in'Policy Administration for Life and Annuity

Overview

VALOORES in'Insurance Policy Administration for Life and Annuity is a highly-flexible, rules-based policy administration solution that supports policy issue, billing, collections, policy processing, and claims in a single system. Leading insurance companies worldwide use VALOORES in'Insurance Policy Administration for Life and Annuity to accelerate product development and reduce time to market, improve operational efficiency through centralized policy management and record keeping, and better service their customers and sales channels. The system’s support of SOA, business process management (BPM), and master data management (MDM) technologies allows insurers to consolidate tangled business processes and siloed customer data into cost-effective, transparent, and highly effective business processes. VALOORES offers proven tools and migration methods, along with experienced, highly trained insurance domain and technical personnel and a strong partner network, to help minimize the risk and ease conversions from legacy systems.

Key Features

  • Highly flexible, rules-based configuration, separate from system’s core code, speeds creation and launch of life insurance and annuity products.
  • Product cloning capabilities promote reuse of rules and decrease development time for new products.
  • Transaction-level testing through business rules supports quality assurance by improving accuracy and providing audit trail for compliance.
  • Release management tool provides visibility, control and management of rules migrations and standards.
  • Multi-language and multi-currency support in single instance of system helps regional and global carriers comply with localization requirements.

Key Benefits

  • Leverage a single system to support multiple lines of business and products for improved operational efficiency and reduced total cost of ownership.
  • Bring new products to market faster through collaborative product development by your business and IT resources.
  • Configure changes using business rules, without the need to customize or recompile system’s core code.
  • Increase product development flexibility using configurable business rules to create complex features and add riders.