Genasys Technologies has launched its newest product configuration tool to the UK insurance market.
BUILD gives brokers, MGAs, insurers and start-up insurance businesses the power to define insurance products, claims and rating in one place and bring new propositions to market quickly whilst its agility allows for rapid changes to product and rates at a reduced cost and timeline.
“The UK market will be the first to benefit from what is our most powerful web-based insurance product configuration suite,” said Genasys UK Chief Operating Officer, André Symes. “BUILD makes it as easy as possible to construct a product, complete quality assurance, test and roll it out with a few clicks rather than having to undertake complex configurations and coding. In a dynamic insurance market constantly challenged to innovate whilst containing costs, we believe that BUILD brings a unique solution to UK insurance businesses.”
Fully cloud-based, BUILD features a number of stand-out elements:
· Simple interface to reduce training requirements enabling users to get up and running quickly
· Version controlled with the ability to roll back to previous configurations
· Real-time preview of configurations with the ability to capture test cases before deploying the product
· Central repository of product configurations which can be deployed to multiple instances
· Integrated testing enabling preview of product behaviour and approval within the same environment
· Self-service account management enabling managers to add and remove users to create, maintain and test products
Symes added: “Rather than develop a technical tool, we’ve created a business-focused solution that allows anyone in the insurance value chain to create and modify product configurations themselves rather than having to rely on their software house to do it for them.”