Background and Business Needs:
M company is a leading financial portal in Southeast Asia region, providing price comparison services around various financial products, from loans to credit card. In 2017, to expand its product portfolio, M company planned to quickly launch car insurance price comparison services on its portal.
Challenges:
Providing real-time auto quotation requires the integration to various auto insurance companies’ core systems, which would take big efforts and demands for insurance IT business domain. As a FinTech startup, M company does not have the related business domain while the company wanted to achieve the connectivity in a cost effective and short-time manner.
Project Brief:
eBaoTech has extensive experience in insurance industry by working with more than 200 insurers in 30 countries. eBaoTech’s middle office solution, eBaoCloud® InsureMO® is an insurance PaaS platform with containerized microservices and APIs for general, life, and health insurance businesses covering the entire lifecycle of policies, and enable third parties to develop applications.
M company selected eBaoCloud InsureMO as the middle office to connect its financial portal with insurance companies’ core systems and provide auto insurance quotations by API calls. The actual screens (UX and UI) were developed and managed by M company in order to ensure a unified user journey for the consumers.
Results and Outcomes:
By calling the APIs from eBaoCloud InsureMO, M company was able to connect to six Singapore-based insurers within five months. The PaaS platform also provides M company with the high scalability and agility for unexpected huge business volume thanks to the cloud and distributed architecture. InsureMO currently supports M company to provide auto insurance quotations to a few hundred customers every day.