The Product Machine was built for the business of insurance – not for one insurance line of business. As a result, one of its most impressive features is its ability to accommodate the varying requirements, technical intricacies, and disparate components of Life, Health, and Property/Casualty coverages. And because the Product Machine’s centralized repository warehouses a complete, reusable inventory of insurers’ discrete product components, it easily manages the actuarial and financial complexity, as well as the other technical requirements of everything from:
- Simple term life to variable whole and universal policies
- Simple indemnity fee-for-service medical plans to complex Section 125 Cafeteria Plans
- Simple personal lines policies to complex, non-standard commercial lines plans.
Built for ease of use – and for streamlined collaboration with all contributors to the development, configuration, and distribution cycle – the Product Machine is the one tool you need to improve your agility and responsiveness, regardless of your line of business.
The IAA Platform
Regardless of your market, the FJA Product Machine fully supports IAA product versioning as described in the Specification Framework Users Guide. Since products change over time, the Product Machine helps you maintain regulatory compliance. As you add new coverages, change underwriting rules, and/or update forms, it automatically complies with the latest regulations, based on date, geographic location, writing company, or just about anything you can imagine. It’s IAA’s perfect complement in optimizing product modeling, testing, and reuse.