InsurTech: Event-driven Insurance Policy Processing Approach
Industries Blog
This article discusses building a modern, scalable insurance policy administration system on Amazon Web Services (AWS) using an event-driven architecture with services like Amazon EventBridge, AWS Step Functions, and AWS Lambda.
Specifically, the article covers:
- Challenges with traditional monolithic insurance policy processing systems
- Benefits of an event-driven architecture for insurance policy processing
- Overview of the typical lifecycle of an insurance policy workflow
- Detailed example of the Reserve Submission process using an event-driven approach
- Key AWS services used (Amazon API Gateway, Amazon EventBridge, AWS Step Functions, AWS Lambda, Amazon DynamoDB)
- Architectural diagrams and data flow explanation
- Conclusion highlighting the advantages of an event-driven architecture
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