Policy Admin System™

Personal | Commercial | Farm | Specialty | Life

Jarus Policy Admin System is a flexible, scalable, configurable policy administration system that lets insurers introduce new products quickly and manage them effortlessly. It enables straight thru processing (STP) that automates workflows, reduces process latency and operational costs. This is a no code platform that allows business analysts and subject matter experts (SME) to create and manage products, coverages, business rules, rates, and rating logic.

Components

Underwriter Workbench

The underwriter workbench improves ease-of-use for internal users using a single, consistent workflow across all monoline and multi-line policies. It allows users to create quotes and policies and fulfill rate, quote, bind, underwrite, issue and post-issuance transactions.

Rules Engine

The rules engine applies business rules uniformly to make decisions on whether a risk is eligible or not and whether to allow straight thru processing or refer the risk for further review and underwriter approval.

Rating Engine

The rating engine is a calculation engine that evaluates the risks and computes premiums based on the rates and the rating logic that apply for each risk.

Microservices

The microservices provide a very fast, highly scalable, line-neutral applications programming interfaces (API) to create, save and modify quotes and policies.

Product Configurator

The Product Configurator allows insurers to configure the insurance products, coverages, limits, deductibles, rating/eligibility/underwriting questions, business rules and the rating logic.

Benefits

Line neutral

The components are line neutral and can be leveraged for all mono and multi lines including personal, commercial, farm, specialty, life, and more.

Customizable

Mix and match the components and other best-of-breed solutions. Don’t compromise on the workflow you want.

Full control

Obtain full source code and be free from vendor lock in. Gain complete control over architecture, and design.

Open, modular

All the components are open, modular and fully customizable.

Low code approach

Majority of changes owing to new LOBs, states, coverages, or other modifications, are handled by the product configurator, without coding.

Lower TCO

Decrease production and application maintenance support costs and benefit from a lower TCO.

Training

Get trained on how to optimally use the components. Use our Google Classrooms to review the training material, take quizzes, and keep updated on the new features.

Speed to market

Line neutral schema accelerates introduction of new products.

EASE of USE

With all the configurations externalized through the product configurator, they can be managed by business analysts and developers.

Proven Methodology

The agile approach ensures that stakeholders receive a deployable release at the end of each sprint. Introduce incremental improvements, with no version upgrade headaches.

Best Practices

Our requirements process enables elicitation and analysis of business goals to reduce the risk of delays and cost overruns.

Talented Resources

Leverage a talented team with several years of insurance domain expertise, to architect solutions, and implement projects. Benefit from a wealth of training materials and customized workshops.