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Reinsurance Component

 

Claims Management

 

Authorization

 

Rating Engine

 

X-Vision

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 













Insurers are under pressure to provide better customer service, faster quote generation and launching of new products on time.


In policy administration systems where the business rules and rating parameters are hard coded, the system user faces lot of problems.  The user firstly, does not know the programming language in which the system is written. Hence specific skill-sets are required for the person to add new product parameters or make changes to existing ones.

 

Also since the parameters are hard-coded it is not easily customizable. This calls in for a lot of rework including compilation, testing and deployment. 

 

Hence an independent Rating Component, which is user friendly and flexible and does not require programming knowledge by the user, is needed.

 

The NTT DATA FA Insurance Systems Rating Component is a stand-alone component for life/health and property & casualty insurance systems.  This component can be interfaced with a Quotation System or a Policy Management System to generate quotes.  The Rating Component will evaluate the information for a submitted risk and calculate the premium for the requested coverage.  The calculation results are presented in the quotation generated by the agent or the client.

 

 

Key Benefits:

  • Leverages the knowledge and work of product managers and actuaries
  • Easy-to-learn, easy to use
  • Eliminates time and errors in the transfer of knowledge between product manager and IT
  • Greater accuracy and product agility
  • Develop according to marketing needs only, without concern over technical limitations
  • Significantly faster and lower-cost product development
  • Scalable to manage enterprise internet loads
 
 
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