Software AG Case Studies AXA Cooperative Insurance's API-led Transformation with webMethods

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	AXA Cooperative Insurance's API-led Transformation with webMethods Software AG

AXA Cooperative Insurance's API-led Transformation with webMethods

Software AG

Technology Category	Application Infrastructure & Middleware - Data Exchange & Integration Application Infrastructure & Middleware - Middleware, SDKs & Libraries
Applicable Industries	Finance & Insurance Glass
Applicable Functions	Maintenance
Use Cases	Inventory Management Usage-Based Insurance
Services	System Integration
Challenge	AXA Cooperative Insurance, a subsidiary of AXA Group and one of the largest insurance providers in Saudi Arabia, faced several challenges. The company was dealing with an ambitious back-end transformation, growing demands from regulators, an increasingly competitive insurance marketplace, and a legacy integration system in need of modernization. The company's success was increasingly tied to its ability to harness data to instantly generate quotes for new customers and keep on top of ever-stringent regulations. However, its IT systems were not up to the task. The complex and ever-growing application landscape was barely held together by a web of rigid point-to-point connections. Legacy applications frequently went down due to lack of maintenance, and new ones lacked the ability to share data with industry partners in a secure, efficient manner. Furthermore, AXA’s data wasn’t even stored inside the country, instead, it was scattered across servers in Dubai, Spain, and France. Read More
About Customer	AXA Cooperative Insurance is one of the largest insurance providers in Saudi Arabia, offering policies covering health, life, homes, cars, accidents, and travel. The company, headquartered in Riyadh, has 370 employees across 16 branches and generated a revenue of $377 million in 2020. AXA Cooperative Insurance is a subsidiary of AXA Group, a French insurance conglomerate with a presence in 65 countries on six continents. Since its launch in 2008, the company has experienced rapid growth, thanks to its cost-competitive policies and unmatched customer service. Read More
Solution	In response to these challenges, AXA Cooperative began planning for a full back-end transformation, which would migrate its data servers to the Kingdom and enable it to assume greater IT autonomy from its AXA Group parent. The company decided to implement a modern, API-led integration platform to ensure the fluid flow of data to regulators, brokers, and customers, and position the company for continued growth into the future. After surveying the competition, they chose webMethods from Software AG. The choice of webMethods was based on the platform’s unmatched capabilities, and Software AG’s track record of excellence. The platform's easy scalability, mapping capabilities, and the speed of the platform’s Universal Messaging were particularly appealing. Most critical of all, webMethods API Gateway, the industry-leading API management solution, meant creating APIs, and exposing them to external partners, would be remarkably fast, secure, and simple. Read More Log in to view content
Contents

Technology Category

Application Infrastructure & Middleware - Data Exchange & Integration

Application Infrastructure & Middleware - Middleware, SDKs & Libraries

Applicable Industries

Finance & Insurance

Glass

Applicable Functions

Maintenance

Use Cases

Inventory Management

Usage-Based Insurance

Services

System Integration

Challenge

AXA Cooperative Insurance, a subsidiary of AXA Group and one of the largest insurance providers in Saudi Arabia, faced several challenges. The company was dealing with an ambitious back-end transformation, growing demands from regulators, an increasingly competitive insurance marketplace, and a legacy integration system in need of modernization. The company's success was increasingly tied to its ability to harness data to instantly generate quotes for new customers and keep on top of ever-stringent regulations. However, its IT systems were not up to the task. The complex and ever-growing application landscape was barely held together by a web of rigid point-to-point connections. Legacy applications frequently went down due to lack of maintenance, and new ones lacked the ability to share data with industry partners in a secure, efficient manner. Furthermore, AXA’s data wasn’t even stored inside the country, instead, it was scattered across servers in Dubai, Spain, and France.

About Customer

AXA Cooperative Insurance is one of the largest insurance providers in Saudi Arabia, offering policies covering health, life, homes, cars, accidents, and travel. The company, headquartered in Riyadh, has 370 employees across 16 branches and generated a revenue of $377 million in 2020. AXA Cooperative Insurance is a subsidiary of AXA Group, a French insurance conglomerate with a presence in 65 countries on six continents. Since its launch in 2008, the company has experienced rapid growth, thanks to its cost-competitive policies and unmatched customer service.

Solution

In response to these challenges, AXA Cooperative began planning for a full back-end transformation, which would migrate its data servers to the Kingdom and enable it to assume greater IT autonomy from its AXA Group parent. The company decided to implement a modern, API-led integration platform to ensure the fluid flow of data to regulators, brokers, and customers, and position the company for continued growth into the future. After surveying the competition, they chose webMethods from Software AG. The choice of webMethods was based on the platform’s unmatched capabilities, and Software AG’s track record of excellence. The platform's easy scalability, mapping capabilities, and the speed of the platform’s Universal Messaging were particularly appealing. Most critical of all, webMethods API Gateway, the industry-leading API management solution, meant creating APIs, and exposing them to external partners, would be remarkably fast, secure, and simple.

Impact #1	The implementation of webMethods delivered on its integration promise and more. The shift to API-led integration increased AXA’s visibility in searches by industry partners and aggregators, bringing in new customers, improving customer engagement, and driving new business. IT staff also saw major benefits. Freed from onerous manual information sharing, they had more time to focus on improving AXA’s back-end and customer-facing processes. With the first stage of its back-end transformation now complete, AXA’s IT team is now focusing on improving the customer experience. Plans are in the works to utilize webMethods for a unified customer repository, which will centralize customer data and ensure customer information is accurate, updated, and easily accessible.

Impact #1

The implementation of webMethods delivered on its integration promise and more. The shift to API-led integration increased AXA’s visibility in searches by industry partners and aggregators, bringing in new customers, improving customer engagement, and driving new business. IT staff also saw major benefits. Freed from onerous manual information sharing, they had more time to focus on improving AXA’s back-end and customer-facing processes. With the first stage of its back-end transformation now complete, AXA’s IT team is now focusing on improving the customer experience. Plans are in the works to utilize webMethods for a unified customer repository, which will centralize customer data and ensure customer information is accurate, updated, and easily accessible.

Benefit #1	Enabled regulatory compliance, avoiding fines for noncompliance
Benefit #2	Improved visibility with brokers and customers, bringing in new customers
Benefit #3	Drove new business, increasing revenue

Benefit #1

Enabled regulatory compliance, avoiding fines for noncompliance

Benefit #2

Improved visibility with brokers and customers, bringing in new customers

Benefit #3

Drove new business, increasing revenue

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Overview

AXA Cooperative Insurance's API-led Transformation with webMethods

Operational Impact

Quantitative Benefit