Insurix

Product Lifecycle Management

Insurix further extends its product selling and administration platform with advanced Product Lifecycle Management capabilities. Managing your product portfolio can be cumbersome and time consuming utilizing spreadsheets and manual processes. Insurix’s revolutionary PLM-1 tool provides full Product Lifecycle Management (PLM) capabilities from product conception to servicing in force products. Our Integrated platform ensures agility, consistency, precision and speed in response to market, members and prospective needs. PLM-1 allows the ability to take product development through the key lifecycle junctures in a highly manageable and collaborative environment ensuring that Product Designers, Sales, Actuary, and Underwriting achieve a highly marketable product portfolio that satisfies internal risk criteria.

  • Conceive
  • Design
  • Realize
  • Service

Carriers who implement PLM-1 will realize significant benefits including:

  • Improved time-to-market for new products and product enhancements
  • Improved product management for filings and compliance
  • Improved product support for renewal mapping
  • Improved conformity to business rules and underwriting criteria
  • Reduced product development costs
  • Better product and service quality

Insurix’s XML-enabled platform enables insurance carriers and other participants in the insurance manufacturing process to define and develop product portfolios and manage them from conception through product expiration.

Insurix’s extensive use of XML enables users to create and manage their insurance products in a universally available format - one place to store all product information, available to all constituents.

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