DOWNLOAD PDF- Enabled data validation edits and interactive product validations during the interview process.
- Set up a workbench for users to configure product, rating & rules, removing IT dependence.
- The solution was tested to scale to 10 million transactions with more than 1000 users.
Business Situation
The Client, is a leading insurance company providing insurance to Educators, Nurses, Firefighters and Peace Officers.
The Client was undertaking a transformation of its IT systems to better align with the needs of its agents, affinity partners and insureds.
To align with this vision, the CIO embarked on an end-to-end system replacement program with SOA as a foundation to enable the Carrier implement new solutions and strategies in a faster, simpler and more cost-effective manner.
Challenge
Product definitions, rules, rating logic existed in Product and Rating Manuals at this Carrier. This posed time and cost challenges to effect changes.
The client sought to establish a central Product repository.
The client also sought to establish a central Rating Engine which could accurately and consistently automate Rating for multiple Products, across multiple Product Lines and Transactions.
Solution
ValueMomentum configured and implemented the iFoundry Solution for Rating and Product Configuration. This solution supported:
- Product definitions and Product eligibility.
- Product, option & feature availability check.
- Tiering, classification rules.
- Assignment rules, referral rules.
- Stipulation rules to determine preventive measures.