DirectAsia Case Study
DirectAsia.com is a new and innovative direct insurer, providing fast and easy access to insurance needs online. Operating currently in Singapore with plans to expand into other Asian countries, DirectAsia provides car, travel, home and personal accident insurance through their online portal www.DirectAsia.com and on the phone. The company offers a one-stop platform for obtaining quotations, purchasing policies, and managing the account, all the way to claims. Provided 24-7 access, customers are able to obtain instant cover and purchase their insurance anytime they need to.
Targeting a rapid implementation of its business initiative, DirectAsia.com was looking for a packaged- based solution that embedded field tested best practices in direct insurance. The entire implementation phase of the system was relatively short ― it took 7 months from project kick-off to user acceptance testing, into a soft-launch period, then followed by a full-blown launch. The system implements full straight through processing across the whole underwriting process. This allows end users to issue policies without manual intervention of DirectAsia.com personnel.
The Country Layer of IDIT™ Software Suite was aligned to comply with the insurance regulations and legislations in Singapore, and to serve as a base for other geographies in the region. We at DirectAsia.com have benefitted IDIT's accumulated experience in the direct insurance business processes, from across Europe and other regions.
DirectAsia.com is using IDIT™ Software Suite as its central system for managing the core business. Call center users are using the IDIT™ software, and the portal is using IDIT™ SOAP interface. The system is running on HP UX servers, with Oracle Web Logic application, Microsoft Windows server and Microsoft SQL server.
Going into the Future
Based on results to date, there are clear plans to move ahead with the same concept into other territories in the region, leveraging the initial investment to further maximize the TCO. The IDIT™ system will support the implementation of innovative insurance products to be offered on-line, for improved competitive edge.
Read more about Sapiens IDIT General Insurance Software Solution.