Microservices architecture for Insurtech

Our client is a leading aggregator in the insurance industry from Dallas US. The Client has a legacy product used in production by multiple insurance carriers and MGAs to manage insurance programs running across the country. The product is essentially a tool for underwriters to review insurance applications, underwrite quotes and issue policies.

Business Challenge

The current architecture of the system is monolithic in nature and has led to several business challenges like the tight coupling of business logic which makes it difficult for new insurance clients to be added to the same platform. The system is not very configurable with respect to different insurance programs having their own configurations and hence making them adhere to the business process offered by the system instead of using the system to implement their own business process. And these challenges make onboarding new customers very difficult and existing customers expect the current system to be more robust, resilient and extensible.

Project goals

Some of the vital success criteria for this project were:

• Decouple the existing business logic into a set of discrete microservices that are independent and scalable.
• Architect a new version of the product which is API driven and shall allow decoupling of frontend and backend APIs.
• Introduce system configurability in such a manner that each insurance program can have its own configurations, branding, logos, email templates and so on.
• Have a faster onboarding time for new customers so they can self-provision and configure as per their program requirements.
• Business resilience. The system should be able to recover from errors and must have retry mechanisms in place.
• Customer data shall be secure and must be encrypted on the storage devices.

Explore our project success criteria and how we ensure successful delivery of the project every time.

The Solution

The client engaged with us in a contract to provide a solution to the above-mentioned goals using our IT Staffing Services. The project began with a series of project discovery sessions that allowed us to understand their existing product and identify the business complexities involved and the technical challenges with it. Our solution architects spearheaded this activity and delivered the proposed system architecture document which was reviewed for all the architectural goals.

The result was a microservices architecture comprising 21 different business services. API gateway pattern was implemented to shield services from the outside world. The API gateway also handled identity management, authentication and authorization. An orchestration layer was created to route requests through various services for a given use case.

Service mesh ensured service-to-service interactions and a RabbitMQ message broker was used for implementing message queue and resilience.

The Impact

Our client was amazed by the impact that we brought to the product by building the right software architecture patterns. Designing software systems using the microservices pattern was a huge success resulting in extremely happy end users.

Are you also looking for dynamic Microservices architecture solutions to make your software product resilient, scalable and fault-tolerant? Let our expert team help you with the best solution. Contact us today to take your business to the next level.