The DEVK Group, Cologne, has decided to implement a new policy management system for P&C insurances based on the Faktor-IPM standard software by Faktor Zehn AG, Munich. The contracts were signed with ConVista Consulting AG as implementation partner in September 2017. The Faktor-IPS open-source product system is an integral part of the new policy management system.
One of the goals of this Java-based application architecture is improving product flexibility and time-to-market. The following lines of business will among others be realized and migrated in different project phases: property, personal accident, general liability, and car insurance.
The decision in favor of the Faktor Zehn solution was primarily due to the advantages of Fakor-IPM in quickly launching products and in providing a high level of user-friendliness for users in departments and the IT.
The new policy management system for private and commercial P&C insurances will replace the old mainframe-based contract management and be integrated in the existing DEVK landscape. Customizing, integration, and implementation of the policy management system will be done in a joint project of both parties under the leadership of DEVK