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Enterprise decision management system for leading insurance firm
ValueMomentum assisted Client build a robust enterprise decision management system for use in multiple lines of business introducing flexibility, innovation and speed-to-market

Industry
Insurance

Client
Leading insurance company in India

Needs addressed
Product Definition and Configuration,Business Rules Management System (BRMS)

• The company is one of the top general insurance companies in India. With the growing business volumes, de-tariffication, intense competition, and various channels and systems of policy issuance and servicing, there was a need to have a single consistent Enterprise Decision Management system for the evolving underwriting and rating requirements. In the absence of such a system, business guidelines were being maintained in multiple systems in a programmatic or database driven manner, and duplicate efforts were required to update the changes to guidelines, or new guidelines.
• ValueMomentum helped the client successfully undertake and complete an initiative to externalize and consolidate their business policy decisions (related Underwriting and Rating) for multiple product lines. Externalization has helped create a single version of truth for all underwriting and rating decisions. The client achieved this by making a strategic investment in FICO (formerly Fair Isaac) Blaze Advisor Business Rules Management System.

Technology Solution delivered
Business Rules Management System (BRMS),Application Maintenance & Transformation

Overall solution can be broken into following steps:

• The business policy decisions for over 15 products across Motor, Health, Travel, Home and SME Lines Of Business (LOB) have been externalized and implemented as business rules in the BLAZE ADVISOR BRMS (from FICO). This system is referred as the Enterprise Decision Management system (EDM).
• The EDM system provisions for various business services – eligibility, authorization, quotation services, in the form of XML based Web Services.
• EDM returns a decision with respect to eligibility, authorization (underwriting) and rating (quotation) to the calling application.
• The consuming applications include the Core Policy Admin System, Portal System and Premium Calculators.
• As needed, Microsoft Biztalk middleware is utilized for integration.
• The approach taken in this initiative is to externalize the business policy guidelines to a business rules driven external system.
• BRMS technology is leveraged for externalizing the business rules. Rules Management Application (RMA) is provided for manage the rules without need of any programming changes. Changes are done rapidly, and in one system, thus ensuring a single version of truth.

Execution model
At site, Fixed price Contract

Technologies used

SYSTEM	TECHNOLOGY	COMMENTS
RPAS (POLICY PROCESSING)	MICROSOFT .NET APPLICATION	CORE POLICY SYSTEMS
PORTAL	MICROSOFT SHAREPOINT APPLICATION	CUSTOMER AND AGENT PORTAL
EDM (ENTERPRISE DECISION MANAGEMENT)	BLAZE ADVISOR	RULE ENGINE
MIDDLEWARE	BIZTALK	ENTERPRISE SERVICE BUS

Benefits delivered

• Improving market share
  • With the new system, the company is able to implement quick & consistent changes to the policy guidelines. The decisions are monitored and rules fine-tuned. This results in an overall healthier portfolio driven by automated consistent underwriting and rating decisions.
• Cost savings
  • Overall cost savings are in terms of:
  • Better and consistent decision making
  • Lower maintenance costs – one time change of rules
  • Higher productivity – with availability of tools like premium calculators
• Improving customer service
  • Policy processing will be faster as decision from underwriters is system driven. This would lead to better customer satisfaction.
• Employee Productivity
  • Systematic decision making has enabled reduced exception processing, thus enabling better employee productivity.

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