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Standard or flexibility?

We offer both! Faktor-IPM enables you to adapt products and contract structures to your needs, whilst providing all the standard functions at the same time.

Your contact person

Matthias Kreuschner

+49 89 520311 651
Matthias.Kreuschner@faktorzehn.de

For tomorrow’s smart policy management

Faktor-IPM - our powerful policy system based on Java EE architecture

We developed Faktor-IPM together with our customers to ensure that the solution is aligned to the needs of the insurance industry. Our policy system specializes on the administration of non-life policies. It has a wide range of functionality and end-to-end reference models for property, liability, accident and automotive insurance (adapted to the requirements of the German market.)

Standard vs. flexibility – our solution provides both!

With Faktor-IPM contracts can be managed efficiently and new products can be brought to market quickly. The integrated product system Faktor-IPS® allows you to freely model products and contract structures or adapt them to individual needs. At the same time, you can use the standard Faktor-IPM functions such as history management, billing, business transaction control, etc.

As part of the Faktor-Zehn-Suite, Faktor-IPM can be seamlessly integrated with all Faktor Zehn products.

Extensive range of functionality:
  • pre-configured products, reference models, modern business transaction control and interfaces for non-life business

  • components for eVB and VWB for motor insurance, and compliance with current German GDV standard

  • all core functions of policy management (including history management, retroactive changes, pending administration, billing components, business transactions, persistence, multi-client capability, processes, delta determination, authentication, authorization)

  • joint modelling of product and contract structures

  • optimized user interface for efficient, qualified processing

  • flexible interfaces facilitate the integration into the existing IT landscape, so that interfacing systems may not need to be changed

A recent Celent Report describes Faktor-IPM as having a solid functional range and very good market adaptation

Here you can read an excerpt from the report

Faktor-IPM’s flexible model is the decisive reason for Versicherungskammer Bayern in implementing our product visions.

Dr. Sascha Groh

Versicherungskammer Bayern

ConVista is our partner for modernizing our composite application landscape. The first steps with the new Faktor-IPM policy system from Faktor Zehn have convinced IT as well as our specialist department. We believe that this will create the technical basis to meet future customer expectations such as fast Time-to-Market and Digitalization.

Michael Knaup

Member of the Executive Board
Benefits of using Faktor-IPM for policy management
  • Covers all insurance types

    Can be used for all insurance types: non-life, car insurance, commercial, industry and additional-health

  • Scalability

    Scalable thanks to JEE architecture

  • Automation and shadow processing

    High degree of automation and, therefore, shadow processing rate possible

  • Speed and Time-to-Market

    The integrated product system Faktor-IPS enables products to be available within a day

  • Increased productivity

    Special tools and views for the product manager increase productivity

  • Total Cost of Ownership (TCO)

    Faktor-IPM’s efficiency and performance benefits occur not only within the implementation project, but also during operations

  • Simple integration

    The innovative interface concept and service-oriented architecture means the integration into your system landscape can be done quickly and easily

Technical benefits of using Faktor-IPM
  • 100 % Java

    Java-EE-8-Standard

  • Integrated open source product system

    Faktor-IPS is the calculation engine and is the basis for product and contract modeling

  • Service-oriented architecture

    REST or SOAP-API

What is Faktor-IPM?

An overview of Faktor-IPM, a modern and flexible solution for insurance policy management
(3:11 min)
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