Thought Leadership in Action

Overcoming Roadblocks to Efficiency

A rapidly growing, midsized annuity carrier needed a completely electronic workflow to allow its annuities to be sold through a new sales channel, in support of its business strategy. This channel demanded straight-through processing of Attachments document messaging with the Depository Trust & Clearing Corporation. The insurer’s IT department had numerous priori- ties with limited staff and needed to provide a solution quickly while overcoming a complex network infrastructure. As a result, the initiative was nearly a year behind schedule.

Expertise to Provide Fully Managed, Plug-And-Play Solution

Ebix Consulting delivered a robust, fully working DTCC Attachments solution delivered from Microsoft Azure. The integration was built, secured, and managed by Ebix Consulting as part of the carrier’s cloud transformation. The project team’s deep expertise with Microsoft Azure tools and options, allowed them to craft a small set of solution options that balanced the cost/ performance/timeline relationship. Ebix Consulting clearly laid out the technical and strategic pros and cons of each option, the carrier’s executive team could make a well-informed choice, with the confidence that their choice would support the company’s immediate and future business goals. The carrier’s technology team was comforted by the fact that a highly experienced team from Ebix Consulting would guide them through the project and provide the expertise and resources necessary to achieve success. Ultimately, when presented with several options ranging from the most affordable to the fastest, the insurer chose the shortest time-to-market option -- a plug-and- play solution for DTCC Attachments.

Real Partnership to Drive Lasting Value

The carrier’s partnership approach when working with Ebix Consulting meant that the business objective and the impediments and constraints that needed to be considered were well understood. The partnership cut reduced the project delivery timeframe from potentially years to a couple of months, by collaboratively and creatively finding ways to overcome obstacles. The carrier now has a scalable, on-demand infrastructure with high up time using Azure under ex- pert supervision. The partnership brings secured application and infrastructure management services with a single point of contact for end-to-end application and infrastructure delivery. Using the DTCC message platform, the carrier cuts down on paperwork and allows for a better digital experience for its brokers and other stakeholders, allowing it to compete effectively with other carriers who transact within the lucrative, independent broker-dealer and bank, distribution channel. Ultimately, Ebix Consulting’s DTCC Integration enabled this midsized insurer to sell more products through larger distributors.

Better, Faster Outcomes

After struggling for nearly a year, the carrier restarted the project by engaging Ebix Consulting and was live with straight-through processing and electronic exchange of documents with its distributors in the new business channels within three months.

Ebix Consulting accelerated the delivery of a working business solution from design, development, testing, and support. By leveraging a proprietary DTCC integration, Ebix Consulting rapidly delivered an industry-proven solution that included practical customizations the carrier required