The Client’s Line of Business Units (LBU’s) needed to develop a policy administration system which supports product configuration, sales, and post sales servicing transactions.
- The client wanted to include transactions like billing, invoice generation, payments, surrender, cancellations, claims and maturity in a single policy administration system.
- The client wanted to improve speed to market and address customer needs in fastest turnaround times. In the present scenario, assembling, configuring and administering products were error prone and needed multiple iterations. Also, the cost of creating newer products was high.