CDL Proteus: enabling mass market product distribution
CDL Proteus is an innovative insurer hosted pricing (IHP) solution which enables insurers to achieve strategic, mass market product distribution and make changes to product and pricing strategies in real-time, allowing them to instantly respond to changes in market conditions.
The AWS hosted solution provides:
- Flexibility to scale up capacity on demand as insurers are able to easily expand cloud infrastructure
- Opportunities to drive growth and profitability as this enables insurers to accommodate additional partners and products
- Integrated enrichment service facilitating more intelligent rating decisions based on extensive industry data
- Alerts service for product performance monitoring means immediate action can be taken when specific thresholds are triggered
- Security and compliance with AWS tools for data encryption and support for all major security standards and compliance certifications to satisfy compliance requirements for virtually every regulatory agency around the globe.
Proteus on AWS
Proteus processes over 164 million transactions per day, using AWS services to ensure resilience and scalability when storing and processing data. These include:
- Multiple Availability Zones and the Amazon Elastic Container Service to enable applications to be run on the most optimal compute resources via capacity providers
- Self-healing services and AWS Enterprise Support for 24/7/365 monitoring and technical support and the highest levels of availability
- Amazon S3 object storage, which gives access to the same highly scalable, reliable and fast data storage infrastructure that Amazon uses to run its own global network of web sites.
Customer case studies
- Pukka Services Taking control of product pricing and distribution, accelerating delivery to its broker community.
- Covéa Insurance Optimising pricing in real time to adjust rates dynamically while ensuring speed, resilience and scalability
- LV= Broker Giving brokers faster access to the latest competitive products with control and agility to market
- Integra Insurance Achieving product and pricing control, with whole market connectivity and actionable data insight
- Ageas Insurance Leveraging the transformational benefits of cloud migration for smarter, faster working
- Sabre Enabling real-time updates and distribution for instant responses to market changes
Running Proteus on AWS
The Proteus platform consists of the following components:
- The marshalling tool facilitates the connection to the insurance marketplace.
- The Quotes Hub facilitates connections to third party services. This can be enrichment services and more recently machine learning services, such as CDL's Goldfinch. The Quotes Hub also controls the workflow through the system.
- The Rules Engine allows for business rules that filter or reject requests prior to quotes being requested.
- The Flexible Pricing Engine allows real time pricing changes to be calculated for the insurer, using all the information from the quote request plus the data enrichments. All of the data for the request and response is made available for analytics via third party software or CDL's Kingfisher data platform.
- To allow customers to deliver pricing changes to support rapidly changing market events, CDL provides a self-service tool called the PDI. The product deployment interface is the management tool responsible for facilitating the upload of assets, the building of rating packages and, ultimately, the deployment of the package to the production environment.