Moves core insurance applications to Oracle Cloud Infrastructure improves application performance by up to 70 percent.
Max Life Insurance Company Ltd. has moved all of its mission-critical database workloads to Oracle Exadata Database Service running on the Exadata platform in Oracle Cloud Infrastructure (OCI). In addition, Max Life has migrated its core systems to OCI, including customer service, claims management, marketing, and policy issuance, resulting in an application performance improvement of up to 70 percent. Furthermore, Max Life’s business service uptime has remained close to 99 percent, and system performance of core systems has improved by around 30 percent, thereby contributing to business agility and customer experience.
Max Life offers comprehensive protection and long-term saving life insurance solutions to around 4.2 million active customers through e-commerce, multichannel distribution of agencies, and third-party distribution partners. With India’s insurance sector projected to be the fastest growing among the G20 nations, with 7 percent growth over 2024-28, Max Life recognized the need to be future-ready by upgrading its on-premises legacy infrastructure. It needed scalability, adaptability, an online Disaster Recovery site, and resilience to ensure system uptime and gain data insights to serve better its large ecosystem of partners, agents, and internal teams. Max Life selected Oracle Exadata Database Service on OCI for its scalability, availability, and security features.
Suhail Ghai, chief digital and information officer, Max Life Insurance Company, said, “As we accelerate Max Life’s digital transformation journey, cloud technologies will be key to enhancing the performance and availability of our core applications for better customer experience. The migration to Exadata Database Service on OCI has laid a solid foundation for us to capitalize on the increasing demand for life insurance in India and propel our growth trajectory.”
Oracle Exadata Database Service is an automated Oracle Database service on OCI that allows organizations to run databases with the highest performance, availability, security, and cost-effectiveness. Oracle databases run faster and with fewer resources, powered by the scale-out Exadata infrastructure, which includes unique transaction processing, analytics, and mixed workload optimizations.
Max Life utilized the Oracle Cloud Mumbai Region and Oracle Cloud Hyderabad Region for migration. With the Oracle Cloud Regions, Max Life has leveraged redundancy and disaster recovery capabilities to enhance business continuity and help meet the regulatory compliance requirements of India’s Insurance Regulatory and Development Authority (IRDAI). Additionally, Max Life utilized OCI solutions such as Compute, Storage, Object Storage, and File Server to provide high-performance computing and low-cost cloud storage options to help improve the efficiency and productivity of its IT team.
“India’s insurance market is undergoing significant transformation marked by increasing digital interactions, evolving customer demands, competition from established and emerging players, and regulatory changes,” Kapil Makhija, vice president, Technology Cloud, Oracle India, said, “Exadata Database Service on OCI has enabled Max Life to improve performance across all workloads, optimize cost, and reduce downtime. With OCI’s world-class architecture and the Exadata platform to run databases at scale in the cloud, Max Life is now well-equipped to meet customer demands with agility and improved responsiveness, facilitating business growth.”
In less than five months, Infolob Global, a long-time Oracle PartnerNetwork (OPN) member, implemented this project. “Hybrid and multi-cloud environments are redefining IT strategies since they provide unparalleled flexibility and help organizations address IT redundancy. More and more customers are exiting data centers and choosing cloud,” said Satyendra Pasalapudi, Managing Director, Infolob Global. “With our expertise in Oracle cloud deployments, we helped Max Life migrate critical workloads to Oracle Cloud and helped them reduce IT costs to enable them to focus on innovation and business growth.”