Global insurer Hiscox has implemented ILOG JRules to
support its service-oriented architecture (SOA) infrastructure,
which is drivingfaster product developmentand company
growth,
ILOG JRules is used as part of the company's initiative for a
wide range of insurance processes, one of which is new
product development.
In using ILOG's technology, Hiscox will be able to easily test
and create new insurance products, rates and risk classification
tiers much faster.
ILOG's system has been used to enhance a number of in-house IT
systems, which were not sufficiently flexible to meet Hiscox's
long-term business objectives.
Prior to the ILOG JRules implementation, it took Hiscox more
than six months to launch new products.
Soon, business rules will be exposed as decision services are
reused across different channels so that regardless of where the
transaction comes from, the applicable set of business rules are
enforced for greater consistency, transparency and speed.
As a result, the time-to-market for new products is expected to
improve, enabling Hiscox to achieve speed-to-market gains of more
than 50%.
Alan Millard, chief operating officer at Hiscox, said, "ILOG
will allow us to introduce efficiencies into our operations and the
rules system provides the necessary flexibility to maintain our
unique position.