Ageas in the UK has gone live on Amazon Web Services (AWS) for its broker Insurer Hosted Pricing (IHP), moving to insurtech CDL’s cloud-based Proteus hub in a new multi-year deal designed to enhance security, resilience and scalability as the insurer continues to target growth in its chosen markets.
The Proteus hub enables strategic, mass market product distribution and pricing control, with changes to products and pricing made in real time, enabling insurers to respond to market conditions and give broker partners faster access to competitive rates. Integrations with all Ageas software house partners have been completed as part of a phased migration programme giving full market distribution.
Adam Clarke, Chief Underwriting Officer at Ageas UK, said: “This move to Amazon Web Services for our Insurer Hosted Pricing is one of the ways we are supporting our desire to grow in our chosen market of personal lines sold through brokers.
“By using this technology to become smarter and faster in our pricing we will now be able to offer brokers, and their customers, immediate access to our latest rates.
CDL has also completed an integration with Ageas’s data lake and warehouse, delivering significant business intelligence and analytics capabilities, with visibility of all business transactions in one location.
CDL’s Chief Executive Officer, Nigel Phillips, added: “Data and analytics underpin every stage of product design, pricing and customer experience, and the move to our cloud-based solution creates significant opportunities in terms of speed of data, analytics and product delivery. We are delighted to be supporting Ageas to extend their capabilities in this space through the AWS-hosted platform.”
The Proteus IHP hub is hosted on the world’s largest and most advanced cloud provider, AWS, and CDL’s globally recognised cloud capabilities earned it the AWS Independent Software Vendor (ISV) Financial Services Competency status within the AWS Partner Network (APN) earlier this year.
Awarded for its Proteus IHP solution, AWS Financial Services Competency status signifies that an APN partner has demonstrated the highest level of specialism, technical expertise and proven customer success, through cloud-based solutions that help accelerate innovation for insurers, banks and other financial services providers.