ICD AND ICM

Insurance Content Designer & Insurance Content Manager - Configuration Tools for IT and Business

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PRESENTATION

Legacy modernization using a Product Modeler as a strong foundational step

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About MajescoMastek

STG Product Modeler

STG Product Modeler provides one central repository for all insurance product definitions and reusable content, making the task of launching new products simple and fast.

Product overview

STG Product Modeler is a configurable solution that can centralize insurance content across various insurer systems, including legacy applications. This business-driven solution ships with rich, pre-loaded templates (ISO and proprietary), to allow business users to create and manage content. Due to these capabilities, carriers can maintain product consistency across multiple systems.

Become more agile, improve speed to market
STG Product Modeler is a comprehensive single source of all the product information with ready content. Product modeling requires built-in tools for multiple what-if analysis, scenario testing and market judgements. STG Product Modeler allows a user to test the outcome of a particular product, its likely impact in the market, the premium that can be charged for such a product and the revenue it can generate. Armed with this information, product managers can make quick decisions whether or not to launch new products in the market, thus improving speed to market.

Track changes and be compliant with regulatory changes
STG Product Modeler provides ISO Electronic Rating Content with integrated ISO-based business rules, loss costs and forms logic and keeps track of regulatory changes.

Maintain consistency of products across multiple channels and systems
Since STG Product Modeler centralizes all insurance content and keeps track of all changes, the user is presented with a single version of the truth about the products. This allows the carrier to define once and use it across multiple systems, thereby improving operational efficiencies.

Get effective business and IT alignment
STG Product Modeler uses collaboration tools and workflows in a manner that allows different departments of the business to work together. Any new product needs input from actuaries, product managers, business analysts and other key members of the business to work together. Lack of collaboration between these teams can lead to major IT bottlenecks. STG Product Modeler gives a holistic view of the different stages of the product development lifecycle describing to every team member what decision they need to take and thus helping IT to work seamlessly with the business.

Distinctive Features

Harvester as a service Comprehensive solutions (design, pricing, testing, deployment) Integrated ISO content

MajescoMastek Advantage

MajescoMastek is a provider of core insurance software and IT services to over 80 carriers in North America. MajescoMastek delivers proven solutions and IT services in core insurance areas including policy administration, product modeling, new business processing, billing, claims, producer lifecycle management and incentive compensation. MajescoMastek is a subsidiary of Mastek (NSE: MASTEK) with over 3600 employees operating in 8 countries across the globe.

 

TESTIMONIALS

MajescoMastek brings their experience of 40 implementations of the system that we licensed with them.

– Mary Ellen Freyermuth, Director of MIS, Catholic Mutual Group

– Director of MIS, Catholic Mutual Group