ProductAuthority® Lifecycle Manager
ProductAuthority® Lifecycle Manager is a web-based product management "desktop" that facilitates collaboration by automating and managing the tasks and key participants involved in the entire product development process. Lifecycle Manager helps insurers and financial services firms oversee the entire product development cycle to ensure that all key stakeholders, such as underwriters, IT, actuaries, legal, product managers, business system analysts, financial analysts, claims and marketing are included and notified throughout the process.
Lifecycle Manager helps:
- Reduce product development costs and improve product quality.
- Eliminate bottlenecks within the process to improve speed to market.
- Improve product delivery times by 30%.
- Increase revenue by developing and modifying products concurrently.
Key Benefits
- Provides visibility into the product development process to eliminate bottlenecks and balance workload.
- Provides instant access to all information, so that users don't have to chase down product-related information stored in spreadsheets, folders, e-mails, and fragmented systems.
- Facilitates collaboration and keeps all stakeholders informed throughout the product development process.
- Makes it possible to evaluate the status of all product-related requests immediately.
- Improves speed to market.
- Leverages information in the product repository to facilitate product configuration and testing.
Lifecycle Manager Features / Functionality at a Glance:
| Feature |
Functionality |
| Automated Workflows |
Support activities such as work assignment for new or change product requests including contract wording and form drafting and review, state filing package creation and review, and state (DOI) filing management. |
| Worklist |
Monitor all requests in the system; drill down to specific tasks and see at-a-glance which tasks are completed and which are still in progress. Provides visibility into the product development process enabling companies to identify and address any bottlenecks to balance workloads and minimize delays. |
| Centralized Product Repository |
Business users can access the central product repository to reuse or inherit product components to make simple product changes or develop new products - without IT involvement. Simplifies queries and collaboration during the insurance product development process. |
| Product Catalog |
A searchable library that contains "one version of the truth" for all published insurance products; it lets stakeholders access product components such as rules and rates in the product repository. Identify key features for re-use or modification across multiple products. |
| Product Compare |
Enables developers to identify key product features for re-use or inheritance across multiple products. Generate complete product specifications directly from the central product repository and compare published products to highlight differences between them. |
| Product Testing |
Test rules and rates to ensure that they behave as expected prior to launch. Product testing functionality that lets developers test products before they are integrated into downstream systems such as policy administration, billing, claims and print. |
| Reports |
Generate operational reports providing insight into the product development process to measure key metrics such as time to market, cost savings, staffing/resource levels, etc. |
| Product Specification Documentation |
Generate a complete product specification from the central product repository in PDF format that can be shared with key stakeholders across the organization ensuring all users have access to "one version of the truth" for product definition. |
