Insurance providers face increasing pressure to offer personalized, accurate premiums while maintaining regulatory compliance. Traditional rating systems often require IT intervention to update rules, limiting agility. Decisions was needed to provide a flexible, rules-driven platform that non-technical agents could use to configure and test premiums dynamically.
Challenge
Before Decisions, the company relied on static spreadsheets and legacy systems for insurance rating.
- Agents could not easily test what-if scenarios, requiring IT support for every rule change. This slowed pricing adjustments, reduced responsiveness to customer needs, and created risk of calculation errors.
Solution
Decisions was deployed as the core rating engine for the companys insurance products. Key features included:
- Rules Engine: Non-technical agents could adjust business rules without coding.
- Scenario Testing: Agents could test different premium calculations dynamically.
- Data Integration: Rules pulled information from external data sources for accurate risk assessment.
- Dashboards & Reporting: Visibility into rating scenarios, premium distribution, and compliance metrics.
Differentiators
- Rules Differentiators: Business-led logic management allows non-technical users to adjust rules safely. Centralized rules ensure consistency across products.
- Flow Engine Differentiators: No-code scenario testing lets agents experiment with premiums without IT support.