As usual the main driving factor is growth. But it has to be growth that makes sense. That means that companies will often look for synergies in their acquisitions that allow them to merge corporate functions and/or specific operations in order to achieve economies of scale. These economies create greater profit potential and ultimately help companies achieve success.
Economies of scale can benefit companies in a number of areas, including technology. But how can a solution’s architecture help companies achieve economies of scale? The OPUS illustration solution from illustrate inc and its True Engine Architecture can deliver economies of scale that generate long-term benefits for their customers. With the True Engine Architecture, each company’s product rules, calculations, business rules and rounding requirements are completely separate from the product engines. This means that there truly is one engine for all companies.
As technologies change and new devices permeate the market, insurance companies are looking to take advantage of the new technologies and upgrade their solutions. In the past this would mean that each company was looking at a potential re-write of their illustration solution at significant costs whether they stayed with their current vendor or went to a new solution. Neither option was cost effective. With True Engine Architecture, illustrate inc’s OPUS Solution has the benefit of only having to convert a single instance of the engines in order to upgrade technologies. Once the engines are upgraded, each client can choose to take advantage of the new upgrade on their schedule. This means that rather than a re-write of their entire solution, the engine upgrade costs are spread across all clients, and each client is simply responsible for testing the upgrade. As new customers come on board the costs for future upgrades becomes a fraction of what it would have been.
Focus on your core strengths
Stop re-inventing your illustration solution every 3 to 5 years and start focusing on your key strength of creating new insurance products that generate revenue. By outsourcing your illustration solution to a solutions provider you get great technology today. By outsourcing your solution to illustrate inc and our OPUS platform with True Engine Architecture, you get best of breed technology today and peace of mind that your technology will deliver for years to come.
To find out more about OPUS and True Engine Architecture, visit www.illustrateinccom today.
1 Graphic source: PwC US Mid-Year M&A Outlook 2011 (http://www.pwc.com/us/en/press-releases/2011/pwc-us-mid-year-m-and-a-outlook-2011.jhtml)