Act-isure has a sophisticated product management capability which is as the heart of the system.  It satisfies the needs of marketeers who wish to tailor products and bring them to market rapidly confident in the knowledge that the ‘back office’ is geared up to support them. Characteristics of the product management system are:

• Rapid product development and set up. Products are created by the assembly of English language building blocks, the combination of which defines the insurance product or service to be sold.  Users create their unique products via intuitive ‘wizards’ which allow complex products to be established by non-technical staff in minutes.  Insurers can provide products specifically tailored for markets, groups or individual clients in minutes
• Product set up is a business user task which requires no programming
• When product set up is complete, policies can immediately be written and serviced thus greatly reducing time to market.  There is no need to separately configure the policy or claims systems
• Product components can be copied into new versions of products or wholly new products further simplifying the product development and maintenance process
• As a result Act-isure provides simpler product maintenance reducing lifetime costs for a product.
• Business channels, commission rates, taxes, fees, payment styles and accounting treatment can all be defined as part of the product, which ensures correct payment and reduced administration costs later in the policy and claims processing cycles.