Insurers need to spin the technology that offers their customers with more efficient, optimized and relevant policies. The ones that could be customized could be fed with data from a wearable/mobile device or the ones that are applicable for just an hour. With such customer focus initiatives, they yet need to achieve core business objectives like price and operational efficiency and compliance to stringent regulations. Could the Insurtech meet up the expectations? Could technology lend a helping hand? Let’s explore how the insurance vertical is evolving with the latest technology and what its future is –

The Present of InsurTech

The insurance firms are under immense pressure of reorganizing their house – customized policies, risk mitigation strategies, real-time analytics, instant claim settlement, sensors, drones and augmented reality (AR) apps are playing a significant role. So, what are the technologies adopted by the firms? Let’s take a closer look –

Robo-Advisory Services

Robo-Advisors have seen a broad adoption across insurance sectors. Unlike olden days when hiring a financial advisor was a dream for many individuals, with Robo-advisors people of the low-income group could use DIY advisory for their financial portfolio. Should you opt for all critical disease cover or only a few? Should buying an integrated policy be beneficial or an individual one is some of the questions that could be answered via Robo-Advisory Services.

Policies via Sensors, Detectors, and Telematics

Sensors, Detectors connected via the internet could send early signals of smoke/radiations to the rescue services, helping in minimizing the damages. Also, Telematics like monitoring automobile speed, the behavior of a rash driver could assist in making a clear judgment of claim policies for individuals and insurance firm. Hence while IoTs and interconnected network could be a boom in offering customized policies, these minuscule are taking insurance services to the next step.

The Future of InsurTech

Could technologies like Blockchain, Augmented Reality, Virtual Reality change the world sees insurance sector? Would they bring in the exotic flavors of policies? Only time can tell, for now, let’s explore how these technologies could be handy in insurance sector?

Blockchain

A distributed ledger technology has the potential to ease out fraud detection and risk prevention as per a report from EY. The report also highlights that blockchain is efficient in establishing transparent and customer focussed claims building trust and loyalty for the insurance firms.

Augmented or Virtual Reality

Just imagine driving in stormy weather, an AR app helps you define the road/lane border so that you do not bombard a tree or a car in your parallel path. Or how about a 3D modeling and simulations help customers in making insurance claims easier and faster? Or how about before you go for the home insurance a simulation helps you pinpoint all the areas under insurance rather than reading the lengthy document? It all is a possibility with AR and VR technologies.

With the evolution of technologies, the secret is to be adaptable to change. @Mantra Labs we believe in this, and hence one of our esteemed clients Religare is using our InsurTech solutions in Post-sale, pre-claim, post-claim and renewal processes. It helps in providing customers with transparent and intuitive services that is robust and secured for businesses. A win-win for all.

Reference Links:

https://assets.kpmg.com/content/dam/kpmg/xx/pdf/2016/10/how-augmented-and-virtual-reality-changing-insurance-landscape.pdf

Why Netflix Broke Itself: Was It Success Rewritten Through Platform Engineering?

By : Sampada

Published on Nov 13, 2024

App development Platform Engineering

Let’s take a trip back in time—2008. Netflix was nothing like the media juggernaut it is today. Back then, they were a DVD-rental-by-mail service trying to go digital. But here’s the kicker: they hit a major pitfall. The internet was booming, and people were binge-watching shows like never before, but Netflix’s infrastructure couldn’t handle the load. Their single, massive system—what techies call a “monolith”—was creaking under pressure. Slow load times and buffering wheels plagued the experience, a nightmare for any platform or app development company trying to scale

That’s when Netflix decided to do something wild—they broke their monolith into smaller pieces. It was microservices, the tech equivalent of turning one giant pizza into bite-sized slices. Instead of one colossal system doing everything from streaming to recommendations, each piece of Netflix’s architecture became a specialist—one service handled streaming, another handled recommendations, another managed user data, and so on.

But microservices alone weren’t enough. What if one slice of pizza burns? Would the rest of the meal be ruined? Netflix wasn’t about to let a burnt crust take down the whole operation. That’s when they introduced the Circuit Breaker Pattern—just like a home electrical circuit that prevents a total blackout when one fuse blows. Their famous Hystrix tool allowed services to fail without taking down the entire platform.

Fast-forward to today: Netflix isn’t just serving you movie marathons, it’s a digital powerhouse, an icon in platform engineering; it’s deploying new code thousands of times per day without breaking a sweat. They handle 208 million subscribers streaming over 1 billion hours of content every week. Trends in Platform engineering transformed Netflix into an application dev platform with self-service capabilities, supporting app developers and fostering a culture of continuous deployment.

Did Netflix bring order to chaos?

Netflix didn’t just solve its own problem. They blazed the trail for a movement: platform engineering. Now, every company wants a piece of that action. What Netflix did was essentially build an internal platform that developers could innovate without dealing with infrastructure headaches, a dream scenario for any application developer or app development company seeking seamless workflows.

And it’s not just for the big players like Netflix anymore. Across industries, companies are using platform engineering to create Internal Developer Platforms (IDPs)—one-stop shops for mobile application developers to create, test, and deploy apps without waiting on traditional IT. According to Gartner, 80% of organizations will adopt platform engineering by 2025 because it makes everything faster and more efficient, a game-changer for any mobile app developer or development software firm.

All anybody has to do is to make sure the tools are actually connected and working together. To make the most of it. That’s where modern trends like self-service platforms and composable architectures come in. You build, you scale, you innovate.achieving what mobile app dev and web-based development needs And all without breaking a sweat.

Is Mantra Labs Redefining Platform Engineering?

We didn’t just learn from Netflix’s playbook; we’re writing our own chapters in platform engineering. One example of this? Our work with one of India’s leading private-sector general insurance companies.

Their existing DevOps system was like Netflix’s old monolith: complex, clunky, and slowing them down. Multiple teams, diverse workflows, and a lack of standardization were crippling their ability to innovate. Worse yet, they were stuck in a ticket-driven approach, which led to reactive fixes rather than proactive growth. Observability gaps meant they were often solving the wrong problems, without any real insight into what was happening under the hood.

That’s where Mantra Labs stepped in. Mantra Labs brought in the pillars of platform engineering:

Standardization: We unified their workflows, creating a single source of truth for teams across the board.

Customization: Our tailored platform engineering approach addressed the unique demands of their various application development teams.

Traceability: With better observability tools, they could now track their workflows, giving them real-time insights into system health and potential bottlenecks—an essential feature for web and app development and agile software development.

We didn’t just slap a band-aid on the problem; we overhauled their entire infrastructure. By centralizing infrastructure management and removing the ticket-driven chaos, we gave them a self-service platform—where teams could deploy new code without waiting in line. The results? Faster workflows, better adoption of tools, and an infrastructure ready for future growth.

But we didn’t stop there. We solved the critical observability gaps—providing real-time data that helped the insurance giant avoid potential pitfalls before they happened. With our approach, they no longer had to “hope” that things would go right. They could see it happening in real-time which is a major advantage in cross-platform mobile application development and cloud-based web hosting.

The Future of Platform Engineering: What’s Next?

As we look forward, platform engineering will continue to drive innovation, enabling companies to build scalable, resilient systems that adapt to future challenges—whether it’s AI-driven automation or self-healing platforms.

If you’re ready to make the leap into platform engineering, Mantra Labs is here to guide you. Whether you’re aiming for smoother workflows, enhanced observability, or scalable infrastructure, we’ve got the tools and expertise to get you there.

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