ULTIMA is a fully integrated insurance system encompassing the full policy lifecycle from Quotation, Underwriting, and Renewals, through to Claims and Accounting.
The rating structure of any insurance product can be modelled and maintained. Multiple Insurance products can be created using the templates, then maintained and copied as required, effectively ‘cloning’ insurance products. Complex business rules can be built, supporting specific business processes. The rules governing workflow and diary management can be created and easily maintained.
Business Configurator provides organisations with the freedom to launch new products and develop their business into new markets with the confidence that their IT solution will fully support this.
The diversity of existing implementations illustrates how both standard and non-standard business lines are accommodated, allowing insurers the freedom and flexibility to combine both mass market and niche offerings from a single technology solution, thus realising the combined value and control that our products deliver.
All Business Configurator changes are data driven – hence no software changes are required. The business configuration changes are captured as projects in a “configuration” environment and then promoted en masse to testing, training and production environments.
Promotions can be made in advance of the requirement and will automatically ‘switch on’ at the appropriate date. Promotions to new environments do not require the environment to be brought down or its use suspended.
As a result of its functionality and flexibility, Business Configurator almost negates the need for any traditional development activity to implement deep and complex changes whilst guaranteeing the integrity of the core system.