Milpitas, Calif.-based Code Objects has unveiled Policy Enterprise, a policy administration system for the P&C industry that aims to improve efficiency through consistent business processes and shortened cycle times.
The new system features automated underwriting rules, channel-optimized user interfaces and pre-defined workflows. At the core of the system, CodeObjects says, is a next-generation enterprise platform that enables rapid development of service-oriented enterprise applications using open standards and non-proprietary technologies. The SOA-based system allows insurance business processes, including those locked in legacy systems, to be invoked as services, according to a CodeObjects press release.
"The CodeObjects software is a new entry to the policy administration market that provides a highly flexible and extensible technology platform for insurers," Jeff Goldberg, a senior analyst in Celent's insurance practice, said in the press release. "It represents the current trend away from systems requiring heavy vendor customization to modern, ultra-configurable solutions that provide an easier integration of business processes across multiple core components."