What we learn using Product Configuration Framework?

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Pegasystems Provides a Foundation of Insurance-Specific Best Practices to Help Insurers Quickly Realize ROI and Maximize Reuse of Assets across the Enterprise.

Work Templates
The Insurance Industry Framework provides high-level work templates that serve as best-practice implementations of Pegasystems SmartBPM Suite, leveraging the strengths of the underlying platform to best advantage and maximum reusability. These workflow templates serve as starting points to build out SmartBPM applications and services to manage your specific business needs.

Pegasystems’ template workflows coupled with an insurance object model based on IAA standards enable fast time to market with a wide range of processes, from new business to claims across multiple lines of business.

Customized Rule Forms
Customized rule forms enable users to easily define product groups, products, components, and features. These rule forms allow users to associate products with product groups and define which components, sub-components, and features are available for each product. The rule forms associate product elements with validation, eligibility, pricing, commission, taxation,
and display rules.

Product Explorer
A Product Explorer provides a visualization of the relationship between products and their components, giving users easy access to their product-configuration rules.

Pre-Built Activities
The framework provides over 60 pre-built activities to automate processes associated with accessing product-configuration rules.

Flows and Flow Actions
The framework provides flows and flow actions for accessing product-configuration rules, display sections, properties, validation rules, etc. from within template workflows for new product application and policy servicing.

Reusability
Product-configuration services enable insurers to define complex component-based insurance products to gain control over the rules that drive their business and to drive efficiency with reusability. The framework is designed to promote the re-use and specialization of product components — e.g., objects of insurance and coverages — across products and even product lines. The result is faster time to market with new products, and the power to change product rules once and change them everywhere.

Messaging Services
The Framework provides a working model for deploying services that consume and respond to ACORD XML messages. Pegasystems provides tools for mapping ACORD XML forms to the IAA Business Object Model, to take advantage of the workflow templates provided in the framework and extended by customers. The framework includes a sample service for ACORD XML auto quick quote to serve as a template for parsing other forms. The service both consumes ACORD XML messages and returns a quote in the form of an ACORD XML message.

References: BPM space sites

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