Manage complexity in insurance with a product workbench solution
Insurers recognize that innovative products are vital to gain market share in life and property and casualty insurance.
Enterprises look forward to configuring products and manage complex solutions and enrich portfolios.
Complementing these offerings with efficient sales, improved service quality, a better understanding of customer relationships, and diverse functionality across multiple distribution channels is a priority.
Reduce risks, improve flexibility
The Product Workbench solution from TCS BaNCS can assist insurers with creating and maintaining model products and multiple versions for each country, company, line of business, and any other criteria that define the basic structure of the product with attributes, risks, benefits, coverage, processes and rules.
It offers a multi-layered approach including data capture and validation, rules management, risk calculation and reporting. It supports the development of new, innovative and complex insurance products across all business lines, thereby helping insurers increase flexibility and reduce costs and risks.