For medium-to-large businesses, developing new applications can come with a swathe of new challenges. One key issue revolves around creating workflows for dozens of business applications – and the difficulties that can involve for firms without serious coding expertise. When a leading US insurance business faced this issue, Symfa stepped in to build a micro low-code platform to help insurance business users change business logic fast and easily.
The innovative solution leverages Microsoft’s Rules Engine to streamline the workflow for a large insurance company in the US, allowing business users to create and modify workflows for numerous applications without any coding expertise.
The traditional challenge faced by the insurance company involved a lengthy process whenever a user-facing application, such as insurance quoting software, needed changes.
Typically, this required creating a Work Request, defining Acceptance Criteria in a User Story, and planning a Sprint. This request would then go through the full Software Development Life Cycle (SDLC), involving development, testing across different environments, and finally, release to production.
This process often resulted in a significant development cost and a wait time of 1-2 months.
Symfa’s solution, the Rules Engine, allows business users to make these changes themselves.
Once a rule is updated, it is automatically disseminated to all related teams and products, cutting the entire process down from two months to just five minutes.
Despite the benefits of the Rules Engine, some bureaucratic steps remain unavoidable. Business users still need to write acceptance criteria, create tickets, plan sprints, and test changes.
Nonetheless, the key advantage is the speed and efficiency with which business rules can now be created, reused, and implemented, resulting in significantly lower development costs.
Before implementing the Rules Engine, business logic was hardcoded directly into applications, often leading to duplicated and inconsistent logic.
Now, the business logic is managed in a separate, centralised system, allowing changes without modifying the code. This abstraction means that adjustments in business logic no longer necessitate changes to the underlying systems.
The immediate benefits of the Rules Engine for the insurance company include centralised business logic that can be reused across multiple applications, clear visualisation of logical chains, and the ability for non-developers to modify business logic.
Business analysts or specifically trained business users will be able to handle these changes, streamlining operations and reducing dependency on development teams.
The concept of Workflow underpins the application, where a collection of business rules connects to create a logical sequence. For instance, if an agent enters an insurance payout limit that exceeds the policy cap, the Rules Engine automatically flags it, preventing the form from being processed further.
This automated approval or rejection mechanism applies across various applications, enhancing consistency and efficiency.
The platform allows users to configure Workflows through a user interface and integrate them into their applications.
Each rule’s execution results in either success or failure, aggregating these results to determine the final outcome, such as quote approval or rejection.
Business users will soon be able to edit Workflows themselves. Initially, developers are primarily responsible for integrating with the Rules Engine. However, a group within the client’s company is undergoing training to take on these tasks, with plans to expand the circle of users once the platform is proven secure.
The new platform enables insurance software teams to develop their own Workflows, such as creating new rules for discount calculations based on factors like customer loyalty.
The ease of creating and integrating new workflows through the platform’s graphical UI simplifies and accelerates the process.
Symfa’s Rules Engine project exemplifies how InsurTech solutions can significantly enhance efficiency, reduce costs, and empower business users to take control of critical processes.
The platform’s centralised logic management and user-friendly interface make it a valuable tool for the insurance industry.
Read the full blog from Symfa here.
Keep up with all the latest FinTech news here.
Copyright © 2024 FinTech Global
