Key facts
TYPE
Dedicated Teams
PRODUCT
Custom web
INDUSTRY
Reinsurance
TIME
2016 - Ongoing
Summary
The company pursues to be at the forefront of the reinsurance industry. We provide the right team, the needed skills, and the timely advice, necessary for business growth in the modern age.
01.The Client
The client is a globally diversified underwriter of property and casualty reinsurance, offering a wide range of property and casualty reinsurance products on a treaty and facultative basis throughout the world.
Its operations include a global network of 14 branches and representative offices across five regions: North America, Latin America, Europe, the Middle East & Africa, Asia-Pacific, and London.
They aspire to be a world-class reinsurer and specialty insurer, providing excellent security and high-quality service to their clients.
As one of the global leading Reinsurance companies, by the end of 2021, the total Gross Premiums Written amounted to US$2.8 billion.
Rate A by Standard & Poor's and A.M.Best
14 branches across 5 regions
US$2.8 billion in GWP
02.The Challenges
Reinsurance is a very specific field: They needed to find a staff augmentation partner who could deliver highly skilled talent with the ability to pick up the project quickly. Additionally, having previous expertise in the industry was a plus.
Although they were working with some of the world's biggest, well-known IT providers, they believed there was significant space for improvement, in terms of retention, cost, coding quality, and client experience. By 2016 they were trying to add another supplier who could add more value, within their vendor "universe".
They were starting to focus on a large web app initiative they called "Phoenix", which needed more resources to be staffed cost-effectively (staffing locally, would have been more timely, and expensive). In that context, the timing was good for exploring new options.
03.The Solution
For more than six years, we have been working closely with them on various initiatives and areas:
- Application Development.
- Data Analytics.
- ServiceNow / ERP, Infrastructure.
- Project Management.
Most of our staff was assigned to the Phoenix project. The Phoenix project is a continuous development effort as it is the core system for the company's operations.
It’s a web application that streamlines business tasks such as contract creation, claims management, and payments. This application replaces the previous system, which consisted of several separate applications.
Some modules, such as Underwriting, Claims, and Accounting, have already gone into production with no major issues, while others are still in development. Our team is also responsible for the data conversion process, migrating data from all legacy systems to Phoenix.
Our team works closely with the client to ensure that the project is completed on time and to the highest standards.
Our team has evolved in number and expertise, adapting to the client’s needs, and this is one of the main advantages of IT staffing.
HIGHLIGHTS
3 modulesCurrently in production: Underwriting, Claims, and Accounting, which are continuously maintained and improved.
14People currently working in the project: Front & Back end Developers, UX/UI Designers, DevOps, QA Manual & Automation, DBA, Tech Lead, ETL Reporter, ServiceNow Developer, Citrix Engineer.
TECHNOLOGIES
Phoenix
The Phoenix project is a web application that streamlines business tasks such as:
- Contract creation
- Claims management
- Payments
This application replaces their previous system, which consisted of several separate applications. As it is the core system for the company's operations, it demands a continuous development effort.
04.The Results
This partnership went above expectations, which resulted in various new recurring revenue streams/areas.
We started with 2 people assigned, peaking at almost 20 people in the team. Currently more than 10 people are working for this client.
The relationship has been excellent, building a partnership model in which the client considers our staff as its own.
As their VP of IT said to our team the day we were going live with the Accounting Module within the Phoenix Project: “It’s an amazing achievement that wouldn’t have been possible without everyone’s unique contributions (…). Everyone should be incredibly proud of this system and what we were able to accomplish together”
By partnering with us, the client:
Has improved retention, which impacts productivity, revenue, and other KPIs. Has integrated modern and experienced talent into its team in a timely and cost-effective manner. Has got world-class level code. Has enhanced the way of working through proactivity, honest and transparent communication, and operational best practices we have implemented. Has improved processes in many areas (Scrum implementation, BAs tasks, user stories, etc). Has incorporated high-performant teams, pushing their limits to foster continuous improvement.
For Switch, shared values are critical in our partnerships (the same as if we talk about our collaborators); we firmly believe that they are the basis for consolidating long-term value relationships.
This is one of client’s principles: Cultivating a diverse workforce, investing in their employees, and providing opportunities for growth within the organization to preserve their culture for the long term.
We fully embrace the same.
Our partnership is a testament to our commitment to excellence and the ability of our team to provide high-quality solutions.
We look forward to continuing working with them, adding features to the new core system, modernizing apps, and diving deeper into data analytics to be ahead of what’s going on.
In a nutshell, helping them with their objectives:
- Continuous profitable growth.
- Being at the forefront of the industry.
