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Unleashing Unlimited Agility with APIs and Integration: A Case Study on Clal Insurance
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
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.
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 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
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