Case Study 5: Speeding Up Digital Trading with a Microservices-based Platform
Challenge:
An insurer operating on a global scale developed a digital trading platform that would be capable of onboarding specialist insurance products approximately 10 times faster than the current methods. Existing methods require the manual software code changes, and thus cause delays, inefficiencies, and operational-costly solutions. The organization sought flexible, scalable solutions that enable the flow of onboarding without software modifications.
Solution:
OKRUTI developed a microservices-based elastic architecture to enable onboarding by config drive:
– Built on Java & Spring Boot which ensured portability, high performance, and modularity.
– Event-driven real-time communication between microservices was enabled using Kafka.
– The structured data was access-managed by PostgreSQL and ensured fast query execution.
– Configured onboarding using JSON which eliminated the part of requiring manual software code changes.
This architecture offered a scalable and flexible solution with reduced dependency on developers for routine product updates.
Results achieved:
✔ Onboarding time reduced by 90% – Speedy time to market for special products in insurance.
✔ Highly scalable and flexible – It can cater to multiple specialties with the least amount of effort.
✔ More operationally efficient – Automate trading workflows to minimize manual interventions and improve productivity.
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 apps has been drastically reduced with a resultant improvement in the operational flexibility- thanks to Okruti’s microservices approach.”