Technology Category
- Application Infrastructure & Middleware - Data Exchange & Integration
- Application Infrastructure & Middleware - Middleware, SDKs & Libraries
Applicable Industries
- Buildings
- Finance & Insurance
Applicable Functions
- Product Research & Development
- Quality Assurance
Use Cases
- Inventory Management
- Usage-Based Insurance
Services
- System Integration
- Training
About The Customer
Clal Insurance is one of the leading insurance and pension companies in Israel. The company, founded in 1978, owns insurance agencies, pension funds, provident funds, training funds, and credit-granting companies. With 4,600 employees and 2,000 insurance agents, Clal is ranked as one of Israel’s leading long-term insurance and savings groups. Despite the competitive insurance industry in Israel, especially with the influx of new InsurTech startups, Clal has managed to maintain its position through continuous innovation and adaptation to changing market conditions.
The Challenge
Clal Insurance, a leading insurance and pension company in Israel, was facing a multitude of challenges. The insurance industry in Israel had become extremely competitive due to the influx of new InsurTech startups aiming to disrupt the market. This put Clal, a 34-year industry veteran, in a position where it needed to react quickly to outpace these startups, a task made difficult by the vast amount of data tied up in older systems. Additionally, Clal was grappling with a global financial crisis, aggressive changes in the regulatory landscape, and the challenge of low-to-zero interest rates. The company was also dealing with manual applications, growing SLA compliance risks, and rising business costs. To stay competitive and meet SLA requirements, Clal needed to innovate and adapt to these changing market conditions.
The Solution
Clal's approach to overcoming these challenges was a combination of integration to connect their own systems and API management to collaborate with external systems. The company credited much of its resilience to webMethods, its integration platform of record since 2002. Clal developed a central, unified platform to connect core systems with external partners, handling traffic reaching millions of files per month. This platform significantly reduced costs, time to market, and SLA compliance risks. In 2019, Clal started using webMethods for API management, which allowed them to eliminate duplicates among 25% of existing APIs, cut internal-external development times from months to weeks, and accrue financial savings. Clal also launched a new initiative called Simulators to automate manual insurance product forms, reducing time to approval, eliminating manual processing hours, and increasing agent and client satisfaction.
Operational Impact
Quantitative Benefit
Case Study missing?
Start adding your own!
Register with your work email and create a new case study profile for your business.
Related Case Studies.
Case Study
Energy Saving & Power Monitoring System
Recently a university in Taiwan was experiencing dramatic power usage increases due to its growing number of campus buildings and students. Aiming to analyze their power consumption and increase their power efficiency across 52 buildings, the university wanted to build a power management system utilizing web-based hardware and software. With these goals in mind, they contacted Advantech to help them develop their system and provide them with the means to save energy in the years to come.
Case Study
Intelligent Building Automation System and Energy Saving Solution
One of the most difficult problems facing the world is conserving energy in buildings. However, it is not easy to have a cost-effective solution to reduce energy usage in a building. One solution for saving energy is to implement an intelligent building automation system (BAS) which can be controlled according to its schedule. In Indonesia a large university with a five floor building and 22 classrooms wanted to save the amount of energy being used.
Case Study
Powering Smart Home Automation solutions with IoT for Energy conservation
Many industry leaders that offer Smart Energy Management products & solutions face challenges including:How to build a scalable platform that can automatically scale-up to on-board ‘n’ number of Smart home devicesData security, solution availability, and reliability are the other critical factors to deal withHow to create a robust common IoT platform that handles any kind of smart devicesHow to enable data management capabilities that would help in intelligent decision-making
Case Study
Commercial Building Automation Boosts Energy Efficiency
One of the challenges to building automation is the multitude of non-interoperable communications protocols that have evolved over the years. Buildings have several islands of automation. Bridging the islands of different automation without losing the considerable investment in each specialized control network is the main focus in this solution.
Case Study
Protecting a Stadium from Hazardous Materials Using IoT2cell's Mobility Platform
There was a need for higher security at the AT&T Stadium during the NFL draft. There was a need to ensure that nuclear radiation material was not smuggled inside the stadium. Hazmat materials could often be missed in a standard checkpoint when gaining entry into a stadium.