Insurance products and related selling processes contain enormous amounts of business logic, including, for example, complex underwriting rules. Hyperon is a powerful tool that manages these business rules and optimizes processes. The tool allows non-technical subject matter experts to make changes almost on a daily basis.
Motor insurance tariffs are generated using sophisticated pricing models. The tariff structure includes many aggregated data and actuarial functions. Tariffs can change from day to day, based on new circumstances. Hyperon allows for changes to be made on the fly when the actuarial model is updated or the pricing strategy is changed.
Reference data (e.g. postal codes, countries), product dictionary data, list of terms and conditions, etc. are also kept in one place and reused in the sales system.
Various frontend elements attributes are parametrized, configured, and validated in Hyperon. Therefore, the business user may modify them without any assistance from the IT department.
That makes Hyperon the best fit for the kind of rules-heavy projects found often in the finance or insurance industries.
Hyperon keeps track of thousands of parameters used in sales systems, with no perceived lags. As a result, preparing thousands of offers with various scopes is no longer a problem.
Modifications to parameters and changes in the pricing data don’t require the release of new software versions. Some changes even go unnoticed by the systems communicating with Hyperon.
Defining the product and the logic governing it and placing it in an appropriate structure, allows users to have full control over the applied rules and easy current recognition of where to make changes in order to achieve their business goals. This distinguishes Hyperon from, for example, the Drools engine.
Hyperon makes it is possible to use more than one tariff at the same time, allowing users to freely experiment and make necessary improvements. This provides a wide range of business opportunities, for example, customer segmentation that leads to the optimization of the written premium. Testing each subsequent version of the tariff can be done without IT involvement, which significantly speeds up the work in early stages.
Hyperon is a parameters engine you can configure to use it as a
Check how your company could benefit from Hyperon.
