What was the scope of their involvement?
Debut Infotech developed an Android and iOS app for us. Its backend was already in place, but we wanted to build a server-side component that would work with both mobile apps. The product will be used by our insurance agents and salespeople, not our customers. The aim is to create a streamlined process for our internal team to track sales and client connections.
The scope included the development of the mobile apps, their user interfaces, and the server-side component. Our salespeople have login IDs, and they can use the dashboard to set up meetings with prospective clients, enter policy and contract details, and input know-your-customer (KYC) information and photos. It’s an online automation process for insurance policy management.
Insurance agents can see how many policies they’ve created, how many commissions they have accumulated, and so on. It’s a data process, with no payments or other functionalities. I would describe it as an internal CRM.
What is the team composition?
I oversaw the project, but one of our internal IT people was involved more closely. I approved demos and functionalities, working directly with Debut’s business analyst and one of their developers. Their project manager was involved, but the business analyst handled day-to-day tasks.
How did you come to work with Debut Infotech?
We shortlisted eight vendors, including Debut. They were introduced to us by a consultant. We checked their portfolio and went through a three-week screening process, during which we talked to all the vendors and invited them to our office for a demo. We had different criteria, including the candidates’ major past work, their knowledge, their ability to work with systems like ours, and their experience in the financial domain. We also considered the thought process behind the solutions they were proposing to us.
We chose Debut based on their presentation. One of their team members had worked on fintech products. We didn’t provide a lot of information in the beginning, but they had a good thought process. The price was good, given that we could work on an Agile, monthly basis and that they could support us. All these factors reassured our board members, so we engaged them for a proof-of-concept, followed by the complete project.
How much have you invested with them?
Until now, we have invested between $700,000 and $800,000 in their work. The overall project is estimated at $2 million.
What is the status of this engagement?
We started working with Debut in March 2017. The first version was launched in August, and the second one in December. Version three will be launched in April. We have a three-year contract.