Case study: Insurance management system for Munich Re by Pretius

New SaaS application delivered in just 4 months thanks to low code

Company

Industry

Health insurance

Country

Greece

System

Insurance management

Challenge: Legacy system and high licensing costs

Munich Re HealthTech is a division of Munich Re, one of the world’s leading providers of reinsurance, primary insurance, and insurance-related risk solutions. Munich Re HealthTech has been operating since 1995 and offers advanced digital solutions for the health insurance business. One of them is SMAART – a powerful analytical tool that helps insurance companies shape their entire pricing strategy and risk management approach. Unfortunately, the system was originally developed using Oracle Business Intelligence Enterprise Edition. It lacked editing end-user capabilities as well as the provision of a fully-fledged, complete, modern, and tailored-made application suite. Additionally, OBIEE and other technologies (BI Publisher, Web Logic) came with significant licensing costs for the clients of Munich Re HealthTech. Wanting to scale up their business, Munich Re decided to modernize the system, at the same time changing the business model to SaaS.

Methodology

Waterfall

Delivery time

4 months

Team

1 project managers, 2 business analysts, 3 software developers, 1 UX designer, 1 QA specialist

Effect: New SaaS application ready in 4 months

The greatest success of this project was delivering the new version of SMAART in record time – less than 4 months (exactly 400 man-days). At the same time, the new product is very reliable – Munich Re HealthTech has observed zero critical bugs since its launch in 2019. All of this was possible because of the well-chosen technology. Low-code application development leverages ready-made modules, graphical user interfaces, functions, processes, etc. The new version of SMAART also allows Munich Re HealthTech and its clients to save an enormous amount of time (and, thus, money). End-user processes that used to take days can now be 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. End-users are very satisfied with the new SaaS product, Munich Re HealthTech has an ambitious roadmap for SMAART, and the collaboration with Pretius continues.