Transforming the way insurers operate
Today’s insurers have to react to market changes quickly and grasp new opportunities as soon as they arise. It is essential that IT departments are agile enough to keep pace but instead they frequently find themselves under enormous pressure.
RDT’s cloud-based Landscape Rating Engine (LRE) offers insurers a fast, economical way of scaling their business to drive growth while at the same time supplementing their IT resource.
Developed on the Microsoft Windows Azure platform, the Landscape Rating Engine in the cloud will radically change the way insurers provide quoting services and create a new way of managing online quotations:
Lower IT costs
Customers can start using LRE on Azure immediately as it requires no upfront IT investment, with no need to purchase new hardware or software. The solution will significantly ease the burden on customers’ in-house IT departments and deliver further cost benefits by allowing customers to pay only for processing power that they have actually used.
To maximise new opportunities, for example from aggregator sites, insurers must be able to provide instant quotes to tens of thousands of requests a day. Speed and reliability is key. The LRE on Azure provides insurers with the on-demand computing capacity needed to manage bursts in activity over short periods, such as when handling quotes for the insurance aggregator sites .
Using the vast computing and storage capacity in Windows Azure, the processing capability of the LRE can be boosted on demand to deal with spikes in business volume simply by initialising additional virtual servers. This scalable environment can expand or contract according to a customer’s needs.
Faster time to market
Thanks to Azure’s elastic environment our customers will be able to apply changes to rates instantly and launch new products to market faster than before.
Easy to manage IT infrastructure
The LRE exists in the cloud, reducing the burden on insurers of having to maintain its IT infrastructure in-house. New servers can be automatically provisioned and up and running whenever needed.