Company

Country

Greece

Industry

Health insurance

System

Insurance management

Executive summary: A landmark transformation in insurance analytics

01

Client

Munich Re HealthTech (MRHT), the innovative health-focused division of Munich Re, a global leader in reinsurance and risk solutions.

02

The pressing challenge

MRHT's powerful SMAART analytical tool, vital for pricing strategy and risk management, was constrained by an outdated Oracle OBIEE legacy system. This resulted in limited scalability and prohibitive licensing fees, which were significant barriers to MRHT’s strategic goal of offering SMAART as a scalable Software-as-a-Service (SaaS) product. The lack of modern application capabilities (limited automation or end-user editing features) and outdated UI were also problematic.

03

Pretius's solution

Pretius architected and executed a rapid and comprehensive modernization strategy. This involved migrating the entire SMAART system to the Oracle APEX low-code platform, developing a new, user-centric front-end in collaboration with MRHT designers, automating previously manual analytical processes, and enriching the application with new, value-added features.

Quantifiable impact & key achievements

A fully modernized, robust SaaS application was delivered in the remarkable timeframe of less than 4 months (equivalent to 400 man-days).
The platform has demonstrated exceptional stability and has become cheaper to maintain. There were only 64 incidents in 4 years after launch, and none of them were severe. Moreover, MRHT’s team was trained in Oracle APEX, which limits the need for outside help.

A reduction in application licensing costs was achieved. OBIEE licensing costs go into thousands of dollars per month, while Oracle APEX comes packaged with MRHT’s Oracle Database license.
Critical end-user processes saw a dramatic efficiency gain, with tasks that formerly took days now being completed in mere minutes. For example, creating reserves and data mapping, which used to take up to 15 days using Excel, now takes approximately 20 minutes.

Introducing the Client

Munich Re HealthTech – A force for innovation in health insurance

Munich Re HealthTech (MRHT) operates as a specialized division within Munich Re, a globally recognized titan in the reinsurance, primary insurance, and risk solutions landscape that operates in 19 countries all around the world. Since its inception in 1995, MRHT has been dedicated to pioneering advanced digital solutions tailored for the dynamic health insurance sector. At the heart of their offering is the SMAART system – a sophisticated analytical tool meticulously designed to empower insurance companies across the globe in shaping their comprehensive pricing strategies and refining their risk management approaches. MRHT had plans to scale up their business further and change the business model under which SMAART was sold to their clients to SaaS (Software as a Service).

The critical crossroads: confronting the limitations of legacy technology

While powerful, the SMAART tool faced critical roadblocks that hampered MRHT's ambition. The specific challenges were multifaceted and pressing:

The burden of an outdated system: The legacy OBIEE framework lacked the flexibility and modern capabilities essential for a cutting-edge analytical tool. This included limitations in end-user editing functionalities, limited automation possibilities (some tasks still had to be done manually in Excel spreadsheets), and the absence of a truly complete, modern application suite that users increasingly expect.
Escalating licensing costs: The OBIEE technology stack, along with associated technologies such as BI Publisher and Web Logic, carried substantial and recurring licensing fees. These costs not only impacted MRHT's operational expenditures but also had implications for the pricing and accessibility of the SMAART tool for their end clients.

Impediments to a SaaS future: MRHT had a clear strategic vision to offer SMAART as a Software-as-a-Service solution. This model would enhance scalability, accessibility, and market reach. However, the existing legacy architecture and its associated cost structure were fundamentally incompatible with the agility and efficiency demands of a competitive SaaS offering.
Prevalence of manual inefficiencies: Key analytical and data handling processes within the SMAART workflow were still being performed manually, often relying on external tools like Microsoft Excel. This not only introduced potential for errors but also consumed significant expert time, slowing down critical decision-making cycles. For example, the process of creating reserves and data mapping used to take up to 15 days, and the tasks of clustering policies and steering portfolios took 2-3 days.

To secure the future of SMAART and unlock its full potential, Munich Re HealthTech recognized the urgent need for a comprehensive modernization initiative – one that would address these technological and financial constraints head-on.

Technologies That Powered the Transformation

Oracle APEX

Oracle DB

The Path to Modernization

Pretius delivers a Tailored, high-impact solution with Oracle APEX

In August 2018, after an extensive evaluation of Pretius's deep expertise with the Oracle APEX low-code framework and their proven track record of successful, complex software projects completed for enterprises (which isn’t common), Munich Re HealthTech selected Pretius to spearhead the revitalization of the SMAART system. Pretius distinguished itself by proposing not just a technological shift, but a strategic transformation executed with precision and speed.

Strategic migration – the low-code advantage:

The core strategy revolved around migrating the existing OBIEE system to the latest version of Oracle APEX. MRHT already had an Oracle DB license, so it was an obvious choice. Moreover, APEX’s low-code nature promised an accelerated development lifecycle without compromising on power or scalability, and the company wanted to avoid the extensive time and resources typically associated with rebuilding a complex application from the ground up.

Collaborative frontend reinvention:

Understanding that user experience is paramount, Pretius worked in close collaboration with Munich Re HealthTech's own design teams. This synergistic partnership resulted in a completely new, intuitive, and modern front-end for SMAART. Pretius leveraged its expertise by creating custom APEX plugins to deliver a tailored and highly responsive user interface.

Intelligent automation and feature enrichment:

The project went far beyond a simple "lift-and-shift." Pretius meticulously analyzed existing workflows and integrated new features directly into SMAART, automating many processes (creating reserves, data mapping, clustering policies, etc.) that were previously manual and time-consuming. This directly translated into enhanced productivity for SMAART users. For example, the process of creating reserves and data mapping was reduced to a mere 20 minutes (from 15 days using Excel). Similarly, the tasks of clustering policies and steering portfolios can now be done in 5 minutes instead of 2-3 days.

Addressing global data needs:

Recognizing the international scope of MRHT's clientele, the modernized SMAART system was engineered to support Oracle's sharding technology. This sophisticated feature allows MRHT to effectively manage data residency requirements by controlling the physical location of specific client data – a critical compliance aspect achieved efficiently through APEX capabilities without extensive custom coding.

Empowering the client team:

Pretius believes in fostering long-term client independence. We’ve used our unique co-creation approach for this project, which allowed MRHT’s team to learn everything they needed to know about Oracle APEX while we shaped the system together., ensuring the company was well-equipped to manage, maintain, and further evolve their powerful new solution.

Through this multi-faceted approach, combining astute technological choices with a deeply collaborative process, Pretius successfully transformed SMAART from a constrained legacy system into a dynamic, efficient, and future-proof SaaS application.

The transformation realized: measurable success and lasting benefits

The modernization of the SMAART tool by Pretius yielded a cascade of strategically vital results for Munich Re HealthTech, validating their decision to invest in this transformation:

01

Unprecedented speed-to-market:

In a clear demonstration of Pretius's agile execution and the efficiencies of the Oracle APEX platform, the entirely new, SaaS-ready version of SMAART was developed and launched in less than four months. This rapid deployment, equivalent to just 400 man-days of effort, allowed MRHT to quickly capitalize on their modernized offering.

02

Dramatic reduction in operational costs:

A primary driver for the project, application licensing costs associated with the previous OBIEE stack were eliminated without introducing any significant new recurring costs due to APEX’s licensing model (being a part of an existing Oracle Database license).
Beyond licensing, the overall maintenance of the new APEX-based SMAART system proved to be significantly cheaper. There were only 64 incidents in 4 years after launch, and none of them were severe – easy to take care of, especially considering the in-house Oracle APEX expertise.

03

Revolutionized process efficiency:

The impact on end-user productivity was profound. Complex analytical processes and reporting tasks that had previously taken several days to complete can now be accomplished in mere minutes within the new SMAART system. This unlocked considerable time for actuaries and risk managers to focus on higher-value analysis rather than data wrangling.

04

Exceptional system reliability and stability:

Since its deployment in 2019, the modernized SMAART application has operated with zero critical bugs. This high level of reliability is crucial for a system that underpins critical financial and risk management decisions, showcasing the quality of Pretius's development and testing.

05

Enhanced user and client satisfaction:

The Pretius blog highlights positive market reception, noting that Munich Re HealthTech's clients "love SMAART – many of them complement the system and can't imagine their day-to-day operations without it." This indicates that the new user interface and enhanced functionalities resonated strongly with the end-user base.

06

A secure, scalable platform for future growth:

The modernized SMAART is not just a replacement but a strategic asset. It is inherently secure, designed for scalability to accommodate growing data volumes and user numbers, and built for compatibility with the diverse technological environments of MRHT's clients. This provides a foundation for Munich Re HealthTech's future roadmap for SMAART, which includes plans for incorporating machine learning capabilities and advanced interactive data visualizations – possible thanks to Oracle APEX’s cloud-ready and AI-enabled nature.

The Voice of the Client: Affirming a Successful Partnership

The success of the project and the quality of the solution delivered by Pretius are echoed in the feedback from Munich Re HealthTech's leadership:

Bilal Ramadan

Chief Executive Officer at Munich Re HealthTech

The solution is secure, scalable, and compatible with most technologies used by Munich Re HealthTech’s clients. It’s also much cheaper to maintain which was an important success criteria factor. Application licensing costs were largely reduced.

Concluding insights: a blueprint for successful legacy modernization

The collaboration between Pretius and Munich Re HealthTech on the SMAART modernization project serves as a compelling example of how strategic technological choices and expert execution can unlock immense value from existing software assets. Key takeaways from this success story include:

The strategic power of low-code:

Oracle APEX, as a low-code platform, proved to be a game-changer, enabling rapid development, iteration, and deployment without sacrificing the robustness required for an enterprise-grade financial analytics tool.

Targeted migration over full rebuilds:

When appropriate, migrating and modernizing a legacy system, as Pretius did with SMAART, can offer a significantly faster and more cost-effective path to achieving business objectives compared to initiating a complete rewrite from scratch.

Collaboration as a cornerstone:

The close working relationship between Pretius’s technical team and Munich Re HealthTech’s business and design experts was instrumental in ensuring the final solution was not only technologically sound but also perfectly aligned with user needs and business goals.

Beyond technology – delivering tangible business value:

The project's success was ultimately measured not just in lines of code or migrated modules, but in concrete business outcomes: drastically reduced costs, vastly improved operational efficiency, and a modernized platform ready to support future growth and innovation. It also allowed MRHT to sell its powerful SMAART product as a service, which was one of the key goals for the project (alongside cutting licensing costs).

4 Months to Modern SaaS, Slashing Costs & Accelerating Critical Analytics from Days to Minutes with Pretius