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The open source product management system for insurers

Use our product management system Faktor-IPS for central modeling of your insurance products and for model-driven development of insurance software.

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Digitalization is exerting sustained pressure on the insurance industry and product management

In order for insurers to remain sustainably competitive, it requires flexibility and speed – likewise in product management. To ensure minimum time-to-market, product and performance data should only need to be created once and stored centrally, so that all core and sales applications can access product knowledge directly.

With the Faktor-IPS insurance product management system, you can meet these requirements and centrally create, test and maintain insurance products. Thanks to the model-driven approach, contract and product structures are developed together on one platform, discarding the need for mapping. This eliminates the need for programming skills, meaning your specialist department can carry out product configuration autonomously. Modern and clearly arranged user interfaces additionally facilitate the handling of the software. The wide range of efficiency-enhancing functions and the potential to use the software for all types of insurance enables sustainable optimization of product management.

These clients trust in Faktor-IPS

Faktor-IPS is more than just a
product management system

The model-driven approach means that Faktor-IPS can be used not only as a product management system for insurance companies, but also as a development tool for insurance applications. Faktor-IPS generates Java code from the defined product and contract models. This code can be used for applications such as quotation and policy systems, as well as for their integration into the surrounding systems. It is possible to modify the code manually at any time and to extend the model flexibly. Together with linkki, our open source user interface framework, Faktor-IPS forms the development platform for our insurance solutions and potentially also the core of your system landscape.

Learn more about Faktor-IPS

What our clients say

“The decisive factor, that swung the decision in Faktor Zehn’s favour, was the significant benefits Faktor-IPS® offers for the bespoke development of compley insurance systems.”

Udo Röhl Project Manager at Signal Iduna
Portrait picture of Mr. Udo Roehl from Signal Iduna

“With the Faktor Zehn solution, Achmea adopted a model to address the performance issues of Insurance products calculation while ensuring optimized AOV back-end processes. The new solution fits well into our IT-architecture as already demonstrated within other Achmea projects. We consider Faktor Zehn as a trustful partner and thank the whole team for the combined effort to make this project a great success.”

Eric Joha Manager IT AOV at achmea
Portrait picture of Mr. Eric Joha from achmea

Pro­duct ­high­lights

    • Diamond Icon

      Model-driven approach

      Contract and product model can be extended quickly and flexibly. Java code is generated from the model, which can be used directly in own applications.

    • Icon of an open lock

      Open Source

      Thanks to the open source approach, all users benefit from the insurance and technical knowledge that flows into the product.

    • stopwatch icon

      Short time-to-market

      New products and product adaptations can be provided by business users flexibly and across applications.

    • Diamond Icon

      Model-driven approach

      Contract and product model can be extended quickly and flexibly. Java code is generated from the model, which can be used directly in own applications.

    • stopwatch icon

      Short time-to-market

      New products and product adaptations can be provided by business users flexibly and across applications.

    • Icon of an open lock

      Open Source

      Thanks to the open source approach, all users benefit from the insurance and technical knowledge that flows into the product.

  • Diamond Icon

    Model-driven approach

    Contract and product model can be extended quickly and flexibly. Java code is generated from the model, which can be used directly in own applications.

  • Icon of an open lock

    Open Source

    Thanks to the open source approach, all users benefit from the insurance and technical knowledge that flows into the product.

  • stopwatch icon

    Short time-to-market

    New products and product adaptations can be provided by business users flexibly and across applications.

Would you like to see Faktor-IPS in action?

Then request an exclusive and free demo ap­point­ment now!

Product ad­van­tages

  • Icon of a light bulb

    How your business users benefits

    • Flexible and individual model for all lines of business
    • User-friendly editors for the design and maintenance of products
    • Quality assurance of product data through test support for the specialist department
    • Model-driven approach for flexible extension of contract and product structures
    • White labeling: different sales channels and campaign capability are supported
    Professional advantages
  • Gear icon with highlighted center

    How your development de­part­ment benefits

    • 100% Java
    • Open Source
    • Model-driven approach
    • Independent runtime component is under 1MB in size
    • Usable as a plug-in via Eclipse and soon also for IntelliJ
    Technical advantages

Core function overview

1

Creation and processing of the insurance-specific model

The model is modeled and documented from a business perspective. Java code is generated from this, which is also automatically adapted when changes are made to the model. Specifications for the products can be made in the model.

2

Creation and maintenance of product modules

Products can be maintained by business users. Value ranges, calculation tables and simple formulas allow extensive adjustments.

3

Mapping of sales variants and product generations

Products can be adapted for individual sales channels or customer groups – whereby only the differences to the base product are maintained. Product changes on a key date can be defined in Generations.

4

Regression testing

Business test cases can already be defined and executed during development. Thus, there is no need to wait for a deployment to a test environment or a UI implementation. The tests also run as part of Continuous Integration.

5

Generated Java source code

Java code is generated from the model. This avoids repetitive tasks, allowing developers to focus on implementing domain-oriented algorithms.

6

Product service

Product data is provided centrally for all other applications.

7

Model information at runtime

All data from model and products can be retrieved at runtime and used directly, e.g. in UI code.

8

Extensibility

With plug-ins, e.g. own data types and additional business checks for model and product development can be implemented.

9

Open Source

The source code is available on GitHub. Within the Faktor Zehn Community and our annual Faktor Zehn User Group, all customers participate in the joint further development.

Faktor-IPS Downloads

  • Faktor-IPS Flyer

    Learn more about the Faktor-IPS product management system in our product flyer.

    Download

  • Press release achmea - Faktor-IPS

    Achmea-Netherlands implements AOV (Arbeidsonges-chiktheids-verzekering) insurance based on Faktor-IPS.

    Download

Would you like to learn more about Faktor-IPS?

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Portrait of our Solutions Architects Daniel Schwering