Ravello Solutions announced a new licensing structure for all of its system suites. The new program called Ravello Flex-Option Pricing is aimed at insurance companies that typically target ASP and SaaS solutions for their initial financial flexibility and lower upfront capital requirements.
“While we recognize that in many industries ASP and SaaS models are an efficient and cost effective alternative to the standard licensing model, these structures often force insurance carriers to operate using the vendor’s generic workflows, configurations and predetermined methodologies,” says Andrew J. Serowitz, president of Ravello. “Smaller or start-up carriers are often forced to trade off between not differentiating their products for financial reasons or have to make a substantial upfront investment to achieve their product differentiation. We don't believe insurance companies should have to make that trade off.”
Given the proprietary nature of insurance company data and the fact that many ASP and SaaS providers utilize multitenant databases, there is always a risk that company data and security could be compromised. Additionally, the insurance company may have difficulty accessing its data because of a vendor's structural challenges or noncooperation. Many times in complex verticals such as insurance, configuration and customization are only offered to the largest customers. Ravello Flex-Option Pricing was designed to give clients the option of utilizing a modern high-end enterprise level web-based system previously outside of their price range.