NSW goes SaaS for insurance portal
The NSW State Insurance Regulatory Authority (SIRA) has launched a new online consumer portal aimed to promote competition and transparency in the automobile insurance segment.
Green Slip Price Check will allow insurance policy buyers in New South Wales to access quote comparisons from multiple insurers in real time, and to switch insurers if they find a better deal.
The authority is using a SaaS-based rating system provided by US-based Duck Creek Technologies for the new portal.
The OnDemand Rating solution is hosted on Microsoft’s Azure cloud and will allow the authority to validate changes to pricing and coverage options provided to consumers by the state’s major insurers and reject those that do not comply with price-setting rules.
This back-end solution has been integrated with an independent front-end user interface that can support pricing comparisons at up to 10,000 quotes per hour.
NSW Minister for Finance, Services, and Property Victor Dominello said to date over 95% of users of the price check website have reported a positive experience.
“The introduction of new technologies and innovations, such as the Duck Creek platform, are critical to the future success of our compulsory third-party insurance scheme,” Dominello said.
“The Green Slip Price Check website is helping to drive competition in the CTP market by making it easier for motorists to compare prices and switch insurers if they find a better deal.”
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