Insurance Product Factory 4.1

October 22nd, 2021

Insurance Product Factory v4.1 is compatible with the Core DPA Platform 21.2, which includes Configuration Management. In addition, it has a number of new features and improvements which you can read about below.

What's New

New Get Price API

The (Undefined variable: VariabileInsurancePtRN.ProductInsurance1) Premium Amount API currently enables you to run test formulas and get the premium tariffs for each item attached to an insurance product. This API simulates the Test Scenario functionality available on product level. But besides being yet another option to use the Test Scenario functionality, for rapid product development, it is a must-have for those insurers seeking to involve some of their most important clients into co-creating highly personalized products.

For more details, consult the Premium Amount API page.

A New Configuration at Product Level

Policy Alteration Type options were added to the Insurance Types form, for the cases when you need to alter a policy. For example, if a policy holder decides to pay through an online payment processor instead of direct debit, you must update the payment type for that policy. In this case, you use the Policy Alteration option to make the update. Also, the updates are managed through the standard FintechOS versioning mechanism. This way, you can keep track of changes and also handle them in a secure way.

For more details about the types of policy alterations, consult the Insurance Types page.

Minor Technical Improvements

• Small UI changes on product general tab and coverages.

• Added unique constraint on FTOS_IP_InsuranceProductItemFormula.

• Sync the insert form with the edit form.

• New entities FTOS_IP_PolicyAlterationType, FTOS_IP_PolicyAlterationType_InsuranceType and data import templates/ data configuration definition for them.

• Data configuration definition for product related entities (migrated from Insurance Product Factory Import digital asset).