Revol One Financial’s fast-track launch with Genpact and AWS

Revol One Financial®, is a US-based fixed annuity provider disrupting the fixed annuity sector with a digital-first, cloud powered platform for fixed index and multi-year guarantee annuities (FIAs and MYGAs). Focused on three core pillars – nimble product innovation, meaningful distribution relationships, and a relentless commitment to best-in-class service – Revol One Financial aims to deliver value at the speed of their customers’ ambition. 

While Revol One Financial’s zero tech debt was an advantage, it also meant starting from the ground up to develop a digital native insurance platform. This included:

• Fast-tracking Revol One Financial’s entrance into the fixed annuity insurance sector as a digital-first, cloud-based provider and revolutionizing the industry with innovative tech platforms that:

   

  • Streamline and digitize operations

  • Shorten product launch timelines

  • Support a relentless commitment to best-in-class service standards that enhance customer experiences across its digital ecosystem

Revol One Financial worked with Genpact and AWS to build a robust, cloud-native ecosystem from the ground up. Genpact approached the challenges by combining its data, technology expertise, deep rooted industry knowledge and partnership with AWS.

Solution highlights

1. 360º agent and customer portals powered by AWS

Legacy user interfaces in the insurance sector tend to focus heavily on sales-related CRM systems. In contrast, Revol One Finanical’s custom-designed Agent 360 portal, developed using the Foundational Agile Strategic Transformation (FAST) process, delivers a comprehensive, 360-degree view of customers for financial professionals and distribution relationships.  This agile technology ecosystem enables efficient tracking of key responsibilities like policy administration, compliance, and customer service, with real-time insights into policy documents, agent certifications, commissions, and agent pending book of business. A similar Customer 360º view is underway to enhance customer interactions via self-service automation.

2. Integrated services in a cloud-native environment

Revol One Financial’s technology ecosystem is cloud-native, highly resilient, and cost-effective, offering distribution relationships and financial professionals a personalized 360-degree view of the customer. The ecosystem is deep rooted in AWS cloud, enabled by native services that include Bedrock, Connect, CloudTrail, Wisdom, and OpenSearch Serverless.

3.      Excellence in customer service through automation

a. Intelligent document management: The team utilized AWS Wisdom, OpenSearch, Lambda, and Step functions to develop a scalable, event-driven document management system. This system facilitates policy generation and binding processes – including signature capture and customer communications – and indexes documents across each stage. It also automates back-office activities, enabling the Revol One Financial service team to focus on the customer and deliver an elevated standard of service that is fast, focused and personalized.

b. Data integration hub: An event-driven integration hub manages seamless file transfers across multiple systems cutting across ERP (General Ledger), PAS, New Biz, and the document management system, pinpointing transaction success or failure at each stage for quick troubleshooting.

c. Omnichannel customer support: Amazon Connect powers a responsive call center, enabling seamless support across platforms and devices.