Sold by: C2L BIZ Solutions
SymbioSys Product Configurator-as-a-Service
Overview
SymbioSys Product Configurator as a Service enables Insurers to quickly configure Life, Annuity, Pension and Health products with an ability to integrate their front end tool. It provides flexibility for Insurer or IT solution provider to develop the front end mobile app or web solution powered with proven Product Configurator to enjoy best of both worlds. Said service comes with ready to use APIs and SDKs for building UI, Illustration modeling, validations for data capture etc.
SymbioSys Product configurator has configured over 500 base plans and 1000 plus riders so far and caters to the need of global insurance markets.
SymbioSys Product Configurator as a Service enhances the sales velocity of a new product and digitalization thru its capabilities like Ability to manage sales process in connected and disconnected mode Comprehensive set of APIs for building UI, handling validations related to minimum and maximum limits for Age, Sum Assured or face amount, Premium, Term, Payment Term, top up amount, withdrawal amount, fund allocation percentage, computation of Premium, Sum Assured or face amount, generation of Sales Illustration for New Business and In force Business
Ability to define packaging of various sales offerings within the Product by using Plan Options
Ability to configure applicable features for the Product like Joint Life, Supplementary Life, Multi Life, Withdrawal rules, Top up, Pre payment, Funds, limits, risk models etc.
Unique modeler to configure complex Actuarial calculations, illustration models, rules used to generate illustrations or capturing application
Ability to engage customer with Solvers to take informed decision on the right cover e.g. Target Fund Solver, Withdrawal Solver, Fund Sufficiency Solver, Pre payment Solver, Premium Offset Solver etc. thus proactively addressing customer objections for faster sales closure.
Ability to configure various rules, define features related to Sales Illustration and eApplication thru its powerful rule engine Enables product cloning to quickly launch product variants or versions simultaneously, targeting specific partners, seasonal campaigns and market segments
Ability to maintain product versions for regulatory compliance with effective date
Handshake seamlessly with digital ecosystem with ready real time API interfaces for necessary validations and computations.
Highlights
- Unified Product Configurator with availability across diverse digital platforms with ease of integration
- Ease of packaging various sales offerings within same product, Ease of configuring Riders along with Plan-Rider association rules
- Ability to configure products for Joint life, Supplementary life, multi-lives, Availability of solvers for engaging customers for informed decision making
Details
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Pricing
Pricing is based on the duration and terms of your contract with the vendor, and additional usage. You pay upfront or in installments according to your contract terms with the vendor. This entitles you to a specified quantity of use for the contract duration. Usage-based pricing is in effect for overages or additional usage not covered in the contract. These charges are applied on top of the contract price. If you choose not to renew or replace your contract before the contract end date, access to your entitlements will expire.
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Dimension | Description | Cost/month |
|---|---|---|
MonthlyImplementation | Subscription Fees - During Initial Implementation | $13,500.00 |
Monthly Fees Go Live | Subscription Fees - Post Go Live | $5,500.00 |
Dimension | Cost/unit |
|---|---|
Initial Setup Fees | $12,100.00 |
Dimensions summary
This contract-based service bills across three separate dimensions that follow the project lifecycle. You pay a one-time Initial Setup Fee to onboard the product configurator. During the build phase, you pay the Subscription Fees - During Initial Implementation on a monthly basis. Once the solution is live, billing shifts to the Subscription Fees - Post Go Live, charged monthly as your ongoing running cost. These dimensions are sequential stages rather than tiers you choose between. Together they cover setup, implementation, and steady-state operation of the SymbioSys Product Configurator-as-a-Service.
Top-of-mind questions for buyers
The Initial Setup Fee is a one-time charge to onboard the product configurator. You pay it once at the start. The two subscription dimensions are recurring monthly charges that follow afterward, so the setup fee does not repeat month to month.
No. The two monthly fees apply in sequence, not together. You pay the Subscription Fees - During Initial Implementation while the solution is being built. Once it goes live, that charge stops and the Subscription Fees - Post Go Live begins. Only one monthly subscription applies at any given stage.
It covers steady-state operation of the product configurator after launch. This includes the ready-to-use APIs and SDKs for computing premiums, generating illustrations, and validating captured data. It supports availability across web and offline mobile apps in connected and disconnected modes. It is your ongoing running cost.
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