11/8/2017 Ravi Kumar Blog Posts: Pega RULES Vs Insurance

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Ravi Kumar Blog Posts

Friday, December 12, 2008 My Blog Posts

► 2017 (1)
Pega RULES Vs Insurance
► 2016 (1)
In a Leading Insurance Provider there was no ► 2015 (1)
automa on for the following business processes
► 2014 (1)
to generate the insurance policy for a customer.
► 2013 (2)
1) Ques onnaire Process: They did manually to ► 2012 (1)
get the ques ons and answers from the ► 2010 (8)
customer for his/her policy.
► 2009 (6)
2) Premium Calcula on Process: It had done
manually by using the spreadsheets. In that ▼ 2008 (24)
spreadsheet they put the business logic and ▼ Dec 2008 (24)
generate the premium. It was a me consuming Applica on Server Vs Web Server
process for each premium calcula on.
Cancella on in Insurance
3) Quote /Bind/ Book Process: Once the Premium
got calculated then they were genera ng the Some of Insurance Processes
Quote, Bind and Book documents manually. If Insurance Overview
any mistake in either of them then it was very Insurance Industry Segments
painful for them to track it.
Direct Capture of Objec ves (DCO)

A part from these it has the following common Tes ng and Types of Tes ng Scenarios
problems.
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11/8/2017 Ravi Kumar Blog Posts: Pega RULES Vs Insurance

What we learn using Product Configura on

1) Underwri ng Rules: As insurance depends on Framewor...
underwri ng and the underwriters, there are How Product Configurator Framework in Pega
certain rules which have to be followed while Rules I...
issuing the policy. The common problem for it is Do you know how to send an SMS using Pega
if any changes occur in those rules then it would RULES?
be complex to resolve it. Some of Performance Improvements in Pega
RULES
2) Ra ng Rules: Ra ng is a method to use for List of Pega Performance Tools
genera on of quick proposal, qualified proposal, Performance Problem Types in Pega
and full proposals (New Business) which includes
What is Performance Context?
capture of the all relevant informa on to issue a
valid proposal. It varies from country to country. Pega RULES Vs Insurance
For each country it is very complex for them to What a BPM is ?
form the ra ng rules.
Func onal Overview of Pega RULES
Different Enterprise Rules Used in Pega RULES
Pega RULES best for Insurance solution:
· Pega solu on is aimed at bridging the gap Pega RULES: Powerful Deployment Flexibility
between business goals and informa on systems. Tool
Pega process-based integra on technology helps Pega RULES: An Enterprise Rules System
organiza ons model and automate business Business Process
process workflows and integrate them with
Advantages of Pega RULES Process
applica ons, systems and partners. This leads to Commander
reduc on in manual steps, improvements in core
Pegasystems Process Commander Leading
processes and gain in compe ve advantage. BPM Capabili...
· Pega technology includes both process
Process Commander
automa on as well as data integra on in one
product in insurance. Pega designed its product
to enable Service Oriented Architecture (SOA)
approach to enterprise IT, to minimize coding for
ease of use and to offer high degree of
reusability. With this insurance has benefited in
their new business and the renewals business
also.
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11/8/2017 Ravi Kumar Blog Posts: Pega RULES Vs Insurance

· Enhancing insurance business revenue by

dynamically configuring the components and
features and pricing the products actually
purchased at or near the point of sale. Pega
offers centralizing the control but widely
distribu ng the catalog of products offered for
sale.
· Pega uses the Product Configura on Solu on
Framework in insurance first me. It offers best-
prac ce rule forms and administra ve tools for
maintaining product configura ons in the context
of business rule and business process
management applica ons. It is used to the
products Professional Indemnity (PI) and Casualty
industry and it supports all personal and
commercials lines of business. It includes both
process automa on as well as data integra on in
one product. Pega offers the capability to
automa cally build PDF file formats in
documents genera on, and graphically map
informa on from any system, applica on.
· Pega Product Configura on frame work
provides purpose-based rule forms for
configuring product groups, products and
product components that help you organize and
manage the rules associated with products. It
provides you with ac vi es, flows and flow-
ac ons that help you access product rules
managed with the Product Configura on
framework from within your applica on.
· In insurance the valida ons and the calcula ons
are very complex there was no such system to
take all effec vely and easily. As Pega came up
with rules-base concept, it uses declara ve rules
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11/8/2017 Ravi Kumar Blog Posts: Pega RULES Vs Insurance

and the ac vi es rules in simplifying the

valida ons and the big calcula ons easily.
· Pega provides the Rule resolu on algorithm in
iden fying the right business rules in right places.
With this feature insurance business get
benefited to iden fy the product based and
business rules as well.
· Pega has provides a good security in insurance.
By using the access roles, privileges, access
groups to make secure at all levels.
· Pega has provided insurance business in ge ng
the weekly, monthly and yearly reports for their
business growth. It provides an agent concept in
genera ng the excel format reports and is very
easy to updatable by business based on the
situa on.

Pega also offers following Insurance- focused

solutions:

BPM for Insurance (BPMI) solu on – Workflow

automa on and data integra on for improving
business processes.

Agency-Carrier Alliance (ACA) solu on –

Automated upload & download of policy
informa on in real- me.

Insurance Systems Integra on (ISI) solu on –

Seamless integra on and data flows between
policy management systems, ra ng packages,
claims applica ons, accoun ng and other sub-
systems

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11/8/2017 Ravi Kumar Blog Posts: Pega RULES Vs Insurance

References: Pega sites and other BPM spaces

sites

Posted by Pisupa at 2:18 PM

Reac ons:
funny (0)

2 comments:
Andhrawala said...
Good Job Ravi. Excellent idea.
December 12, 2008 at 6:05 PM

Karthika Shree said...

Great post! I am actually ge ng ready to
across this informa on, It's very helpful
for this blog.Also great with all of the
valuable informa on you have Keep up
the good work you are doing well.
PEGA Training in Chennai
July 5, 2017 at 10:23 PM

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Wednesday, November 8 2017

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