Speeding Up Digital Trading with a Microservices-based Platform
Challenge:
A global insurer faced major challenges with its digital trading and product onboarding process:
- Existing systems required manual software code changes for each new product launch.
- This caused long onboarding cycles, high operational costs, and delays in time-to-market.
- The insurer needed a flexible, scalable, and configuration-driven platform that could onboard new insurance products quickly—without the need for coding effort.
Solution:
OKRUTI engineered a next-generation, microservices-based digital trading platform designed for speed, scalability, and flexibility:
Key initiatives included:
– Microservices Architecture: Designed and implemented a modular, elastic architecture to support dynamic product onboarding.
– Java & Spring Boot Foundation: Built on Java and Spring Boot to ensure high performance, portability, and modularity.
– Event-Driven Communication: Leveraged Apache Kafka for real-time, event-driven messaging between microservices — ensuring instant updates and seamless communication.
– Efficient Data Management: Used PostgreSQL for structured data management with fast query execution and secure access control.
– Config-Driven Onboarding (JSON): Introduced JSON-based configuration to onboard new insurance products without software code changes, drastically reducing dependency on developers.
This architecture offered a scalable and flexible solution with reduced dependency on developers for routine product updates.
Results achieved:
✔ 90% Faster Onboarding: Reduced onboarding time by 90%, enabling faster go-to-market for specialist insurance products.
✔ High Scalability & Flexibility: Easily accommodates multiple product types and market variations with minimal effort.
✔ Operational Efficiency: Automated workflows minimized manual intervention and improved productivity.
✔ Reduced Dependency on Developers: Configuration-driven updates eliminated coding delays and improved business agility.
By removing software code dependencies and transforming event-driven architecture, Okruti empowered the insurer to achieve faster product launches, greater adaptability, and superb digital trading capability.
Feedback from a customer:
“Our onboarding time for applications has been drastically reduced, with a remarkable improvement in operational flexibility — thanks to Okruti’s microservices approach.”