King Price is a privately held insurance company based in South Africa, offering short term insurance. It is best known for its monthly decreasing car insurance premium model.
We used our insurance domain expertise to help King Price with the development of a short-term insurance system. In partnership with Innosys (a member of the BBD Group), we conducted a thorough health check of the existing systems and technical environment. Using the findings of our assessment, we developed the technical architecture and design based on both software and insurance technical best practice, that would provide maximum system longevity. We developed and deployed the new system, Obelix, using the Agile methodology. Obelix includes modules essential to achieving seamless processing over the lifecycle of a policy. The quote and sales modules include scripting, user checkpoints for compliance and a detailed history. The system is integrated to rating and reference sources and underwriting rules are automated where relevant. We also went on to successfully migrate legacy data into Obelix.