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Some leave the future up to fate, while others opt to create it for themselves. When it comes to the future of the insurance software industry, it will take a saga of decoding to predict it. The good news is that software engineers like Janakiram Thumati are experts in deciphering the complexities and translating them into efficient insurance software innovations.
“The future of insurance lies in seamless integration and enhanced consumer experience,” says Thumati, who recently received the Indian Achievers award for his contributions to the industry.
The industry is bracing for rapid technological advancements. In line with this, Thumati’s forte in navigating elaborate billing integrations and system migrations stands out as a key indicator for a bright future in software development.
Bridging the technological gap
Outdated systems jump from one end to another until they fall into a pitfall, creating technological gaps. This is where specialists like Janakiram step up to the plate.
In 2016, ACE Limited’s acquisition of The Chubb Corporation marked a fundamental moment for the insurance industry. The merger required integrating disparate billing systems into a unified platform. Thumati, then working with Capgemini, spearheaded this complex project, establishing a seamless transition with minimal disruption to consumer experience.
“Integration does not mean much if harmony is not factored into the equation. Harmonizing processes and maintaining data integrity is first and foremost,” Thumati explains. His methods involved assessing integration requirements, understanding data mappings, choosing the right integration methods, and rigorous testing before deployment. This meticulous process preserved data accuracy while streamlining operations across the merged entities.
Rolling with the punches in data security
Everyone knows that change is inevitable, and more often than not, change demands gargantuan steps out of one’s comfort zone. The same concept was implemented when the California Consumer Privacy Act (CCPA) was enacted in 2020. This required businesses to provide new privacy rights to California residents.
For Capgemini, this meant implementing significant changes to certify compliance. Thumati was a pillar in this effort, overseeing the project for their Progressive Corporation client with attention to detail.
“Compliance with CCPA went beyond meeting legal requirements; it was about reinforcing consumer trust,” Thumati remarks, shining a light on the deeper meaning of the privacy act. His responsibilities included interpreting data security solution requirements and creating high-level system designs for data security software implementation on Progressive’s applications. This ranged from policy servicing and quoting all the way to billing and claims.
Thumati consulted with Enterprise Security Architects to understand the scope of the data to be encrypted and defined the eligible data sets for encryption. Furthermore, he investigated applications and data flows to ensure the system was ready for data set encryption. Afterwards, he inspected whether the system was calibrated for evaluating database-level limitations and the process steps to migrate and protect data at rest within the DB2 platform.
“We needed to make sure that personal data was protected at every stage, from collection to storage,” Thumati explains. He was responsible for designing and replacing the existing unencrypted data with DB2 Always Encryption at Progressive’s platform.
The human element in technological integration
Thumati’s success isn’t solely attributed to his technical acumen. His ability to foster communication and collaboration among diverse teams is pivotal in his projects.
“Technology is only as effective as the people who operate and manage it,” he asserts. Thumati has a bird’s-eye view of company projects by coordinating activities between offshore and onshore teams. This way, he can keep them functioning as seamlessly as possible.
While Thumati’s contributions are widely recognized, he acknowledges that the focus on technological integration should not overshadow the importance of customer-centric innovation. “Integration is essential, but the real challenge lies in continuously enhancing the customer experience,” he muses.
This perspective highlights the ongoing debate within the industry regarding the balance between technological advancements and customer satisfaction. The software specialist finds equilibrium amid the digital chaos by maintaining the irreplaceable human touch in technology.
Eyes on the future
As the insurance software industry evolves, Thumati’s forward-looking techniques solidify his status as a bonafide leader. His work on complex billing integrations, regulatory compliance, and system migrations underscores the critical role of technology in redefining the future of insurance.
Janakiram Thumati is on the fast track toward unraveling the secrets that the insurance software industry holds for tomorrow and the day after that.
