Owing to its flexibility and parametrization abilities, the product definition module allows for:
- defining new insurance products from the scratch or with the use of existing definitions (whole product definition or one level of the product definition, e.g. a marketing package, insurance or cover scope)
- modifying existing ones
- automated transfer of definitions from the test environment to production one – product testing on real data supported:
→ versioning of product life-cycle definitions – every element has its own status tracking and time period parameters (from, to)
→ all historic data are stored in the system and cannot be modified or deleted as they may be used by the portfolio of existing policies
This approach significantly reduces the time needed to implement a new product in Comarch Life Insurance system by the insurer without the system provider support.