True speed to market is enabled through Enterprise Product Agility: the ability to sense changes in consumer needs and market demands and the flexibility to react quickly and cost effectively with relevant, profitable products. Camilion offers two innovative solutions for insurance and financial services organizations that enable enterprise product agility and drive speed to market: Authority Suite® and ProductAuthority®.
Authority Suite® - the insurance industry's most product-agile P&C Policy Administration System
Authority Suite®, supports the entire policy lifecycle including application data capture, qualification, rating, quote management, bind, issuance and all policy endorsement functionality. Featuring a consolidated underwriting workstation and straight through processing to make you easier to do business with, Authority Suite is powered by Camilion's ProductAuthority®. ProductAuthority creates enterprise product agility by externalizing all product data and rules from multiple, hard-coded systems into a central repository, where products can be easily configured and modified. Leveraging a Service-Oriented Architecture and built on a modern rules and tools-based technology platform, Authority Suite easily integrates with other best-of-breed systems.
Its modern, role-based UI can be customized and makes it easy to navigate policy administration transactions and enter data quickly. With out-of-the-box reporting, Authority Suite enables business users to track key performance indicators and create management reports.
Authority Suite® is a single solution for all P&C lines of business and it supports the entire policy administration lifecycle. It includes product configuration, an underwriter workbench, and a product management "desktop" called Lifecycle Manager that lets insurers manage and track all tasks and participants involved throughout the product development process.
Authority Suite® offers the following benefits:
- Lowers system maintenance, underwriting, and product development costs.
- Lets insurers respond quickly to changing market conditions with relevant, profitable products.
- Automates consistent and efficient underwriting processes to decrease underwriting cycle times.
- Increases revenue by enabling underwriters to focus on writing more profitable business.
- Enables insurers to develop and launch new products concurrently and eliminate product development bottlenecks.
- Improves producer loyalty by making it easier for them to do business with insurers.
ProductAuthority® - an innovative product development and management solution for P&C and L&A insurance, investments and banking
Enables Enterprise Product Agility by allowing organizations to create the right product at the right price at the right time. With ProductAuthority, you can develop products concurrently to enhance revenue; automate manual processes to reduce costs and create audibility; dynamically bundle products to create greater customer value; and get quality products to market up to 30% faster.
ProductAuthority also includes Lifecycle Manager which automates product development and provides a Web-based view into the process, enabling the tracking and management of all participants and tasks to facilitate effective collaboration and eliminate bottlenecks.
ProductAuthority externalizes product definitions from multiple, hard-coded operational systems into a central repository where product components can be easily inherited to modify existing or develop new products-in weeks not months. Product definitions include reusable information such as eligibility, packaging, underwriting rules, rates, calculations, and forms management.
Unlike business rules or rating engines, ProductAuthority is a "true" product configurator that capitalizes on the combined strengths of rules, rating and calculation engines, making it possible to apply these capabilities to actual products; interdependencies between product ratings and product rules are easily managed. ProductAuthority offers the following benefits:
- Increases revenue potential by enabling product agility to respond quickly to market conditions.
- Accelerates speed to market through an automated, streamlined, and repeatable product development process.
- Ensures product quality by enabling products to be tested thoroughly prior to launch.
- Eliminates bottlenecks and efficiently balances workloads to minimize delays within the product development process.
- Enables trained business users to make simple product changes in days, not months, by inheriting or reusing product components.
- Dramatically reduces technology maintenance and product development costs and lessens dependency on IT resources.
Complete Solutions for Insurance and Financial Services
Our solutions enable product agility and drive speed to market. Authority Suite and ProductAuthority are designed for Life & Annuity and Property & Casualty insurance, investments and banking to automate the product development process, empower business users to make product changes more easily, replace out-of-date policy administration systems, launch new lines of business or integrate technology solutions to capitalize on market opportunities.
