BRMS in Insurance

As I was saying in the last post, BRMS can increase automation in any kind of Software application. How much to automate purely depends on IT department and their technology vision since automation level beyond 70 % can have related implications and requires IT savvy end users which might prove difficult proposition to maintain.    

Most of the IT folks are aware that Automation can lead to reduction of operational costs especially in services industries such as financial services, Healthcare, Travel etc. But no where in the world you will find regulations and market dynamics as complicated and challenging as Insurance.   

High levels of Automation are key weapon in overcoming the regulatory and market challenges faced by Insurance companies.  BRMS if properly used by Insurers especially P&C carriers can result in significant operational cost savings and provide good competitive positioning in the market.  But unfortunately majority of the IT departments around the world are yet to embrace this technology completely thus critical mass appeal for this technology is non-existent in this industry vertical.

BRMS can lead to…

One of the First things I realized after understanding the power of BRMS was that BRMS has deep strength to incorporate Business knowledge / business policy into any IT environment.  

Think about it, if most of the Organizational Rules and Policies are captured into the existing IT system then very little human touch is required to execute any organizational process which in turn would save substantial financial and human resources for any enterprise.    

More on this shortly

Yasu and BRMS

Its being quite sometime that I have written anything on my blog, I feel awkward about it but then transition blues hit me and it took a while to come out of it.

From a glamorous world of Outsourcing I joined a small company called “YASU” which means ”Yet Another Start Up”. Although this is a small company they do absolutely world class Software Product Development.

YASU’s products are called “QuickRules BRMS” (BRMS = Business Rules Management System) and this product help enterprises to separate and externalize business rules from the application code. Also this product come with integrated development and deployment environment which essentially means QuickRules BRMS have inbuilt tools required to write, edit, and test business rules. For lot of IT Folks understanding “what is a Business Rule?” itself is a challenge, thus understanding how to use and benefits from a BRMS product will a different aspect altogether. I would be writing more on this

Regards