COR.FJA Life Factory JEE
IBM PureApplication System
|Provided by: COR&FJA Deutschland GmbH|
COR.FJA Life Factory is a proven standard software for product development and administration for life insurance and occupational pension, applied by well known insurers. It`s realised with thin client technology, compatible with multiple platforms including host and can be implemented internationally in multinational groups.
COR.FJA Life Factory is a releasable standard software for policy administration of life insurance policies. The software supports an efficient and comprehensive administration for individual and group business and covers the complete contract lifecycle starts at application handling till handling of benefits and claims. As well as single customer policy administration, COR.FJA Life Factory can also be used to manage all insurance-based company pension schemes. Whenever the terms “life insurance Company” or “insurance company” are used below, this also refers to suppliers of insurance-based corporate pension scheme. Supplemented with additional components of the COR.FJA Insurance suite the COR.FJA Life Factory covers all main tasks of an insurance company. Based on its multi-client, multi-currency and multilingual capability the software is ideally suited to international companies. Thin-client technology allows flexible adaptation of business processes and access channels for different target groups and avoids redundancies in terms of processing. At the same time, the application of modern technology enables significant reductions in administration costs. The functional, service-oriented component based architecture gives the COR.FJA Life Factory the flexibility to meet company requirements, mostly by configuration. COR.FJA Life Factory is integrated into an insurance company’s IT environment based on a procedure model that has been tested and proven in a number of installations.
Business CaseThe upgradable standard software package COR.FJA Life Factory supports the business processes of life assurance companies in their business with private customers, and of pension fund institutions, from new business to benefit processing and accounting. Its multi-client, multi-currency and multilingual capabilities make it suitable for use in international corporations as well. The component architecture, flexible technical mechanisms for system integration, and predefined standard interfaces mean the system can be readily integrated into the specialist application system environments of insurance companies.
Business ProblemIncreasing globalisation, ongoing changes to the legal framework and technical developments are creating a need for flexible, rapidly configurable policy administration systems. Flexible product design, complete, integrated process handling, high quality of service and low processing costs are key determinants of market success. As a result, the use of standard software for policy administration is becoming a strategic success factor.
Very high degree of product design flexibility: Product knowledge is encapsulated in the central component, Product, based on a modern product model: its hybrid approach makes it possible to define classic pricing features combined with new, flexible premium, benefit and investment strategies. The Contract component supports all the processes involved in the lifecycle of a contract. The account-based policy administration, integrated record-keeping and flexible time model ensure that all business transactions are transparently and traceably documented and make for a high level of automation. The Collective component offers extra functionalities for the management of collective bodies.
Name: Rainer Elsässer
Phone: +49 89 76901-0