Streamline Product Development, Accelerate Speed to Market

In today's increasingly competitive insurance market, the ability to launch new or refreshed products in record time and manage products over their entire lifecycle gives insurers a decisive advantage over their competitors. This competitive edge translates into increased revenues and above-average growth. 

Improving speed to market and effectively managing the product development lifecycle is a strategic imperative for every insurer. A flexible, open solution, ProductAuthority®, Camilion's product development solution, designed specifically for the insurance industry can be used; across your entire enterprise, in your product development department or for a single line of business.

Separating Products from Processes

ProductAuthority independently manages the complete product definition including market eligibility, packaging, underwriting rules and forms management - not just pricing or calculations - to provide a single, consolidated source of the "truth" for an insurer's products. ProductAuthority separates products from processes by using a central repository to separate all product information from the business applications used to execute transactions. Because all existing products, their components and the business rules that surround them can easily be reused, speed to market is dramatically increased.

Built to capitalize on an open Service-Oriented Architecture (SOA), ProductAuthority adheres to industry standards making it easier for insurers to consolidate product information, manage products and leverage existing enterprise applications. Products are exposed as Web Services in ProductAuthority and can be integrated with virtually any "product-involved" legacy application such as underwriting and policy administration.

Refresh Products in Days, Implement New Products in Months

• Camilion brings a fresh approach to help insurers accelerate time to market. The key is separating products from processes by consolidating all product information scattered across your enterprise into a central repository. 
• ProductAuthority allows insurers to develop a common product chassis where they can make product changes, like adding new coverage parts, quickly to accelerate the development of new products to meet consumer and distributor demands.
• The solution also incorporates a Product Manager's Workbench which automates laborious, high-touch processes - giving product developers more hands-on control, and providing dashboards for metric tracking and reporting.
• Not only can insurers dramatically streamline product design, testing and implementation, they can also enhance collaboration between stakeholders including product management, underwriting, actuarial, legal, compliance and marketing.
• The result is a flexible, product-aware infrastructure that helps insurers to effectively manage the product development lifecycle from cradle to grave, promoting product agility and supporting future growth.

ProductAuthority Helps You:

• Accelerate time to market through an automated, streamlined, consistent and repeatable product development process. 
• Increase revenue potential through your ability to respond more quickly to market conditions. 
• Reduce errors and overall product risk through the consistent application of business rules.
• Thoroughly test products prior to launch to ensure product quality.
• Increase product development capacity by providing product managers and business users with modern tools that automate processes and reduce the technical complexity associated with implementing products.
• Dramatically reduce technology maintenance costs and lessen dependency on IT resources.