According to an Exigen statement, the product allows customers to select and deliver the business insurance coverages they wish to offer in any country provided for in a comprehensive global set of 85 coverages for over 600 occupation types.
The International Business Insurance product is available with PolicyCore, a component of the Exigen Suite of core processing systems for policy administration, billing and claims management.
The first client implementation is scheduled for the summer of 2012.
The new product was designed in collaboration with commercial lines managers operating in multiple regions worldwide. Their input enabled the capture of a detailed set of product attributes and logic associated with coverages offered in Asia, Oceania, Latin America, the Middle East and Europe.
According to Exigen, customers stand to gain product flexibility and benefit from the provider’s global software-as-a-service (SaaS) deployment of PolicyCore to roll out products from a platform that can serve multiple countries from a single data center and easily scale to market demand.
“The availability of an extensive business insurance product with PolicyCore adds significant product options for insurers writing commercial lines in several geographies,” said Donald Light, Celent senior analyst.
