a hidden price tag: the inability to rapidly respond to new and innovative product offerings and distribution channels. A microservices architecture provides custom product options and extends your reach to other distribution channels to generate business at the point of need.

Optimize speed and performance Solartis customers have increased the speed of their customer-facing applications by up to 100%. A microservices architecture like Solartis Insure is the foundation for a high-performing insurance business process. Microservices are independently deployable and modular.

Give Solartis Policy Life Cycle Microservices a try in our 3 Sandbox environments

 

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Still not sure how Solartis microservices can help?

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