The insurance industry is increasingly focusing its efforts on modernizing its technology platforms. Companies are looking for innovative ways to differentiate themselves from their competitors and work more efficiently.
At Digital55, within our , we have carri out software development and update projects for companies such as Nacional Re, Mapfre, Axa and Asisa. These have cover all types of nes, from the improvement of corporate websites to internal management and insurance calculation tools, thus contributing to boosting their growth and the quality of their responses.
Software development for reinsurers
For about two years now, the number of reinsurance services contract has increas, as a result of both the pandemic and other adverse situations. In this context, more and more leading companies in the reinsurance sector are opting to update their ways of working, mainly by implementing or developing software.
Some of the most request developments by these insurers are the pricing systems , management platforms and corporate websites , essential to maintain the principles of sustainability and transparency for which they always seek to be recogniz.
However, technological innovations relat to internal processes , such as the calculation of risk premiums , are noteworthy . This contract is essential in the insurance sector : it is necessary to consider in depth the client profile and the coverage that can be offer to them so that the exchange is fair and convenient for both parties.
While this task is one of the most important, it is often also one of the most complex and routine. Countless factors come into play, data that must be combin together to be transform into useful information.
In order to facilitate this task, at Digital55 we are working on the conceptualisation and development of an application for calculating and managing risk premiums for Nacional Re . Its intelligence is bas on a set of decision trees creat specifically for each pathology by experts in the insurance sector.
Experience in the insurance and reinsurance sector
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What does the project involve?
When insurance operators ne to calculate an insurance policy, they have this tool as an assistant. In it, they can register the interest party and ask them a series of questions. These questions are determin by the decision tree, which acts automatically bas on each of the answers given.
In this way, the insurance company’s staff can ruce their workload to completing the data request by this assistant, which will be enter quickly and easily.
At the end of these questions, the application provides an exact risk premium. This greatly simplifies your work and provides a more precise calculation .
This process will also store user data in a file for later consultation, ensuring better traceability in the future.
It is worth mentioning that there is a specific decision tree for each pathology , so it is not necessary to go through the entire process in case there are modifications to be made to a profile.
Since the application is design to simplify the work of both Nacional Re and the insurance companies it brings together, there are two types of administrator with different permissions. For example, the administrators of Nacional Re will be able to access the pathologies to keep the data updat and add new ones, while the administrators of the insurance companies will not have these permissions, with more limit access.
The process: developing a risk calculation application
As we do with all our projects, in this case we have appli a SCRUM methodology .
In the first phase, we held meetings and exchang information and documentation to gather requirements . Bas on this data, our team carri out a consultancy, thoroughly analysing both the client’s nes and requests these beautiful web animations strengthen your brand and the most convenient way to carry them out. In this way, we present a first proposal in which, for example, the technologies to be us and the basic structure of the platform were determin.
The final result even before having written
Having very clear the architecture and database requirements that would support the entire application, in this case we have made a design-driven development. At the beginning of the project, we give priority to the definition of an exact prototype of what the application will be like. In it, the structure , the different blocks and their behavior are made very clear , so it serves as a reference document. Having such a detail prototype gives room for the client to approve it or make suggestions or modifications. In addition, it gives him a very clear idea of what he will find in the delivery, seeing the first line of code .
What technologies have we us?
In this project, we maintain a principle that we apply to most of our work for its advantages, which is to separate the back from the front.
The backend has been built in PHP , using the Laravel framework for the API . This encapsulation of the backend in latest bulk sms an API makes development much more flexible and scalable for the future.
The backend is responsible for managing user in a consistent and secure manner. The data model it uses is specifically develop bas on the query parameters requir by administrators.
Requests and storing and maintaining data
It is design as microservices, a modular development that will allow different parts of its code to be reus in other client projects, as is the case with the notification and alert system or the menu.
Likewise, the database is separat for authentication, so that it can be shar and us in all Nacional Re applications, as a.
Single Sign On system
The frontend is built with Angular , one of our favorite technologies. This JavaScript framework , one of the most recogniz on the market, is ideal for this type of graphical interface thanks to the immense possibilities it offers.
