MetaMorphoSys Product Configurator, Quotation/Rating & Rules Engine

A powerful engine for configuring innovative insurance products, providing unified rating across channels, and enabling quick product and pricing setup.

The MetaMorphoSys Product Configurator, Quotation/Rating & Rules Engine is a comprehensive solution designed to empower insurers in rapidly launching innovative products. It leverages existing vocabulary, rules, and templates to streamline the product creation process. The unified rating engine supports omnichannel distribution, ensuring consistency across all customer touchpoints. With its quick product configuration and pricing capabilities for various insurance lines, this tool significantly reduces time-to-market for new offerings while maintaining flexibility and compliance.

Feature List

  • Innovative product configuration using existing components
  • Unified rating engine for omnichannel distribution
  • Quick product and pricing setup for various insurance lines
  • Template-based product creation
  • Rule-based engine for complex pricing scenarios
  • Support for multiple insurance lines
  • Integration with distribution channels

Use Case Scenarios

  1. An insurer could use the engine to quickly launch a new hybrid life insurance product, combining elements from existing products.
  2. A multi-line insurer could implement the unified rating engine to ensure consistent pricing across their website, mobile app, and agent portal.
  3. An insurance company could leverage the quick configuration feature to adjust product pricing in response to market changes, maintaining competitiveness.

Functionality Overview

The engine functions as a central hub for product innovation and pricing management. It allows insurers to configure new products by combining existing elements and rules, significantly speeding up the product development process. The unified rating component ensures that pricing is consistent across all distribution channels, improving customer experience and reducing pricing errors. The rules engine allows for complex pricing scenarios, enabling insurers to factor in multiple variables for accurate and competitive pricing. The system's flexibility supports various insurance lines, making it a versatile tool for diverse insurance operations.

Screenshot

Demo Video