Improved Suite Helps Insurers Meet the Growing Demand for Mass Customized Insurance Products
ORLANDO, FL May 19, 2003 – Camilion Solutions, Inc., the leading supplier of Enterprise Product Management (EPM) solutions to the financial services industry, today officially introduced its Insurance Innovator 3.0 Suite of EPM products. Developed over the past two years, Insurance Innovator� reflects the talents of a seasoned team, whose many years of experience in creating and implementing insurance industry solutions are realized in this elegant suite.
“Insurance Innovator frees product managers from long, legacy systems-based product development cycles by improving their ability to respond quickly to changing markets across multiple business channels with real-time product updates, thereby gaining competitive advantage,” said Chris Hoar, president & CEO, Camilion. “Insurers are recognizing the need for a system that offers improvements to both the overall business processes and individual tasks and activities that make up today’s complex insurance underwriting and distribution environments.”
Camilion’s Insurance Innovator™ Suite
Insurance Innovator has three main products – Product Configurator, Product Services and Product Process Manager – which are tightly integrated ‘behind the screens’ and are displayed through a workflow-specific, user-friendly interface.
Together, the three products enable underwriters, actuaries, business analysts and others tasked with product lifecycle responsibilities to deliver mass-customized products designed for multi-channel deployment, based on flexible business processes and consistent product management rules. With Insurance Innovator, ‘best practices’ EPM across a product’s entire lifecycle is finally a reality.
- Insurance Innovator™ Product Configurator
The Product Configurator allows the product manager to create customized products for specific markets, specify state, industry and channel variations and test product rules. Product definitions are stored for easy re-use and reconfiguring in a product catalog within the Configurator. Coupled with Camilion’s Product Process Manager, this component essentially forms the product manager’s workbench.
- Insurance Innovator™ Product Services
Product Services is the connectivity layer between the product repository managed in the Product Configurator and existing enterprise applications. In addition to providing access to information from the product repository, Product Services also integrates with other enterprise components and systems, and acts as the central hub for all product-related requests.
- Insurance Innovator™ Product Process Manager
The Product Process Manager provides capabilities to craft product-related business processes, specifically tailored to the needs of a given product, in record time. It utilizes the Product Services layer to dynamically tailor sales and service processes based on information in the product repository. It has extensive data integration capabilities to ease the job of integrating product processes with legacy systems.
Insurance Innovator is built on a high-performance, scalable architecture based on J2EE™ and designed to fit a firm’s long-term IT strategy through easy integration with other applications and existing enterprise solutions. Insurance Innovator is third party technology independent and will operate on most platform and software combinations.
About Camilion Solutions, Inc.
Camilion Solutions, Inc. is the leading provider of Enterprise Product Management solutions for the insurance industry, enabling insurance companies to quickly and efficiently launch new products into target market segments and manage the increasing complexity and proliferation of product features across multiple channels, without having to replace existing legacy systems. Founded in 2000, Camilion Solutions, Inc. is a privately owned, venture capital funded corporation headquartered in Toronto, Canada. For more information about Camilion and its products and services visit us at www.camilion.com.