PASS_Products is the the core module of PASS_Insurance, the product configurator and rating engine
PASS_Products allows the effective evolution of your product definitions, including changes to rate tables, underwriting rules, and algorithms of all lines of business.
It improves the rating sophistication and granularity to target new market opportunities.
PASS_Products is available as a standalone rating engine, or as part of the PASS_Insurance Suite.
PASS_Products answers to IDD (Insurance Distribution Directive) and POG (Product Oversight Governance) requirements. POG is part of IDD regulation, a set of European requirements related to the manufacture, oversight and governance of insurance products, for both manufacturers and distributors of insurance products.
In 2021, PASS_Products is being reviewed that will be release in the next future. The new release will centralized configuration and modules; the architectural model will be based on micro-services; the deploy model will be the Cloud, following the cloudification process of RGI suite; the new offering will be in Saas mode.
We are currently evolving the user interface of PASS_Products towards a full-web cloud-based solution. A first release of this new version will be available in Q1 2022.
The main key enhancement will be:
- A welcome dashboard to monitor activities and identifies priorities
- Increased reusability of products components
- Modular approach to build products
- Selective deploy for specificproduct configurations
- Collaboration workflow between business and technical users for approval and deploy of products and tariffs created by business users
- Chatbot to drive entry-level users in the product configurations