Exigen Insurance Solutions, Inc., a provider of technology solutions to property/casualty insurers, has announced the release of Product Factory, an enhancement to its PolicyCore policy administration solution that adds built-in and configurable product development and management. PolicyCore is part of Exigen Suite, a suite of modular policy, billing, and claims core systems that provides value and speed to market.
“Product Factory’s building-block design offers complete reusability,” says Rowshi Pejooh, vice president of product management for Exigen. “All product definitions, including eligibility, packaging, underwriting rules, forms management, and pricing, may be cloned and configured to create new products. It gives insurers full control over their product strategy.”
Product Factory improves product development and management by making products defined as components that are reusable across lines of business and geographies. Users then can build new products by cloning an existing product.
The Exigen Suite also includes DistributionCore, a new core product with functionality such as producer management, producer portal, compensation management, and distribution channel management.