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Faktor-IPS®: product management and development tool for insurances

Our philosophy: Modern product systems support the development or integration of operational systems!

That’s why it is possible to model insurance products with Faktor-IPS, but also develop the operative systems (contract, application, etc.) in a product-driven way at the same time.

Our customers appreciate this combination and use Faktor-IPS as follows:

  • For the development

    • of quotation systems
    • of policy system (example AOK Systems)
    • of mobile applications for policy or quotation

  • As a product management system
  • As a tool for the migration of product and policy data

Overview

Business Model Classes

Faktor-IPS provides the possibility to easily create and maintain business models based on the approach of the model driven software development.

Generate Java Codes

The models are generated in Java-code. It is thereby possible at any time to make modifications in the Java code or to change and extend the model

Define Products

Insurance products are created and maintained from business users in user friendly editors. The bases are the previously defined models.

Install Extensions

Faktor-IPS is very flexible and easy to extend due to the Eclipse plug-in. Several add-ons are available from different tasks.

Integrate into Applications

The business and product logic can be easily integrated into applications, from smartphones to mainframes.

Faktor-IPS is more than a product system. It is a tool for the development of insurance specific software, as for example quotation or policy systems. It provides editors to create, edit and document the business model. The program code, which can be the basis for different applications, is generated directly from this model. Building on the business model, products can be defined and maintained easily. Last but not least it provides different possibilities to test and document the products and models.

Well-known companies, both in Germany and abroad, have been using Faktor-IPS successfully for several years. Business and IT development teams work hand in hand in product development to improve time to market and make sure that the products meet our high standards and are launched quickly and efficiently.        

  • User friendly product maintenance: Create and manage business models and product knowledge easily.
  • White Labeling: Supports different sales channels and campaigns.
  • Multilingual: Faktor-IPS can be localized and the product data can be maintained in different languages.
  • Functional tests: Quality assurance of the product data thanks to to test support for the business team.

  • Java technology: Faktor-IPS is built on the widespread Java platform.
  • Model driven approach: Accelerated development and clean source code thanks to modelling and automatic code generation.
  • Flexible runtime components: The stable and performant runtime environment is in use on a variety of platforms and architectures of host systems and desktop.
  • Open source: Transparency and expandability characterize Faktor-IPS.

For more information, as well as download and installation guide, see www.FaktorZehn.org.