Mammoth move: Life insurer with 60 million customers migrates to cloud, grows partners 15x

by Digital Transformation

A prominent life insurance provider in India, with a base of more than 60 million customers, left behind their legacy systems to meet their growing business and added further momentum to their growth. This blog talks about the challenges that made the insurer move to Cloud and how it cut partner onboarding time from 4 months to just 2 days among other benefits. Continue reading to know the outcomes of a successful insurance Cloud migration. 

Challenges that stood in the way 

Despite offering a diverse portfolio of over 30 individual and 10 group insurance products, the insurer was grappling with multiple outdated systems that couldn’t keep up with their growing business demands. Its legacy systems could not handle the shifts in market dynamics and growing demands of agents, partners, and customers. 

One significant issue was the partner onboarding process, which took an extensive four months, severely limiting the speed at which the insurer could expand its distribution network. Additionally, manual data entry into the policy management system was not only time-consuming but also prone to errors, resulting in delays and inefficiencies. The insurer’s partner network wasn’t scaling quickly enough, and the sales channels lacked the optimization needed to meet the market’s demands.  

These challenges ultimately undermined the insurer’s operational efficiency, hindered growth, and limited their ability to generate revenue effectively. 

Solution: Leaving legacy behind 

To tackle the challenges, major upgrades were needed to support scalability, better operational performance and system availability. A strategic Cloud migration was seen as the one-stop solution for this and implemented to modernize their infrastructure. 

Solution overview: 

  • Availability & load balancing: Ensured system reliability and scalability by leveraging AWS’s cloud infrastructure. 
  • App stack migration: Migrated from Amazon EC2 to an Amazon ECS cluster using CloudFormation Stacks for seamless setup. 
  • Microservices architecture: Developed a partner portal using microservices and APIs, enabling flexible updates without complex migrations. 
  • Data platform: Engineered a high-speed data processing platform integrated with customer offerings. 

Transformational results 

The cloud migration and portal overhaul led to dramatic results for the insurer, both in terms of operational efficiency and revenue generation. 

  • Reduced partner onboarding time from 4 months to just 2 days, leading to a 15x increase in partners (from 10 to 150) within a month. 
  • 150% increase in revenue per product due to expanded partner base and customizable product offerings. 

Apart from that, policy management system automation largely reduced errors and freed up resources for more strategic tasks. The enhanced platform capabilities enabled faster transaction processing and better service delivery. Read the case study to know how the improved scalability enabled the insurer to handle higher transaction volumes, leading to higher CSAT scores. 

Embracing the Future of Growth 

The case study highlights the significant impact of insurance cloud migration and legacy system modernization. By adopting innovative, custom cloud-based solutions and streamlining processes, the insurer not only overcame key operational challenges but also saw revenue growth. 

If you’re looking to unlock similar transformations for your business, Aspire Systems can guide you every step of the way. With our expertise in cloud migration, system optimization, and partner portal development, we are equipped to help you enhance your infrastructure and drive scalable growth. Write to us today at info-india@aspiresys.com to start a conversation. Explore our offerings to support your digital transformation journey at www.aspiresys.com. 

Sindhu Chandrasekar
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