- Complex calculations for generating annuity illustrations.
- Multiple navigations – slow processing due to difficulty in entering and retaining data in multiple pages.
- Disparate systems for configuration and illustration.
The objective was to provide a cloud-based web application for annuity illustration and integrate it with the admin application present on the customer’s application server. The modern UI would allow the producers/agents to login from anywhere, fill in the mandatory fields in the annuity form, generate an illustration document, and download it in PDF format.
How our solution helped
With application modernization, our client achieved an 80% reduction in overall application cycle time.
We built an MVC application to calculate the annuity illustration, based on the single service architecture. In this context, single service means that the same service can be used to point to multiple applications if required, which makes the application design future-proof. In this approach:
- Users need to enter/select mandatory information like premium amount, annuity plan, term, etc through a single screen.
- The input data is sent to the admin server via API to calculate the annuity.
- The generated result can be previewed on the screen and exported as PDF.
- Users can also preview illustrations for multiple plans on the same screen for comparison purposes.
Overview of the application architecture is given below:
- Improved efficiency in application cycle time
- Enhanced user experience
- More accurate input and reduced errors
- Easy comparison of illustrations for multiple plans