30k New Leads a Day for Life Insurance Offering

Covéa’s life insurance platform generates 30,000+ leads daily with AWS-powered API suite

Executive Summary

Covéa faced scalability and efficiency issues due to a manual, phone-based insurance quoting system. Our intervention led to a new, AWS-based API and a cloud-based NoSQL database, replacing the unworkable code and solving staffing issues. The result was a significant transformation, enabling the company to process 30,000 real-time price quotes daily whilst ensuring data safety and accessibility through distributed data centres.

The Brief

Covéa offers a wide range of home, motor and commercial insurance. Their Life Insurance product was hindered by an outdated method of manually quoting policies via phone. This process was not only time-consuming but also limited the company’s product exposure, scalability, efficiency, and accuracy. They had attempted to build an API to streamline this process, but due to an internal staffing issue, the project was left unfinished. Furthermore, upon evaluation, the existing code was found to be unworkable.

The Challenges

The primary challenge was to replace the inefficient manual phone-based insurance quoting system with a more modern, efficient, and scalable solution. Additionally, there was the daunting task of starting from scratch due to the previous API’s unworkable condition. A new API was needed, which could process a high volume of real-time price quotes per day.

The Solution

Mad Panda constructed a new API from scratch, built entirely on Amazon Web Services (AWS). It incorporated powerful DevOps, making the development process faster, more manageable, and more robust. To speed up quotation times and deliver instant quotes, we deployed a cloud-based NoSQL database. This decision enhanced the database speed and provided a fail-safe mechanism since data was distributed rather than being stored in a single location.

  1. New API creation: Developed a scalable API from scratch, replacing an outdated manual insurance quoting system.
  2. AWS and DevOps utilisation: Leveraged AWS and DevOps tools for a faster, more robust development process.
  3. Cloud-based NoSQL database deployment: Deployed a fast, fail-safe NoSQL database for instant quotations and data distribution.
  4. Enhanced quotation capacity & data safety: The new API processed 30,000 real-time quotes daily, significantly improving performance and data safety.

The Results

The newly developed API was hugely successful and enabled Covéa to process 30,000 real-time price quotes per day which was a significant improvement over the previous manual phone-based system. The cloud-based NoSQL database allowed for speed and robustness, and importantly ensured data safety. So if one data centre faced issues, the API could still access data from other centres around the world.

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