Camilion Solutions, a provider of product development and policy administration systems to the insurance industry, has announced its latest release of ProductAuthority with features that will enable insurers to accelerate the development of products. This new release offers support for IBM's Insurance Application Architecture (IAA) model, which supplies product definition templates based on insurance best practices. The solution has product comparison capabilities that enable users to compare specifications for any two products in ProductAuthority's central repository. Enhancements to the solution's rule-building functionality also allow an insurer's product analysts to create product rules and test their impact on consuming systems, such as underwriting and claims, before a product is launched.
"Leading insurers, especially in the life and annuities markets, are under tremendous pressure to deliver innovative products that respond to the demands of their sales channels and customers," says Ross Orrett, president and CEO of Camilion Solutions. "This new functionality in ProductAuthority will enable our customers to accomplish this faster and more efficiently than ever, especially those who utilize IBM's IAA model."
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