AI-Driven SaaS Platform for Insurance

The life insurance market opportunity in the United States is huge. However, because of legacy systems and distribution models, the target market faces challenges such as lack of awareness, access, and ease of transacting. An estimated 100 million households are uninsured. There are 33% of households that are underinsured, while an estimated 66% of the uninsured and underinsured market would buy – if asked. Some of the major pain points of insurance providers across the United States in capturing the untapped market are:

• High acquisition cost of a solution
• Beholden to intermediaries
• Change in selling capability
• Disruption from new entrants and ecosystems
• Mortality fluctuations

• Flexible platform that allows easy and quick integration of different products such as lIfe, annuity, disability insurance, simplified issue, and medicare
• Designed to cater to multiple and multi-level products, customer, agent, and agency relationships
• Microservices architecture supports parallel integration and enables multiple teams to work together without blocking dependencies
• Code branching and versioning to support multiple product integration at the same time
• Generic journey engine that helps to configure any number of high-performance user journeys
• Web platform for uploading contacts, managing digital marketing campaigns, and visualizing insights and predictions
• Secure platform that meets OWASP standards ‒ targeted to secure SOC2 compliance
• Flexible platform that allows easy and quick integration with partner CRM and SSO
• Agent/partner login and data segregation
• Scalable platform that allows adding any number of clients/partners
• Integrated marketing workflows
• Advanced reporting and dashboards capabilities through Power BI business data analytics
• ML and data modeling for behavioral insights and target predictions
• Graph database based journey/rule engine that caters to multiple user journeys using plug-and-play widgets for affiliates

The SaaS platform covers all the major business functions of insurance sales and distribution with secure cloud integration:

• Intelligent lead generation and aggregation
• Lead nurturing and management
• Lead transition
• Application management
• Case management and underwriting
• Issue and activation
• Policy administration

• 36% increase in ROI
• 65% reduction in customer acquisition cost
• 28% reduction in burn-rate of prospects
• 34% increase in conversion rates
• Optimized marketing spend

• Frontend: Angular, Blazor, jQuery, HTML5, CSS3
• Backend: ASP.NET Core, Azure Blob Storage, RabbitMQ, Hangfire, MassTransit
• Database and storage: Neo4j Graph DB, Azure SQL, Azure Redis Cache
• Data Analytics: Azure Databricks, Azure Data Lake, Google Analytics
• Orchestration: Microservices, Docker, Azure Kubernetes Service, Ingress
• Security and monitoring: Azure Front Door, Azure Monitor, Azure VPN Gateway, Azure NAT Gateway, Azure AppInsights
• UX & Design: Adobe XD, Figma, Invision