Growing competition, increasingly educated customers and complex regulations are a real challenge for insurance organizations today.
The Dassault Systèmes Insurance Central solution provides insurance product development teams the ability to drive the entire life cycle for insurance product creation, implementation, maintenance and decommissioning.
As new insurance products are developed, rates and rules are established, processes are documented and key stakeholders are guided through a fully collaborative workflow to ensure the program stays on-track with the required approvals. This rigor is key considering today's complex web of regulatory compliance issues which demand that all workflow and product information be housed in a fully auditable platform with full visability to all documents, actors and processes.
Core to Insurance Central is a data repository for all life, health and property products. This repository is a crucial component in a service-based insurance processing environment because it enables standardized product definitions and rules which can be shared with other core insurance systems. Operations ranging from underwriting, product development and pricing to marketing and customer retention can get significant value and insight from this single source of truth.
Similarly, existing products can be rapidly customized, allowing new offers to be quickly introduced to the market with all product collateral immediately available to underwriters / agents / brokers and financial advisors to accelerate time to sales.