INNORULES SUPPLIES DIGITAL PRODUCT MANAGER

INNORULES SUPPLIES DIGITAL PRODUCT MANAGER FOR JAPANESE INSURANCE COMPANY'S INNOVATIVE DIGITAL TRANSFORMATION PROJECT

KUALA LUMPUR, July 15 (Bernama) -- INNORULES has announced supplying the company’s Digital Decision Manager (DDM) to the future innovation project of one of Japan’s biggest insurance companies, with the first stage system opened.

INNORULES is a professional developer of a Business Rule Engine (BRE) solution whereby BRE simplifies tasks and improves the speed and efficiency of system building.

“Based on the deals with the Japanese company and domestic companies, we are planning to expand into the major South East Asian countries including Indonesia and Malaysia that are preparing for new financial projects,” said INNORULES’ Chief Executive Officer Kil Kon Kim.

According to a statement, the Japanese company has been preparing for this next-generation project since 2016. It is the biggest project in 30 years with an investment of about US$1.746 billion. (US$1 = RM4.197)

The Japanese company first met the INNORULES product when they visited Korea to benchmark Korean insurance companies and it eventually chose INNORULES after conducting the Benchmark Test.

The Japanese company adopted INNORULES’ Digital Product Manager (DPM) for their key tasks and simplified their merchandise structures such as insurance sales, insurance premium receipt, and premium settlement process.

In addition, INNORULES played a role in the core of the project by improving the performance of the client’s legacy system, which comprises massive accumulated data.

The newly launched system utilised INNORULES’ DPM to standardise common tasks and separate product development processes according to the characteristics of products.

The Japanese company is expecting to reduce the time to develop and modify a product by one-third from almost a year. The company plans to introduce the newly adopted system to their car insurance and fire insurance system by 2025.

INNORULES is planning to expand into the South East Asian market upon this opportunity.

-- BERNAMA