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Metalogic Case Studies, Presentations & Datasheets and White Papers.
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| You are here: Home > Products > INSURANCE APPLICATION GENERATION FRAMEWORK |
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| INSURANCE APPLICATION GENERATION FRAMEWORK |
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Information Technology as a change enabler and growth driver assumes a significant role in the insurance market as Property & Casualty Insurers are faced with an increasingly dynamic business environment marked by shifts in customer preferences, demands of the market and the critical need for pricing transparency.
Insurers have been investing approximately 15-17% of their IT operating and capital budgets on software, much of it on industry-specific applications around policy administration, underwriting, rating, claims management, and disbursements. Build-and-customize continue to capture a big part of overall IT budgets.
Metalogic offers ready insurance domain solutions for General (automobiles, property & household, liability, etc.) and Health (Life & Micro) Insurance services.
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Metalogic Insurance Framework® is the result of an almost 4 year R&D effort at Metalogic and represents an investment of approximately Rs. 40 Million. This product is an application code generator for insurance carriers, allowing companies to generate its own insurance application based on the dynamic logic of the product offerings supplied by the user through an easy user interface. MLS Insurance Framework provides a strategic and comprehensive solution to address the dynamic requirements in terms of product offerings to insurance carriers operating in the Property & Casualty (P&C) marketplace
The Insurance Solution at a Glance
Metalogic’s Insurance offering includes a set of automated tools which generates fully customized application software for the individual carrier. The automated tool has five components – Configuration Manager, Screen Painter, Rating Engine, Rules Writer and Generator. Along with this set of automated tools, an application framework is an inherent feature of the system architecture. This application framework provides facilities to perform four major transactional activities to the insurance carrier – Policy Administration, Claim Management, Reinsurance and Billing.
MLS Insurance Framework has received a highly encouraging response when it was introduced in the US market in 2007 by Trumbull Services LLC, then a 100% owned subsidiary of The Hartford Financial Services Group.
With the tools allowing for configuration of rates, rules and user interfaces very fast, and the framework supporting all related business functions, Metalogic has demonstrated the effectiveness of the offering by implementing fairly complex personal and commercial lines of business in 4-6 months on an average. While the solution is generic in nature, it offers complete custom database elements that fit specific carriers. The offering also stands out from the rest due to the fact that major business processes such as data entry, rating, quote, issuance, endorsements, etc. are intuitively offered by the framework within a single application and its ability to deliver multiple lines of business by a single application. The generated insurance application in offer is J2EE application (Java/JSP) that is readily deployed on any modern application server and support either Oracle or DB2 UDB as the backend database out of the box.
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