Case Study

Innovative Premium Calculator for Enhanced Customer Experience

Company Overview

Streamlined Policy Premium Management with Tridhya Tech's Expertise

Our client for this project is a primary financial services provider in India. Their service offerings include insurance policies, retirement plans, wealth management, educational planning, health insurance, and more. They relied solely on Excel sheets to calculate customer plans, policy premiums and maintain records.

As the company’s customer base grew, managing customer records and serving their needs with Excel sheets became increasingly difficult. They wanted to develop a system where customers could use their mobiles to calculate their premiums and share the data. Tridhya Tech steps in and creates an innovative platform for this client.

Business Challenges

  • Excessive Dependency on Excel Sheets

    The client relied exclusively on Excel sheets for premium calculations and maintaining customer records. Such a manual process was time-consuming and error-prone. Hence, it wanted a solution to automate these tasks to boost productivity and accuracy while saving time.

  • Limited User Flexibility

    Excel sheets didn’t allow the client to explore different options and make little tweaks for premium calculations. The client needed a solution that facilitated experimentation with other variables and scenarios before arriving at the final figure.

  • Security Concern

    Sharing data on spreadsheets raised security concerns. The client needed a secure solution to protect customer data and the calculations performed.

Business Solution

Robust Algorithm

Users no longer need to perform manual calculations. The robust algorithm facilitates automated calculations, increasing accuracy, efficiency, and productivity.

Greater Flexibility

We developed an improved algorithm for calculation methods that provides greater flexibility to handle various user cases.

AES-Enabled Security

Implementing R8 rules and data encryption/decryption using the AES algorithm prevents unauthorized data access and protects confidential information.

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Conclusion

The client wanted a powerful app that works seamlessly on mobile devices. Simultaneously, they wanted to end their dependence on Excel sheets. We created a mobile platform for the client’s users using the agile methodology and technologies like Kotlin and Swift. It took us six to seven months to complete the project, but the result was worth it.

After implementation, the client experienced enhanced user experience, greater efficiency, and increased accessibility.

Applied Technologies

Kotlin

Swift

Transform Your Business With Digital Enterprise Solutions

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