Insurance Service-Oriented Architecture

Technology is an integrated element of every insurance organization’s future growth strategy. However, over the years, they are straddled with a large inventory of legacy systems and the evolving IT strategy has to address the following challenges:

• Limited scalability of architecture
• Limited web enablement capabilities
• Increased processing cost per policy
• Rigidity in managing business processes
• Increased time-to-market for new and existing products

Having executed Service-Orinted Architecture (SOA) in the insurance industry, Zensar understands the mission critical importance of SOA based architecture that makes the IT landscape more flexible and agile. Zensar is building the following integration frameworks and reusable components that will accelerate the SOA transformation of Zensar clients using:

• Reusable technology components
• Enterprise Integration Framework
• Business process models for insurance domains
• Service components for insurance domains

Methodology

Zensar has worked with various insurers to execute SOA projects wherein the reference architecture lays the foundation to build up the SOA strategies and implementation. The below diagram illustrates the SOA reference architecture of financial service customer

Value Proposition

• Increased Straight Through Processing (STP) rate
• Web enablement of product/software applications
• Integration of heterogeneous applications resulting in reduction of duplicate functionalities.