Insurance policy system - Faktor-IPM

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Overview

Faktor-IPM - a powerful policy system based on Java EE architecture

We developed Faktor-IPM together with our customers to ensure that the solution is aligned to the needs of the insurance industry. Our policy system specializes on the administration of non-life policies. It has a wide range of functionality and end-to-end reference models for property, liability, accident and automotive insurance (adapted to the requirements of the German market.)

Standard vs. flexibility – our solution provides both!

With Faktor-IPM contracts can be managed efficiently and new products can be brought to market quickly. The integrated product system Faktor-IPS allows you to freely model products and contract structures or adapt them to individual needs. At the same time, you can use the standard Faktor-IPM functions such as history management, billing, business transaction control, etc.

As part of the Faktor-Zehn-Suite, Faktor-IPM can be seamlessly integrated with all Faktor Zehn products.

Key Features

  • pre-configured products, reference models, modern business transaction control and interfaces for non-life business
  • components for eVB and VWB for motor insurance, and compliance with current German GDV standard
  • all core functions of policy management (including history management, retroactive changes, pending administration, billing components, business transactions, persistence, multi-client capability, processes, delta determination, authentication, authorization)
  • joint modelling of product and contract structures
  • optimized user interface for efficient, qualified processing
  • flexible interfaces facilitate the integration into the existing IT landscape, so that interfacing systems may not need to be changed

Key Benefits

  • covers all insurance types: can be used for non-life, car insurance, commercial, industry and additional-health
  • scalablity: scalable thanks to JEE architecture
  • automation and shadow processing: high degree of automation and, therefore, shadow processing rate possible
  • speed and time-to-market: the integrated product system Faktor-IPS enables products to be available within a day
  • increased productivity: special tools and views for product manager increase productivity
  • total cost of ownership (TCO): Faktor-IPM's efficiency and performance benefits occur not only within the implementation project, but also during operations
  • simple integration: the innovative interface concept and service-oriented architecture means the integration into your system landscape can be done quickly and easily
  • 100 % Java: Java-EE-8 standard

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