The BOLT platform is the newest technology for the digital transformation of distribution channels. It is the technology behind enterprise distribution transformations, state insurance clearinghouse platforms, and many other digital transformation platforms across property and casualty products including auto, home, specialty, and commercial lines.
BOLT’s platform is made up of many underlying modules that provide access to existing or expanded insurance markets through licensed experts, streamlined processes and scalable technology.
High Level Overview of BOLT Platform
Configurable Micro-Services and Integrations
The platform is fully configurable by leveraging micro-service API’s, and an internal workflow engine, with over 6,000 extensive carrier, LOB, and state direct integrations. BOLT platform supports Online Direct, Contact Center, Agent Networks, and Affinity channels for a comprehensive view and solution ownership of each customer.
BOLT Platform has rules-based interviews that configure themselves on the fly to minimize and/or customize the interview process for any product. This flexibility and agile approach enable a consistent quote, bind and service platform for all product types. The platform is efficient and effective when either processing in the field as an agent, over the phone in a call center, or even a when a consumer is self-quoting online.
BOLT Platform Architecture
The BOLT platform is designed with scalability, stability, security and resiliency as the main design features:
Question set & process is generated and managed by IBM ODM rules engine
BOLT Platform UI – fully responsive design based on Angular, Redux and web API technology
Entire process is achieved through platform microservices
Data Warehouse support for Reporting and Advanced Analytics
BOLT’s approach to information security is part of its services to leading insurance industry organizations conforming to their stringent security requirements
BOLT is certified under the ISO 27001 standard
With over 4.5 billion in premium quoted annually, and over 20,000 licensed agents using the platform, BOLT X is the newest, most successful Digital Distribution Platform in the industry.
The BOLT Platform enables a multi-channel, multi-product and a choice shopping experience for both personal and commercial lines that allows customers or members of the distribution channels to shop a policy via a side-by-side comparison and also purchase and service the insurance on a single platform.
The BOLT Platform has been designed to enable quote results from multiple providers rapidly. Also, the BOLT Platform is designed to align with the way that you conduct your business perfectly. Rate presentation is one of those areas within the BOLT Platform where business rules are configured to ensure that how quotes are presented facilitate any business rule in place.
3rd Party Data Prefill
The BOLT Platform supports 3rd party data calls via APIs through any part of the application process. The infrastructure and UI of the BOLT Platform support easily adding any number of data providers.
All data mapping and business rules are stored, controlled and managed within the BOLT Platform by the Operation Decision Management (ODM) system, an IBM rules engine. This engine allows us to not only manage the business data offline but also to dynamically impact and improve the user experience by examining eligibility during the real-time interview.