Insurance aggregators—websites or platforms that compare insurance products and facilitate quotes—play a pivotal role in customer acquisition and brand visibility for insurers. However, effectively managing multiple aggregators poses unique challenges, including data consistency, pricing strategies, compliance, and timely policy issuance.
Leveraging OutSystems as your low-code platform can streamline these processes, offering automation and real-time integration to help you stay competitive and deliver exceptional customer experiences.
In this blog, we’ll explore best practices for designing and managing aggregator workflows using OutSystems.
Centralize and Standardize Aggregator Data
Why It Matters
Aggregators often capture vast amounts of customer data—like coverage requirements, personal details, and quote requests. Handling each aggregator’s data separately can lead to duplication, inconsistencies, and manual re-entry across systems.
Best Practices
- Unified Data Model: In OutSystems, create a centralized data structure that defines universal fields—name, address, coverage types—then map aggregator-specific fields to these core objects.
- Pre-Built Connectors: Use OutSystems’ integration tools (REST, SOAP, etc.) to automate data retrieval from each aggregator’s API, ensuring all quotes and leads flow into one repository.
- Data Validation: Implement rules to automatically detect incomplete or conflicting fields. This cuts down on manual follow-ups and prevents inaccurate quotes from proceeding.
Key Takeaway: Centralizing aggregator data lays the groundwork for consistent processes and real-time visibility into lead quality.
Automate Quote and Bind Processes
Why It Matters
When potential customers submit quote requests via aggregators, speed is crucial—delays or manual steps can result in lost sales. A fully automated quote-to-bind flow helps deliver instant or near-instant quotes, accelerating conversion rates.
Best Practices
- Dynamic Pricing Engines: Build or integrate a rules-based pricing module in OutSystems so quotes can be calculated in real time.
- Automated Underwriting: For straightforward products (e.g., standard auto or homeowners policies), use visual workflows in OutSystems to apply underwriting rules automatically, routing only complex cases to a human underwriter.
- E-Signatures and Online Payments: Incorporate e-signature and payment gateways directly into your aggregator workflow, allowing customers to bind coverage on the spot.
Key Takeaway: An automated, end-to-end aggregator pipeline—powered by OutSystems—improves speed and customer satisfaction, leading to higher close rates.
Maintain Pricing and Product Consistency
Why It Matters
Aggregators often compete on price, but insurers must balance competitive pricing with profitability and regulatory compliance. Without robust controls, you risk inconsistent pricing across different platforms or offering outdated products.
Best Practices
- Centralized Rating and Product Definitions: Store product rules and rates in a single OutSystems module. Any changes—like new discounts or coverage features—automatically propagate to all aggregator integrations.
- Version Control: OutSystems’ built-in versioning ensures you can roll back pricing changes if needed and provides an audit trail for compliance reviews.
- Automated Synchronization: Schedule scripts or real-time events to push new rates or product details to aggregators. This avoids manual updates and reduces mispriced quotes.
Key Takeaway: Centralizing and synchronizing products and rates with aggregators maintains consistency, competitive edge, and compliance across all channels.
Prioritize Compliance and Data Security
Why It Matters
Aggregators handle sensitive personal and financial data, which is subject to strict privacy regulations (e.g., GDPR, PCI DSS). Non-compliance can result in heavy fines and reputational damage.
Best Practices
- Role-Based Access: Implement OutSystems’ user and role management to ensure only authorized personnel can view or edit confidential aggregator data.
- Encrypted Data Storage and Transfer: Use HTTPS/SSL for data in transit and AES-256 (or equivalent) for data at rest. OutSystems natively supports secure encryption methods.
- Compliance Checkpoints: Insert automated compliance checks at key stages—e.g., verifying privacy consents before generating a quote or capturing payment details.
- Detailed Audit Trails: OutSystems’ logging features make it easy to record every action, who did it, and when—a vital element for demonstrating regulatory adherence.
Key Takeaway: A secure, compliant aggregator management process protects both your customers and your brand reputation.
Provide Self-Service Tools for Aggregators
Why It Matters
Aggregator platforms need up-to-date information on products, pricing, and promotional offers. If they rely on you for every minor update, inefficiencies and delays creep in.
Best Practices
- Aggregator Portal: Create a dedicated portal in OutSystems where aggregator partners can log in, view current products, and even request new coverage lines or promotional campaigns.
- Automated Feedback Loops: Let aggregators submit feedback or report issues with data, bridging communication gaps and speeding resolution.
- Reporting and Analytics: Offer dashboards that display conversion rates, top-selling products, or user demographics so aggregators can optimize their listings.
Key Takeaway: Empowering aggregators with self-service features fosters cooperation, speeds updates, and builds stronger relationships.
Integrate Analytics for Continuous Optimization
Why It Matters
Simply publishing products on aggregator sites isn’t enough. You need to track how they perform—how many leads convert, which coverage lines are popular, and where potential customers drop off.
Best Practices
- Real-Time Performance Dashboards: In OutSystems, create a unified dashboard tracking aggregator-specific metrics—quote requests, conversions, average premiums—so you can identify issues or opportunities immediately.
- Predictive Insights: Combine aggregator data with AI or machine learning models to forecast shifts in demand or detect fraudulent patterns.
- A/B Testing: Continuously test pricing tweaks, promotional messages, or layout changes to see which combination yields the highest ROI, adjusting your approach in near real time.
Key Takeaway: Data-driven insights let you refine aggregator relationships and product strategies, ensuring sustained success.
Scale with Agility
Why It Matters
As your business grows, you may integrate with more aggregator sites, launch new product lines, or enter new regions. A rigid system can’t keep pace with fast-changing aggregator demands.
Best Practices
- Modular Architecture: Build aggregator integrations as independent modules in OutSystems, so you can quickly onboard new partners or update existing ones without disrupting core functionalities.
- API-First Strategy: Publish secure APIs to expose your quoting engine, policy admin, or billing services—making it easier for aggregators and new channels to connect.
- Continuous Delivery: OutSystems’ low-code approach allows for rapid development, testing, and deployment, supporting frequent updates without heavy operational overhead.
Key Takeaway: A scalable, modular OutSystems framework lets you easily expand aggregator partnerships and evolve your digital ecosystem.
Conclusion: Delivering a Competitive Edge in Aggregator Management
Managing multiple aggregators effectively is a key differentiator for insurers seeking wider market reach and higher conversion rates. By centralizing data, automating workflows, prioritizing security, and embracing real-time analytics, you can deliver fast, accurate quotes while maintaining pricing consistency and regulatory compliance.
OutSystems’ low-code platform is particularly well-suited to these requirements, enabling rapid development, easy integrations, and scalable deployments that keep you ahead of shifting market dynamics.
How RST Can Help
At RST, we’ve helped insurers harness OutSystems to streamline aggregator management—reducing complexities and accelerating quote-to-bind processes. We offer end-to-end support, from design and integration to ongoing optimization, ensuring your aggregator strategy stays agile and future-ready.
Ready to transform your aggregator management approach?
Contact RST today and learn how our low-code expertise can help you centralize, automate, and scale your aggregator ecosystem—giving you the competitive edge in a rapidly evolving insurance landscape.
