The proprietary, comprehensive, Life Insurance Contract Sales System from MakoLab

MakoLab developed and deployed a system for insurance company PZU Lietuva. The system provides an automated and simplified sales process, reduces costs and expands the company’s client network.

Summary
Client
Industry
Finance & Insurance
Service
Solution delivery
Deliverables
Sales system
MakoLab developed and deployed a system for insurance company PZU Lietuva. The system provides an automated and simplified sales process, reduces costs and expands the company’s client network.

Details

The client

The client is UAB PZU Lietuva gyvybės draudimas. The main shareholder is Grupa Kapitałowa Powszechnego Zakładu Ubezpieczeń SA (PZU Group), which is one of Poland’s oldest and largest insurance groups, consisting of almost thirty entities at home and abroad.

The goal

Our brief was to:

  • create a system providing a secure, technologically advanced process for preparing and selling insurance policies;
  • design and build it for use by the full staff of agents, underwriters, actuaries, executives and sales managers.
The solution

We delivered PZU Life (LICOSS), a system consolidating all the available products into one, multivariant solution and giving the insurance agents additional sales tools.

PZU Life (LICOSS) supports the entire process, namely:

- data collection and customer identification;

- making calculations; 

- multi-stage; confirmation procedures

- producing the end product, a finalised policy.

The system was equipped with sales modules which make it possible to create, modify and manage policies. It offers a wide range of functionalities, including: 

- identifying the customer and the insured person;

- using dynamic questionnaires on a range of topics, with health among them, to carry out calculations for various insurance products; 

- generating full documentation;

- obtaining a doctor’s evaluation of a policy.

With the calculator we created and built in to PZU Life (LICOSS), a range of product parameters, such as the sum insured and payment forecasts, can be simulated.

In tandem with the main functions of the automated process, the system serves as a tool for providing the data sets essential to process monitoring and business analyses.

Development and challenges
The first version of LICOSS was created a decade ago. The current solution is the result of modifying and migrating the previous system on the basis of new stack technology. Simultaneously migrating the system and extending it with new modules and functionalities was a challenge we were able to tackle successfully.

During that process, we were also developing and maintaining the first version of LICOSS, which meant working in parallel on both systems in different technologies.

The technologies

Front-end VUE.js 2 + JavaScript 2

Back-end .Net Core 3.1 REST API JWT authentication

Database Oracle 19c

We are responsible for the integration of LICOSS with
the Asseco Life Asseco Business Management System and ONDATO.

Key results
  • The process of entering into a contract is reduced from 15 days to 125 minutes
  • LICOSS has enabled PZU Lietuva to generate from 1,000 to 2,000+ calculations every month