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Achieve Core System Transformation using insurance specific framework components at a fraction of the cost of packages

Build unique and flexible policy admin, billing and claims systems, plus companion quoting portals, using our innovative component-based Insurance Systems Framework. Tackle specific challenges posed by the multitude of LOBs, including non-standard commercial, specialty and farm lines.

Instead of resorting to the prohibitively expensive buy-vs-build compromise and associated risk, insurers can craft the most optimal and custom-tailored solutions at a fraction of the cost of package-based solutions. Our carrier partners retain full control of the solution with access to the architecture and design, along with the complete source code, thus avoiding any perpetual, recurring costs.


Real Challenges with System Transformation

Although still reliant on legacy core systems for some key functionalities such as rating, underwriting edits and stat reporting, insures have been making significant improvements and incremental innovations to their systems on a nearly continuous basis. For example, carriers have implemented advanced workflow solutions for agents and internal users, while also creating sophisticated web-based user interfaces and self-services portals for agents and policyholders. Carriers are already able to automate most of the policy life cycle functions, such as quote, issue, bind, renew, endorse and cancel.

Using a package-based solution requires throwing away all the hard work, time and the valuable assets that users appreciate, and then re-implementing them in the most expensive manner as ‘customizations’ to standard vendor packages. This model often results in significant schedule and cost overruns for the carrier. If the true need is only in modernizing the few left-over modules, then paying a prohibitively expensive premium for the packages and their fractional utilization is not meaningful.

Further, while packages are well tuned to deal with standard, run-of-the-mill LOBs, they also require significant customization and tweaking when the solution is targeted for several non-standard, commercial or specialty LOBs.

The Jarus micro service-based Insurance Systems Framework provides the right solution for these scenarios. The goal of ISF is to KEEP WHAT YOU LIKE and REPLACE ONLY WHAT YOU HAVE TO. Jarus provides the complete blueprint, architecture, design, reference implementation, and the full source code at a fraction of the cost of package-based solutions.

What is Jarus ISF?

Complete Blueprint

  • Architecture and Design to build core systems – PAS, Billing and Claims
  • Responsive web UI with a single, consistent workflow
  • All business logic codified as a set of compact, well defined and secure APIs
  • Standardized object model and DB schema for all lines

Full Reference Implementation

  • A starting point to accelerate development
  • A Microsoft .NET implementation of customer and policy inquiry and new business transactions (UI, API and DB implementations)
  • Security framework
  • SQL Server database schema
  • Metadata based UI framework to automate coverage and question UI and a configuration tool
  • Sample rating and rules framework and much more

Proven Process

  • Well-tested methodology to ensure success
  • How to document and analyze requirements?
  • Implementation process using agile methodology
  • How to plan for conversion and migration from legacy system?
  • How to test, deploy and optimize?

Experienced Implementation Team with Insurance Domain expertise

  • Domain and technology expertise focused on carrier systems

Functionality

Customer Management

  • Add Customer
  • Edit Contact Info
  • Address Clean up
  • Duplicate Detection
  • And removal

New Business

  • Quote
  • Bind
  • Issue
  • Automated Underwriting
  • Straight through processing
  • Forms Inclusion
  • Policy Dec generation
  • Task Management

Customer Dashboard

  • Presents a 360 degree view of the customer
  • Policy inquiry
  • Billing inquiry
  • Claims inquiry
  • Policy documents

Two way integration with other carrier systems

  • Billing integration
  • Claims integration
  • Document management

Agency Functions

  • Commission reports
  • Agency user administration

Third party integration

  • Lexis Nexis CLUE
  • FICO Scores
  • MVR Reports
  • ISO Locate
  • Rating Engines

In-force policy administration

  • Endorsements
  • Automated renewals
  • Cancellations
  • Reinstatements

Security/User management

  • User registration
  • Authentication
  • Authorization
  • User administration
  • Reset password

Frameworks Included in ISF

  • Responsive UI Framework

  • Configuration and Metadata Framework

  • Rating Framework

  • Rules Framework

  • Workflow Framework

  • Security Framework

Frameworks Included in ISF

Schema Design

  • Party:
    • Insured
    • Additional Interest
    • Additional Insured
    • Agent and Producer
    • Driver
  • Policy
  • Risk item:
    • Vehicle
    • Location
    • Property
  • Coverage including limits, deductibles, options, scheduled items, etc.
  • Forms
  • Documents
  • Comments
  • Financial information including premiums, surcharges, discounts, etc.
  • Questions and answers
  • Reports (MVR, CLUE, Home validation, etc.)
  • Message and Rate log

Policy Related Services (details)

Policy Admin Service

  • Create policy
  • Get policy summary/details
  • Find policies
  • Change policy
  • Validate policy
  • Renew policy
  • Reinstate policy
  • Get ID card
  • Get Certificate of Insurance
  • Get book of business
  • Add comment

Quote Services

  • Create quote
  • Save quote
  • validate quote
  • Find quote
  • Copy quote

Rating service

  • Rate quote/policy

Underwriting service

  • Bind quote
  • Issue policy

Case Study - 1

  • Profile: Mid-West based Super Regional Carrier, 7 states
  • LOBs: Personal, Commercial, and Farm LOB's, Complex Packages
  • Distribution: Independent Agents
  • Legacy: PMS Series-II and V4
  • Achieve single, consistent UI for all LOBs
  • Implement a Unified Workflow for Agents and Internal Users
  • Integrate with Billing, claims and External Systems
  • Migrate prior term data from legacy DB2 and VSAM
  • Migrate Mainframe based reports to IBM cognos
  • Created custom Object Model
  • Insurance Industry Components as building blocks
  • Java EE, Oracle and Open Source Stack
  • Reports using Cognos
  • 5-Year successful migration and decommissioning of the Mainframe
  • 70-85% Straight Thru Processing
  • Single Unified Workflow for Agent/Internal Users
  • Customer has complete control with full source code.

Case Study - 2

  • Profile: Mid-West based $700M Super Regional Carrier, 25 states
  • LOBs: Personal, Commercial, Complex Packages
  • Distribution: Independent Agents
  • Legacy: PMS Series II with heavy customization
  • Achieve process efficiency and reduce turnaround time
  • Implement a Unified Workflow for Agents and Internal Users
  • Integrate with Billing, Claims, Data warehouse and External Systems
  • Leverage JARUS ISF
  • .NET stack, SQL Server
  • Custom Rating and Rules
  • Project started in 2016 with 5-year plan
  • Phase-I-All personal lines
  • Target Cost of Implementation - 35% of Package based solution
  • Customer has complete control with full source code

Benefits

  • Leverage what is already present – Keep what you like and ONLY build what you HAVE to
  • Reduce cost – custom tailored solutions at fraction of the cost of package based approach
  • Accelerate development
  • Build in incremental and agile manner; No version upgrade headaches
  • Benefit from secure, reusable APIs
  • Retain full-control with complete access to architecture, design and source code
  • No vendor lock-in or perpetual costs
  • Access to experienced implementation team

Implementation

Jarus accelerates implementation using a proven agile implementation process and its superior team, with deep insurance technology domain expertise. Our requirements process enables elicitation and analysis of business goals to reduce the risk of costly delays and cost overruns. The agile methodology ensures that stakeholders receive a deployable release at the end of each sprint.


What our Customers say…

"Jarus is one of our longest standing relationships; they have proven their ability to add value across a wide range of needs, from core systems development to single page applications to basic troubleshooting.

Their deep knowledge of many technologies coupled with a keen understanding of the Insurance domain has made them an extremely effective partner for Farmers Alliance.”

- Andy Edwardson, CIO, Farmers Alliance Companies.