Client: A Leading Insurance Company
Industry: Insurance
Challenges
The development of the Order Generation System (OGS) posed intricate challenges stemming from the need for compliance-oriented, flexible, and robust functionality within the insurance domain.
The client's aspirations to emerge as a market leader necessitated the replacement of legacy manual processes with an agile, technologically advanced system capable of adapting to evolving compliance standards. Balancing the complexities of compliance adherence, accurate order generation, and seamless integration with existing workflows posed significant hurdles.
Moreover, accommodating diverse asset types and maintaining scalability to support future business growth presented additional challenges during the project's execution.
Solution
Paramatrix devised a web-based solution leveraging Microsoft technologies and the Paramatrix Application Core Engine (PACE) middleware to address the challenges inherent in developing the OGS.
The solution encompassed user-friendly interfaces, model portfolio management, order generation, and allocation processes, catering to diverse asset types and security lending and borrowing services. By leveraging PACE's robust architecture, the OGS facilitated real-time monitoring of compliance policies, ensuring regulatory adherence across all order generation processes.
Additionally, the system's automation capabilities minimized manual intervention, enhancing operational efficiency and accuracy in order processing.
IMPACTS
Strengthened compliance through rule-based limit monitoring
Streamlined order generation process and increased efficiency
Enhanced business agility and competitiveness
Improved user experience with intuitive interfaces