Tool for insurance applications developmentFaktor-IPS, the product system for insurance companies
Faktor-IPS enables you to define and design modular products and services centrally for all sales channels and back-end systems in your company, and takes advantage of modern, transparent interfaces and extensive functionality. Faktor-IPS can be used for all types of insurance.
The model-driven approach means that Faktor-IPS is much more than a product system. Faktor-IPS generates Java code from the defined product and contract models. This code can then be used directly for your system applications (offer, contract systems etc.), as well as for the integration with the interfacing systems. There is always the option of changing the code manually and extending the model.
In conjunction with linkki, our open source interface framework, Faktor-IPS forms the development platform for our core insurance solutions and for our suite. Our customers also use Faktor-IPS to develop their own solutions (offer and policy systems). The benefits include fast time-to-market and low maintenance efforts.
user-friendly editors for creating, editing and documenting the insurance model and the respective insurance products
easy-to-use wizards for the creation and maintenance of product components, calculations and tables
simple mapping of sales variants and product generations
flexible testing (regression testing) and documentation of products and models
generated Java source code, that can easily be extended and adapted
access to model and product information at runtime
As a digital insurer, we need for the right online customer experience a calculation engine that delivers results in a split second, even for complex products. Faktor-IPS exceeded our expectations. Faktor Zehn helped us enormously to deliver on time.
Ton van der LindenCIO Achmea
The decisive factor, that swung the decision in Faktor Zehn’s favour, was the significant benefits Faktor-IPS® offers for the bespoke development of complex insurance systems.
Udo RöhlProject Manager, Signal Iduna
Flexible, bespoke model
organizational departments use the same product system
User-friendly product maintenance
Easy creation and maintenance of specialist models and product knowledge
Multi-sales channel support and campaign capability
Faktor-IPS can be localized and product data can be maintained in multiple languages
Quality assurance of product data through test support for the specialist department
Speed and flexibility
Thanks to the model-driven approach, contract and product models can easily be extended
Central repository for the definition of products, which all systems can access
Faktor-IPS is 100% based on a Java platform
Accelerated development and clean source code thanks to modeling and automatic code generation
Independent runtime component
Faktor-IPS does not require any external dependencies; our runtime component is less than 1 MB in size
Faktor-IPS is transparent and expandable
What is Faktor-IPS®?
An overview of Faktor-IPS, our tool for developing core insurance applications
Live Demo with Achmea @ DIA
Managing complex pension processes, products, DB /DC schemes and their respective calculations with Faktor-IPS