NoSQL Database for Insurance Companies Published: 2021-09-03

NoSQL Database for Insurance Companies

by Oren Eini 2021-09-03
NoSQL Database for Insurance Companies

Insurance Company Ensures its Data with RavenDB NoSQL Database

IF Insurance generates a billion dollars a year offering property and casualty insurance to the Nordic and Baltic regions.

P&C covers everything from your house to your car, boat, and everything inside it. It covers any type of damage done, theft, even protection from lawsuits that involve these personal assets.

When it comes to our biggest asset, our home, it must be safe. When it comes to our net worth, something that can be exposed to lawsuits, property and casualty insurance can also protect you.

It is routine to take pictures of everything inside your home for the insurance company. Claims, assessments, police reports, lawyers’ briefs all make a part of the digital infrastructure containing massive amounts of documents that have to be processed and maintained.

Hence, people have protection for the things they worked hard to make their own.

A NoSQL Database for the Insurers Insurance

The IF Insurance Company has automated processes to accept claims and documents from its customers. Once those documents go through the system, they are stored in RavenDB as well as other databases.

RavenDB will hold their metadata, enabling them to sort documents by claim holder, type of insurance, document type, document submitter, time stamp, and more.

This creates a digital file cabinet that enables the company to put together a claim efficiently and quickly, always keeping everyone in the loop on necessary information still needed to complete the claim.

For people who need reimbursement to replace their home or their car so they can get back to work, these details can be critical.

RavenDB is responsible for maintaining hundreds of gigabytes of information. Using the modern-day NoSQL document database has enabled them to streamline their overhead and provide better service to their clients.

RavenDB and Machine Learning

A Dot Net Database for a Dot Net System

Each claim has a certain amount of static information that applies everywhere, but it also has fields and types of information that can be unique to the claim.

RavenDB meets their needs as a schemaless database, letting different documents take in various pieces of information without digging up and rearranging the foundation of the application.

IF relies heavily on automatic indexes to bring out such diverse data in a rapid manner.

For an insurance company, the essential feature is to be available to their users at all times. Therefore, they employ a database cluster with multiple nodes to always have an “open for business” sign on at least one of the nodes 24 hours a day, seven days a week.

This gives them the availability they need to keep all their documents in order under any possibility.

Happy with the database where everything just works, IF Insurance has been using RavenDB since the 3.0 version, and it has never had any problems, other than pushing against the limits of its hardware as the company continues to grow along with its IT infrastructure.

That’s an ongoing challenge RavenDB is happy to welcome and conquer with its satisfied customers.

Are you interested in a highly available cluster for your data?

Take a free live demo of RavenDB, where a developer will show you the ropes and answer all your questions.

Start ensuring your application data today.