Product Rule-Engine For Policy Servicing
System built to handle all the complexity of features and calculations of an insurance product.
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Overview
Insurance products are increasingly becoming complex with additional features and benefits. Configuration of such rules takes a long time and sometimes activities are even pushed to later days due to paucity of resources and time.
Our rule engine is built to solve various such issues a company faces. The rule engine is built such that any new product can be configured within 2-3 days. Moreover, all the calculations and rules are defined at event level hence one can choose to configure only a limited set of rules or all the rules as well
This tool can easily be integrated with any other external system through APIs.
Key Differentiators
Configure any new product within 2-3 days
Product rule configuration for new business and policy servicing is a big activity and takes several man-days. Our system has configurable panels to handle all the activities within 2-3 man-days.
Fully API based integration
Our system can be easily integrated with any other system through APIs. For each activity, API is created and one can use that to easily access the calculation.
Can be used as an audit tool as well
It can easily be used as an audit tool for checking every single calculation. A fully automated audit tool which can run daily batches for required activities.
Functional experts can use – Increased efficiency
Our configuration panels are built for functional experts; no need to block any technical bandwidth. It is efficient and more accurate.
Ease of configuration
Configuration is very easy thorough auto-configured rules and panels. Moreover in-built functions and keywords help handle complex calculations at the click of a button.
Bussiness Values
Every single time a new product is launched. Our system goes a step further and builds APIs as well for other possible integration requirements.
Faster product launch gives larger window for distribution of products resulting in more sales.
APIs help you empower distributors and partners with capability to service policies on their platform.
Speed of execution, ease of integration helps to be ahead every single time. It can be extremely useful in acquiring new relationships as well.
It can also act as a full proof, automated audit tool to check every single calculation for already exiting rules.
Platform Capabilities
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