Alset Insurance, LLC Transforms Auto Insurance Integration with AWS Data Lake
Alset Insurance revolutionizes the automotive insurance industry with Amazon Web Services (AWS) Data Lake
Alset Insurance, LLC ,has rapidly emerged as a game-changer in the automotive industry by seamlessly integrating auto insurance into every vehicle sale. In an era of fierce market competition due to expanding markets, diverse consumer preferences, and technological advancements, Alset Insurance offers a fully embedded, digital-first auto insurance platform. Alset Insurance’s innovative platform delivers a frictionless buying experience with a new value proposition. The solution enables original equipment manufacturers (OEMs) and car dealers to generate competitively priced auto insurance quotes within 30 seconds or less at the point of sale.
Integrating Diverse Data Sources for Seamless Operations
As Alset Insurance became part of the dealership sales pipeline across different states, the need arose to integrate several varieties of custom software to trigger the insurance process during the auto sales purchasing cycle. Gathering information from various data sources took time and effort due to the industry’s lack of standardized data formats. This bottleneck could have hindered the efficiency and speed of generating insurance quotes and processing sales.
PurpleBox Standardizes Data Integration with AWS Services
Alset Insurance turned to PurpleBox (AWS Partner) for their expertise in data digestion and cloud solutions. PurpleBox implemented a Serverless environment to gather and transform data efficiently. The solution included the following AWS services:
- AWS Lambda: Enabled automatic data processing and transformation.
- Amazon EventBridge: Scheduled events for data integration tasks.
- Amazon API Gateway: Managed API requests for data gathering.
- Amazon DynamoDB: Provided scalable and flexible database storage.
- Amazon S3: Offered secure and durable object storage.
- Amazon RDS: Managed relational database services for structured data.
- Amazon QuickSight with Q: Facilitated advanced data analytics and visualization.
- Amazon SNS and Amazon Pinpoint: Enhanced communication and notifications.
This comprehensive approach allowed Alset Insurance to standardize a HUB to receive data and transform it into usable information for their team to analyze and model against. Additionally, real-time data gathering enabled Alset Insurance to offer discounts based on live information, enhancing customer satisfaction and operational efficiency.
Significant Improvements in Integration, Cost Optimization, and Sales Automation
The impacts of PurpleBox’s solution for In The Car include:
- Successful Integration: Achieved seamless integration with all Dealer Management Systems (DMS) within the required timeframe, ensuring smooth operations across different states.
- Cost Optimization: Executed cost optimization strategies, eliminating cost leaks in the services used.
- Automated Insurance Sales: Enabled ITC to sell insurance to their customers in an automated manner while performing advanced analytics on both their data and drivers’ data.
- Enhanced Dealer Insights: Provided dealers with comprehensive information on insurance sales, improving their understanding of sales pipelines and performance metrics.
Matthew Edmonds, Chief Executive Officer of In The Car, LLC, stated, “The collaboration with PurpleBox showcases the power of AWS services in transforming complex business processes into streamlined, efficient operations.”
Nihat Guven, PurpleBox’s CEO, added, “Our partnership with In The Car highlights our commitment to leveraging AWS technologies to drive significant business outcomes. By standardizing data integration and automating critical processes, we’ve empowered ITC to provide an enhanced customer experience. This project is an example of our expertise in delivering innovative cloud solutions that meet the unique needs of our clients.”
Future Outlook
Alset Insurance is poised for continued growth and innovation, leveraging the robust and scalable solutions provided by PurpleBox and AWS. With enhanced data integration and real-time analytics capabilities, Alset Insurance will further disrupt the automotive insurance market, delivering unparalleled value to OEMs, dealers, and customers.
About Alset Insurance LLC
Alset Insurance, LLC, is a leading provider of white-labeled, turn-key, digital-first insurance programs designed for OEMs and dealerships to provide a seamless, real-time integrated insurance experience for customers at the point of sale. More information about the company and its products and services is available at www.alsetinsurance.com.
About PurpleBox, Inc.
PurpleBox offers a comprehensive suite of cloud services including migration, architecture & optimization, DevOps, application development, and AI & ML. As an AWS Partner, PurpleBox assists clients with cloud transformation and migration, providing strategies for cloud architecture, security, compliance, and cost optimization. www.prplbx.com
