Product builder
A product is assembled from coverages, a rating plan, a questionnaire and lifecycle rules. The methodologist changes a factor or adds an option on their own, with no task for developers, and each product version takes effect from its own date without changing policies already issued.
Plan All plans. Starter allows up to five products and three lines of business.
What is inside
- Eleven lines of insurance with their own fields: MTPL, motor hull (KASKO), property, travel insurance, voluntary health insurance, cargo, liability, borrower insurance, term and savings life, annuities
- Coverages, sums insured, limits, deductibles and options with loadings
- Four kinds of rating plan factors: multiplicative, additive, tabular and calculated, with minimum and maximum corridors
- Multidimensional factor tables uploaded from XLSX: bonus-malus, territory, age and driving experience
- Questionnaire builder: eight field types, display conditions, translations. One questionnaire works in the back office, the client portal and the partner widget
- Rules for cancellation, changes, renewal, overdue premiums and the list of claim documents
- Document templates in DOCX with merge fields and a document language
- Product versions: draft, review, published, withdrawn from sale
- Test premium calculation on a product version before publishing
- Calculation log: every premium calculation can be traced step by step
Conditions
Ready-made products for each country’s compulsory lines are built in the builder during implementation. Statutory MTPL base rates for Mongolia are already included in the delivery.
These parts of the module are on the product roadmap. We confirm timing and scope during implementation.
- A/B testing of rating plans
- Product cloning and inheritance
Frequently asked questions
Do we need a programmer to change a rating plan?
No. The methodologist changes factors, tables and corridors in the interface. The change is issued as a new product version with an effective date, and policies already issued are calculated on their own version.
Can we test a product before it goes on sale?
Yes. A test calculation shows the premium for a draft version on test data, and the calculation log breaks it down by factor. Publishing goes through a separate review step.
Are regulated rating plans supported?
Yes. A rating plan works in one of three modes: strict regulation, a corridor of allowed values or free pricing. Statutory limits are set for compulsory lines.
Use cases with this feature
Other features
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.