Client is based in USA and specialized in all lines of personal and commercial insurance and his company works as "one-stop-shop" for multiple quotes to clients and prospects nationwide via their website. The client has an idea of displaying all the insurance products from various carriers so that they can evaluate multiple options and opt for the best suitable policy for them.
Key challenges in developing this system were:
- A system capable of automating insurance processes which manage insurance policies provided by different insurance carriers, Dynamic quote generation based on custom requirements of the customer, full coverage and liability options of the insurance.
- Dynamic display of insurance policy and their related policy details is based on the zip code details and question answers threads of a customer.
- A web-based solution that is adaptive, customizable, innovative and capable of catering the needs of customers.
- A system is also highly secure, reliable and scalable to protect the data of the customers
Database:Microsoft SQL Server
Third Party Tools:Ezlynx API, Dots Service Objects, Docusign
TatvaSoft has created the solution in form of "Auto/Home Insurance" Portal. It facilitated customers in identifying insurance policies offered by different carriers and advantages associated with each of them by comparing them to other carriers. It allows "on the fly" quote generation based on their specific needs and requirements by answering quick questionnaires.Following are the important features of Project:
- An interface where the customer will be asked about necessary basic questions about the requirement of their insurance, their specific needs, their budget and premium requirements, complete payment and purchase policy demands.
- Policy data is displayed on numerous screens and easy navigation between them.
Automatic quote generation
- Portal generates an automatic quote based on answers to the questions asked. Portal has an API that collects data from all the insurance carriers and displays it to the customers.
- Customer displays different quotes of different carriers that they can compare and avail the best of them.
- RETRIEVE PREVIOUS QUOTE functionality for customers, to save entered details and come back when required, to have the same quote.
Payment for Policy
- Once the customer selects the policy, and it gets approved by admin, Portal has the functionality to make payment in either full amount or in instalment. If instalments are selected, the account would be auto-debited on the specified date with the premium amount.
- Admin has the functionality to manage all carriers that offer various insurance products/types and manage all the supplemental details about them.
- View of all the customers that have requested for the quote and customers who have availed for the policies from the platform.
- View of all the claims that have been submitted by the customers for policies that they have purchased from the platform as well as renewal customer policy details.
- It also has the functionality to generate the report on the website analytics.
Client was able to streamline the entire process of analyzing, identifying real-time statistics and obtain strategic results. Client drew many benefits with its association with TatvaSoft that include seamless integration with the accounting system, creating time savings, fact based planning and scheduling that managed sale and quotes and easy availability of reliable and accurate information that helped in making effective business decisions. Client Company helps people easily compare rates from numerous insurance carriers and then purchase an insurance policy within minutes.