Insurance policy system - Faktor-IPM
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.
- 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
- 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