Sunil Jain is senior vice president - business systems and technology at HDFC Life Insurance and responsible for enabling large partnerships and driving overall IT architecture of the company. With rich experience in IT - product management, cost alignment, digital transformation, designing enterprise systems - he has led multi-million dollars enterprise accounts & large cross delivery teams for clients in Europe & India - to help them achieve their strategic objectives thru’ new initiatives. He is an engineering graduate in Computer Science from Birla Institute of Technology.
The growing competition in the insurance sector across India compels IT leaders to leverage ‘out of the box’ digital strategy. One of the largest telecom company required HDFC Life to provide a built-in life insurance cover for the monthly prepaid recharges done by its customers. The insurance renews automatically for subsequent recharges. The ask was to process thousands of recharges a day and issue the Certificate of Insurance under one second. To compound the issue, the traffic comes in bursts. The time and the cost, as always, was under extreme pressure. This required a fundamental rethink of the entire business process and end to end journey including the touch points to various systems of records and accounts. The IT system was revamped to cater to large burst traffic and sub second performance. The whole middleware system was designed and developed for cloud deployment using technologies such as lambda functions, Solr engine, Apache Flink, bots for error handling, RabbitMQ, AMS, RDS and other tools – mostly all opens source to keep the cost low and auto scale functions to cater to large traffic bursts. The system had its share of challenges and took 4 weeks to stabilize post production and clear all the information security guidelines. Now its first of its kind initiative within the telecom industry - Insurance is issued in near real time. The tie-up is expected to improve insurance penetration in the country, given the telecom provider large consumer base.