Policy management software for the insurers of tomorrow

With our policy management software Faktor-IPM, you benefit from a holistic insurance policy management system with integrated sample content for all non-life policies, commercial and motor vehicle lines of business.

Flexible policy management is needed to meet the demands of existing customers

In an increasingly digitalized world, speed and service quality are crucial for insurance companies to remain competitive in the long term. Shorter innovation cycles, growing customer demands and increasing competition require maximum flexibility – also in policy management.

With Faktor-IPM we offer a smart software solution for the policy management of all non-life and commercial lines as well as the legal protection line. Due to the partnership-based development of the software, together with our customers, the policy management solution is particularly closely aligned with the needs and objectives of the specialist area and brings with it all the necessary core functions for efficient insurance policy management. Due to the included and extensive reference models and the existing sample content for the different insurance lines, our policy management software is optimally adapted to the framework conditions of the German market. Faktor-IPM also includes standard components for eVB and VWB as well as SF management to cover all of your vehicle insurance processes.

These clients trust in Faktor-IPM

Faktor-IPM as the basis for future-oriented policy management for insurance companies

Faktor-IPM ensures, thanks to a high degree of background processing, efficient management of contracts and promotes a sustainable reduction of your operating costs. At the same time, the integrated Faktor-IPS product system allows you to flexibly model both product and contract structures, thus achieving a fast time-to-market and reacting agilely to new market conditions. Functions such as historization, billing, business transaction control, etc. are included as standard and complete the prerequisites for solid policy management. To ensure that you also satisfy the customers of the future, Faktor-IPM already supports the “pay-as-you-drive” concept or situational insurance products.

What our clients say

“The new software from Faktor Zehn increases efficiency and the degree of automation enormously. This is a major advantage for us, especially in the price-sensitive automotive business. This is made possible by the high degree of dark processing in the end-to-end processes.”

Alexander Erpenbach Head of the P&C Operations Department at DEVK
DEVK company logo in grey on white background

“By working closely with Faktor Zehn and using Faktor-IPS and Faktor-IPM, we manage to automate our business processes around product development and policy management to the greatest possible extent. This enables us to react faster and more effectively to market events and customer needs.”

Jürgen Buchmann IT Service Strategy Owner at VKB
Portrait picture of Mr. Jürgen Buchmann from VKB

Product high­lights

    • Shield icon with a highlighted hook

      Line of business coverage

      Line of business add-ons for private non-life lines, motor, commercial and legal protection accelerate the implementation project and minimize risk and costs.

    • stopwatch icon

      Short time to market

      Contract and product model as well as process definition can be adapted quickly and flexibly. The introduction of new products is straightforward and enables a fast time-to-market.

    • Chart icon with an ascending arrow over the bar graph

      Efficient contract management

      Two-dimensional history management, version comparison and a flexible configuration enable qualified processing and a high degree of automation.

    • Shield icon with a highlighted hook

      Line of business coverage

      Line of business add-ons for private non-life lines, motor, commercial and legal protection accelerate the implementation project and minimize risk and costs.

    • Chart icon with an ascending arrow over the bar graph

      Efficient contract management

      Two-dimensional history management, version comparison and a flexible configuration enable qualified processing and a high degree of automation.

    • stopwatch icon

      Short time to market

      Contract and product model as well as process definition can be adapted quickly and flexibly. The introduction of new products is straightforward and enables a fast time-to-market.

  • Shield icon with a highlighted hook

    Line of business coverage

    Line of business add-ons for private non-life lines, motor, commercial and legal protection accelerate the implementation project and minimize risk and costs.

  • stopwatch icon

    Short time to market

    Contract and product model as well as process definition can be adapted quickly and flexibly. The introduction of new products is straightforward and enables a fast time-to-market.

  • Chart icon with an ascending arrow over the bar graph

    Efficient contract management

    Two-dimensional history management, version comparison and a flexible configuration enable qualified processing and a high degree of automation.

Would you like to see Faktor-IPM in action?

Then request an exclusive and free demo ap­point­ment now!

Product ad­van­tages

  • Icon of a light bulb

    How your business users benefits

    • Fast time-to-market, thanks to maximum flexibility in product and contract modeling as well as process definition
    • Broad line of business coverage: non-life, motor, commercial and supplemental health, including sample content and preconfigured products
    • Flexible processing of policies incl. retroactive changes possible
    • High degree of automation and background processing
    • Sustainable process optimization and reduction of operating costs
  • Gear icon with highlighted center

    How your development de­part­ment benefits

    • 100 % Java
    • Integrated open source product system Faktor-IPS as computational core and heart for product and contract modeling
    • Scalability through Java EE and Spring-Boo architecture
    • Independence in operation and capability for independent further development through service-oriented architecture (REST APIs)
    • Maximum integration capability in existing system landscapes, through an innovative interface concept
    • Cloud-ready

Core function overview

1

2-dimensional history management

Policies are managed in an audit-proof two-dimensional manner. Every status of the policy can be traced.

2

Retroactive changes

Retroactive changes are supported out-of-the-box. The merging of versions is done automatically.

3

Delta determination

Any version status can be compared and evaluated down to attribute level.

4

Billing component

Policies are billed per rata. The bookings can be transferred to a collection system.

5

Fast time-to-market

New products and product generations can be introduced with a few simple steps.

6

Sample content for all private lines of business

There is a sample content for all important private lines of business: household, residential building, liability (private, professional, sport boat, pet owner, house and land owner, builder, water damage), private accident, glass, travel and legal protection.

7

Sample content for commercial

There is a sample content for buildings, contents insurance, business liability and group accident.

8

Suspense management and release

Processing can be suspended and forwarded for release.

9

Multi-client capability

The system supports the administration of several clients in one installation.

Faktor-IPM Downloads

  • Faktor-IPM Flyer

    Learn more about Faktor-IPM policy management software in our product flyer.

  • Press release NÜRNBERGER - Faktor-IPM

    Nuernberger Versicherung announces the launch of its commercial business for all sales partners on its new system landscape

  • Press release DEVK - Faktor-IPM

    The Faktor-IPM policy system has gone live at DEVK. In the process, 1.3 million contracts were successfully migrated – on time, budget and quality.

  • Press release ProTect - Faktor Zehn

    ProTect Versicherung AG goes live with Faktor Zehn software in only 8 months and reaches its first milestone in IT modernization.

Would you like to learn more about Faktor-IPM?

Contact us