Launching a new product
A product methodologist builds the product, checks the calculation and publishes it to all sales channels.
Situation
An insurer brings a new property insurance product to market. This used to take weeks: writing a task for developers, testing, separate setup of the website and the agent channel.
How it works in the system
- 01The methodologist creates a product and a version in the builder and sets coverages, sums insured, limits and deductibles
- 02The rating plan is built from factors, and factor tables are uploaded from XLSX
- 03The questionnaire builder defines fields, display conditions and translations into the required languages
- 04Rules for cancellation, changes and renewal and a DOCX policy template are added to the version
- 05A test calculation checks the premium on test data, and the calculation log shows every factor
- 06After review, the version is published and becomes available in the back office, the client portal and the partner widget
Result
The product is launched with no tasks for developers. One questionnaire serves all channels, and a rating plan change is issued as a new version with an effective date.
Features in this use case
Product builderAll plans. Starter allows up to five products and three lines of business.
Policy administrationAll plans.
Client portalAll plans.
Shall we show the system on your products?
We will build your product in the builder, take a policy from quote to claim and estimate the implementation cost for your lines of business and countries.