Innovating Insurance Tech: A Look at Charles Taylor's Internal Tech Development
As a senior product architect at Charles Taylor, a leading insurance tech consulting company, I have had the privilege of working on various capabilities, including policy administration broking, governance monitoring, product engine and InHub.
In this role, I have witnessed firsthand the incredible advancements in our industry and the ways Charles Taylor has embraced innovation to better serve our clients.
In this article, I will discuss some of the exciting developments in our internal tech from an executive's perspective.
Embracing Cloud-Native Initiatives and Open-Source Technologies
At Charles Taylor, we prioritize staying at the forefront of the tech industry by leveraging cloud-native initiatives and open-source technologies.
Our close partnership with Microsoft continues to provide us exclusive access to the latest technologies, one of the most notable being the OpenAI initiative. This cooperative relationship has significantly enhanced our ability to streamline processes.
Meanwhile, our engagement with cloud automation and DevOps applied practices extends beyond our Microsoft collaboration. A prime example of this is our use of Terraform as part of our Cloud Native initiative. Through this approach, we've dramatically cut down product installation times from a full day to just a few minutes, making our operations more efficient.
In a business world where clients demand rapid changes, we are setting the bar high with our innovative solutions. We provide standardized, yet flexible, solutions that include orchestration, digital interfaces, and customizable user journeys.
To further enhance our service delivery, we've developed a unique Marketplace. This platform is designed to foster efficient development, testing, and deployment of solutions across multiple stages from a single interface. The transition of changes from UAT (User Acceptance Testing) to live environments has never been simpler.
In the past, transitioning configurations from a UAT environment to a live one was a complex process involving file exports and imports, contingent on fulfilling every dependency. Now, with our cutting-edge practices and unique Marketplace, this task has become considerably streamlined, giving our clients faster and more reliable results than ever before.
Integrating ChatGPT and AI Technologies
As a company at the forefront of insurance technology, we are always looking for ways to incorporate new innovations into our products.
One such technology is ChatGPT, an artificial intelligence-powered language model developed by OpenAI. With our Microsoft partnership, we have early access to the technology and are exploring potential applications for our existing products.
For instance, our InHub Fraud Prevention capability, utilizes machine learning algorithms to identify potential fraudulent claims. Integrating ChatGPT could further enhance this process by improving the accuracy and efficiency of our algorithms.
Another possible application is in our Bordereaux system, which could leverage ChatGPT to extract information from unstructured documents more effectively.
Adopting Microfrontend Technologies and Improved UI
One of the significant developments in our tech infrastructure is the adoption of micro frontend technologies, such as Webpack Module Federation in React applications.
These technologies allow us to create small, composable applications that can be easily integrated into our digital portals. This approach benefits both us and our clients, as it enables us to develop and deploy new features more quickly while providing a more user-friendly experience.
Looking Ahead: Charles Taylor's Tech Priorities for the Future
As we move forward, our priorities for the rest of the year and beyond include:
- Continuing to develop our micro frontend technologies and exploring other ways to enhance our digital platforms.
- Investigating DXP technologies to create better design experiences and plugins for our clients.
- Working on improving our APIs to enable clients to seamlessly integrate our services into their existing tools and workflows.
- Exploring the potential of AI technologies like ChatGPT to further streamline and automate our processes.
At Charles Taylor, we are committed to staying at the forefront of insurance technology innovation.
As we continue to explore new technologies and improve our internal tech development, we are excited about the future possibilities for our products and the ways we can better serve our clients in the ever-evolving insurance industry.
For more information on Charles Taylor and our insurance tech solutions, please visit our website.
