Insurance
Modernized platform enhances loan processing and UI-UX
Platform modernization with system integration, functional enhancements, and UI transformation, helps streamline processes, minimize duplication, deliver strong ROI and grow customer retention by a projected 50%.
Client
A large NY-based life insurance and investment company
Goal
Modernize product data management services to enhance loan processing and improve user experience
Tools and Technologies
Angular 15, .Net 4.8, .NET 8.0, AWS EC2, SQL Server, PostgreSQL, Stonebranch, SharePoint, IIS
Business Challenge
The client operated a critical legacy application for loan processing, which had significant operational inefficiencies and shortcomings in user experience. It hindered the speed and accuracy of loan disbursements, affecting both internal operations and customer satisfaction.
The goal was to modernize the platform with scalable solutions that could enable secure distribution of critical data and better governance, while integrating smoothly with downstream applications.
Solution
- Implemented a holistic modernization approach with a focus on system integration, functional enhancements, and UI transformation
- Streamlined deal creation and approval through a third-party system with robust verification and compliance features
- Enabled multi-loan support under a single deal
- Ensured consistency by introducing a standardized component library with reusable UI components
- Revamped the interface with intuitive design, responsive layouts, and improved user experience
Outcomes
- Enhanced efficiency, scalability, and user-centric loan operations
- Improved ROI through greater efficiency, better user experience, and agility
- Reduced verification effort by 30–55% and enabled focus on higher-value tasks
- Streamlined processes and minimized data duplication
- Ensured consistent design and efficient development
- Increased customer satisfaction, with a projected 50% rise in retention
