Galway-based software company Avaeon Solutions has been awarded with a key contract by the major US insurance group Safeway to automate policy life-cycle functions for its strategic entry into the homeowner insurance market.
Safeway selected Avaeon’s award-winning .NET-based application framework Topoix for its robust architecture, which dramatically reduces source code and application development time. This framework efficiency will result in major cost savings for Safeway and provide a highly scalable solution for the future.
The system offers Safeway’s 450 insurance professionals and 2,000 independent producers with an industry-leading system to service more than 250,000 policyholders.
The system manages all aspects of the policy life cycle, including automated underwriting, rating, policy issuance, policy change and myriad additional functions, including regulatory compliance, as well as electronic interfaces to over 30 external systems ranging from comparative raters, banks, fraud-detection systems and law enforcement.
The contract win extends a partnership that began with Safeway’s deployment of Avaeon’s Topoix for its automobile operations.
“Avaeon Solutions has provided us with a combined application that will have a much smaller code base than a traditional approach and thereby shortens the development time,” explained Donna Jonynas, Safeway’s chief information officer.
“Even with two relatively dissimilar insurance products of automobile and homeowner insurance, there is a significant amount of business rule reuse. Avaeon’s solution will produce significant savings beyond the initial deployment.”
Avaeon’s managing director Anthony Derham noted that in addition to providing a feature-rich application, Safeway needed a solution that is highly scalable and secure, and available 24×7, 365 days a year.
“Unless otherwise planned, the currently deployed Topoix applications for Safeway’s automobile insurance have been consistently available since first deployed more than two years ago.
“This uptime availability was a significant factor in Safeway’s decision to select Topoix as the platform-of-choice for this strategically important project. We are looking forward to assisting Safeway in moving into new markets and continuing to build our solutions to become market leaders,” Derham said.
By John Kennedy
Pictured: applications developed using Topoix have a feature-rich HTML interface