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NeuSprout – The Product Configurator
Revolutionising the business of insurance
What is the one thing customers seek from an insurer? Personalised service and products, discount on premiums, or something else? Well, we have discovered it all starts and ends with the “product”. The company’s ability to respond quickly to evolving consumer demands and increase speed to market have a huge impact on the business’s success and customer satisfaction.
Gartner defines Product Configurator as – “A stand-alone software that supports insurance product development activities, including pricing, product modeling and testing. Central components are a workbench, a calculation engine and a graphical user interface.
Some of the major benefits of a good product configuration solution are:
Reduces operating cost and helps maintain transparency and imparts agility to the business.
Improves operational efficiency and customer experience
Shortens and strengthens the product development cycle
Better utilization of consumer inputs might provide better targeting of consumer needs and therefore more innovative product solutions.
Businesses change their decisions/rules very frequently. Hence product modifications can be handled quickly.
It is crucial for an insurance company to have the right insurance product configurator. One that can help insurers develop agile process applications that can be altered quickly and universally.
A comprehensive solution to manage product lifecycle including configuration, calculations, validations rules and integration is NeuSprout from Neutrinos. Are you looking to adopt the product configuration solution to boost your business growth?
Read our whitepaper “Neutrinos NeuSprout – The Product Configurator” to know more!
