At a glance
Experian’s acquisition of ISL for the use of its statistical modelling software had created the need for modernisation. ISL’s application collected and analysed statistical information from numerous insurance companies for analysis, but the software was quite old. Avco helped Experian modernise it by analysing the source code and designing and building a new and more efficient statistical modelling application. The new application, named Whatif?, enables insurers to compare prices and check competitiveness of current rates.
The Problem
In order to strengthen its market analysis tool, Whatif?™, Experian acquired ISL (Intermediary Systems Limited), a risk modelling and analytics company for the insurance industry. Whatif? Provides insurers with analysis of monthly premiums from insurance brokers for household, private car, commercial vehicle and motor cycle insurance.
However, after acquisition, Experian found itself facing the following problems with ISL’s system:
- The software was quite old.
- Since the original developers were no longer available, any known bugs could only be addressed with minor modifications.
- Processing was very slow and the application was unable to compete effectively with rival offerings from other organisations.
The Approach
Considering Avco’s specialization in modernising legacy systems, Experian assigned it the task of future proofing the system. Avco analysed the source code, designed and built a new and more efficient version of the statistical modelling application. Avco also revamped the application’s UI to update it with Experian’s new theme.
