Solartis Introduces the First of Its Kind; an Insurance Microservices Catalog That Supports the Full Quote and Policy Life Cycle
Staff Writer | March 02, 2018
Solartis introduces a first of its kind for insurance technology initiatives, a catalog of microservices that support the full quote and policy life cycle.
Solartis Insure's catalog of microservices is a different approach to policy administration system architecture. Carriers are no longer constrained by their monolithic technology platforms, they can now replace costly components, extend, orchestrate, and collaborate with third party providers to create unique customer ecosystems to simplify the process of purchasing and managing insurance.
"Microservices is an important part of the new recipe for insurance product development. Our research confirms that material cost and time reductions are being realized through their use. These benefits will eventually be table stakes, but currently they are delivering early mover advantages to insurers pursuing microservices." Mike Fitzgerald, Senior Analyst, Celent.
Siby Nidhiry, Solartis co-founder and Chief Technology Officer said, "We repeatedly hear the frustrations carriers are experiencing with their existing platforms. They have a strong digital strategy, a need to quickly and inexpensively add greenfield products and extend into channel partner platforms but are constrained by their current system's architecture and performance. Our microservices remove these constraints, allows carriers to leverage their existing technology investment and provides them with the road-map, the tools, and the nimbleness to move forward."
Solartis Insure's discrete RESTful webservices are used today in carrier technology systems as well as in agency and consumer sites, and the same microservices are extended to channel partner technology platforms. Decoupling the user experience from the underlying policy administration services allows Solartis or the customer to rapidly and inexpensively configure new products (in under 75 days) and work in parallel on their unique branded user experience.
The Solartis Insure Microservice Catalog consists of 5 categories of APIs:
- Submission and Quote Life Cycle APIs
- Policy Life Cycle APIs
- Document Generation APIs
- Billing Life Cycle APIs
- Discrete Service APIs
For the full list and descriptions of each API visit the Solartis website: https://www.solartis.com/solartis-insure-microservices-catalog/.
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