Insurance providers depend on rate/quote/bind engines to deliver timely quotes and manage policy issuance for agents and partners. Legacy homebuilt systems often scatter rules across databases, UIs, and code, making updates error-prone and time-intensive. To overcome these challenges, a leading insurance firm adopted Decisions low-code automation platform, enabling business users to update rules independently while freeing IT to focus on strategic initiatives.
Challenge
The insurers 17-year-old legacy engine created multiple pain points:
- High maintenance costs and significant development backlogs.
- Distributed rules across multiple systems, making changes difficult.
- New product launches and rate adjustments required extensive coding.
- Delayed responsiveness to regional events impacting underwriting.
- Reduced agility and efficiency in core rating and binding operations.
These limitations constrained growth, delayed revenue opportunities, and increased operational risks.
Solution
The company implemented Decisions to modernize its rate/quote/bind operations with a centralized, business-led rules engine. Key features included:
- No-Code Rule Creation Business users created and edited rules without IT support.
- Centralized Repository Rating and policy logic was consolidated, eliminating scattered rules.
- Role-Based Dashboards and Forms Staff could monitor quotes, binds, and rule updates.