EbixInsurance from Ebix

A suite of products that streamline the insurance policy lifecycle from product configuration to underwriting, claims management, and policy administration, enhancing overall operational efficiency.

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Product analysis by function

Product Configuration Engines for Product Development

Flexible systems that allow insurers to define, configure, and modify insurance products without extensive programming, enabling faster time-to-market.
More Product Configuration Engines More Product Development ...

Product Definition and Management
(9 Yes /9 Known /11 Possible features)

Rule and Workflow Engine
(6 Yes /6 Known /10 Possible features)

Integration and Interoperability
(8 Yes /8 Known /8 Possible features)

User Experience and Accessibility
(4 Yes /4 Known /9 Possible features)

Pricing and Rating Engine
(4 Yes /4 Known /8 Possible features)

Testing, QA, and Sandbox Environments
(4 Yes /4 Known /8 Possible features)

Security and Compliance
(5 Yes /5 Known /8 Possible features)

Deployment, Scaling, and Performance
(6 Yes /6 Known /8 Possible features)

Analytics and Reporting
(5 Yes /5 Known /8 Possible features)

Extensibility and Customization
(3 Yes /3 Known /7 Possible features)

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No-Code/Low-Code Product Setup Ability to define and implement new insurance products or change existing products via intuitive interfaces without significant programming.		EbixInsurance emphasizes intuitive product configuration capabilities with minimal IT/developer intervention, aligning with low-code/no-code expectations.
Product Versioning Track and manage multiple versions of the same product, allowing for easy updates and rollbacks.		Documentation highlights support for multiple product versions and the ability to manage updates and rollbacks.
Unlimited Product Variants Supports the creation of numerous variants within a product line (e.g., differing terms, coverages, regions).		Ebix enables defining various product variants (coverages, terms, regions) under a product line as part of its configuration features.
Configurable Coverage Options Ability to define and modify coverage limits, exclusions, deductibles, and endorsements.		Configurable coverage options are a core capability, including coverage limits and endorsement management.
Reusable Product Components Enables the creation and use of modular components (rules, forms, clauses) across multiple products.		Ebix allows for reusable product components, such as rules and templates, across products.
Multi-line Product Support Supports configuration of products across lines such as Life, Health, P&C, Commercial, etc.		Multi-line support (P&C, Life, Health, Commercial) is cited in EbixInsurance suite's value propositions.
Regulatory Compliance Rules Ability to embed region/jurisdiction-specific regulatory constraints and guidelines.		Jurisdictional and regulatory rules are configurable and can be embedded for compliance.
Effective Date Management Define effective/expiry dates for products and product changes.		Effective/expiry date management is a standard feature in product setup.
Document and Artefact Management Manage and link documents (policy wording, brochures, terms) to configured products.		Document/Artefact management is available for linking policy wordings and brochures.
Bulk Product Update Capabilities Ability to update multiple products/fields simultaneously.		No information available
Product Cloning & Templates Create new products from templates or clone existing products for modification.		No information available

Graphical/Visual Rule Designer Drag-and-drop interface to create and modify business rules and product logic.		No information available
Advanced Underwriting Rules Configure eligibility, risk assessment, and pricing rules at a granular level.		Advanced underwriting and eligibility/pricing rule setup are mentioned as configurable.
Workflow Automation Design and automate product-related workflows (e.g., approval, issuance, endorsement).		Ebix suite automates product workflows (approval, issuance, endorsements).
Real-Time Rule Evaluation Rules are evaluated in real time during product configuration, quote, or issuance.		Rules and pricing are computed in real time upon quote or product change.
Testing and Simulation Tools Simulate how products and rules work under various scenarios before deployment.		Testing and simulation/sandbox tools are available to check rules before deployment.
Rule Version Control Track changes, rollback, and audit rule definitions over time.		No information available
Nested and Conditional Logic Support for complex, nested, and multiple branching rules.		Conditional and branching logic is supported for underwriting/pricing.
Custom Calculations Engine Ability to define custom formulas, calculations, or actuarial tables.		Custom calculation and formula support is included.
Rule Performance Metrics Monitor processing time or volume of executed rules.		No information available
Prebuilt Rule Libraries Out-of-the-box rule templates and libraries for common insurance logics.		No information available

API Availability RESTful and/or SOAP API endpoints for product data, pricing, and rule invocation.		REST APIs and integration endpoints cited in technical documentation.
Plug-and-Play Connectors Prebuilt connectors for common insurance systems (policy admin, CRM, payment gateways).		Ebix offers plug-ins/connectors for common industry systems (CRM, payment).
Data Import/Export Tools Bulk upload/download capability for product and rule data.		Bulk data import/export tools referenced as part of system admin utilities.
Webhook/Push Notification Support Real-time notifications to external systems on product changes or events.		Real-time webhook/notification options are referenced for integration events.
Batch Integration Processing Scheduled or triggered data integrations for product updates.		Batch integration and scheduled data updates are standard in policy administration.
Third-Party Data Service Integration Capability to pull data from external sources (for pricing, eligibility, etc.).		Pulling data from 3rd party/electronic rating agencies is supported.
Single Sign-On (SSO) Integration with common identity providers for unified login.		Single Sign-On (SSO) support is available through integration with identity providers.
Legacy System Support Ability to integrate with or migrate data from legacy insurance systems.		Migration/integration with legacy systems is a key service offering of Ebix.

Intuitive User Interface Modern, clear UI design for business users to configure and manage products.		UI is described as modern and business-user-friendly.
Multi-Language Support Platform and product definitions are available in multiple languages.		No information available
Accessibility Compliance Conformance to accessibility standards (e.g., WCAG).		No information available
Role-Based Access Controls (RBAC) Granular control of what different user types can access/change.		RBAC is mentioned as part of security and admin features.
Customizable Dashboards Personalizable dashboards to check product performance, usage, or status.		Customizable performance dashboards are available.
In-app Help and Tooltips Contextual help and guidance for complex configuration tasks.		No information available
Collaborative Editing Multiple users can work on product definitions simultaneously.		No information available
Bulk Edit Functionality Ability to update multiple parameters/products in a single operation.		No information available
Error Validation and Alerts Automatic error checking and alerts for invalid configurations.		Real-time error validation and alert system is referenced in UI descriptions.

Flexible Rating Models Supports multiple rating/actuarial models (e.g., tiered, dynamic, usage-based).		Multiple and dynamic actuarial/rating logic is configurable.
Dynamic Pricing Rules Update price calculations in real time based on changing inputs or risk factors.		Pricing changes are supported in real time based on rule evaluation.
Table Uploads and Management Manage and update actuarial or rating tables via spreadsheet or interface.		No information available
Versioned Pricing Algorithms Track historical pricing changes and revert as necessary.		No information available
Premium Calculation Speed Performance of premium calculation for complex products.		No information available
Simulation Tools Ability to model and test pricing outcomes before deployment.		Pricing and rules simulation tools exist within the configuration environment.
Pricing Audit Trail Retain detailed logs of pricing decisions for compliance and analysis.		No information available
External Rate Table Integration Import rating data from external regulatory bodies or partners.		Integration with external rate tables is mentioned as part of regulatory compliance.

Dedicated Sandbox Environment Safe, isolated environment for testing and experimentation without production impact.		Dedicated sandbox/test environments referenced in user documentation.
Automated Regression Testing Automatically test changes to rules or product configuration for unintended consequences.		No information available
Test Case Management Define, execute, and track test scenarios for product builds.		No information available
Audit Logs of Configuration Changes Detailed time-stamped logs of all changes made for traceability.		Comprehensive audit logs for product/rule changes are described.
Rollback/Restore Functionality Ability to revert to earlier configurations or rule versions.		Rollback/restore features part of change management within the admin suite.
User Acceptance Testing (UAT) Tools Provide tools that enable business users to validate the end-to-end product setup.		User Acceptance Testing (UAT) and business validation tools are referenced.
Performance Testing Tools Simulate high-volume transactions or peak loads.		No information available
Change Impact Analysis Pre-deployment analysis of potential impact or conflict of product/rule changes.		No information available

End-to-End Data Encryption Encryption of data in transit and at rest.		End-to-end encryption (in transit and at rest) is a promoted security feature.
Audit Trail and Logging Automated detailed logs of all user activities and changes.		Detailed audit logging is cited under compliance/security.
Role-Based Permissions Define who can view/edit which products and configuration areas.		Role-based permissions are configurable; only authorized can modify/view certain data.
Configurable Data Retention Policies Set rules for retaining and purging sensitive product and customer data.		Configurable data retention policies included for sensitive data.
Regular Security Updates and Patching Frequency of system security patching.		No information available
Compliance Certification Proof of compliance with major regulatory standards (GDPR, SOC2, etc.).		EbixInsurance advertises compliance with GDPR and other industry certifications.
IP Whitelisting/Access Control Ability to restrict admin or API access by network/IP.		No information available
Data Masking Mask sensitive client/product data for non-privileged users.		No information available

Cloud-Ready/Multi-Cloud Support Deployable in cloud, private cloud, or hybrid environments.		Cloud deployment options (including multi-cloud) are referenced in solution briefs.
Horizontal Scalability Ability to scale out to handle higher transaction volumes.		Ebix platforms are designed for horizontal scalability for high insurance transaction throughput.
High Availability/Uptime System design supporting minimal downtime.		No information available
Disaster Recovery Automated data backup and rapid recovery procedures.		Disaster recovery and backup/restore guarantees are part of Ebix cloud-service offerings.
Auto-Scaling Rules Automatic adjustment of resource allocation based on load.		No information available
Deployment Automation Tools Support for CI/CD pipelines and automated deployments.		CI/CD deployment automation is referenced for Ebix solution delivery.
Global Multi-region Support Ability to serve multiple geographic regions efficiently.		EbixInsurance is marketed as supporting global/multi-region operations.
Performance Monitoring & Analytics Real-time system health and performance dashboards.		Real-time system monitoring and analytics dashboards are available.

Product Performance Dashboards Visualize sales, claims, quotes, and profitability metrics for each product.		Dashboards for policy sales, quotes, and claims are built in.
Configurable Reporting Engine Build custom reports using all available product data.		Configurable report building is possible from within the product.
Real-Time Analytics Immediate feedback and reporting on product usage and performance.		Some real-time analytics and reporting available in dashboards.
Export to BI Tools Direct export/integration with business intelligence solutions.		API/data export supports integration to third-party BI tools.
Change Impact Reports Analyze business impacts of product/rule changes.		No information available
Audit and Compliance Reports Generate reports for regulatory or audit reviews.		Compliance/audit reporting features are described in solution documentation.
User Activity Reports Track product configuration activity by user/team.		No information available
Scheduled and Automated Reporting Auto-delivery of reports via email or dashboard.		No information available

Custom Plugin/Module Support Ability to develop and plug in custom modules or logic.		Support for custom modules/extensions mentioned in documentation.
Custom UI Extensions Ability to add or tailor user interface components.		UI components are extensible; partners can add custom views/controllers.
Scripting/Code Injection Capabilities Embedding custom scripts for advanced configurations.		No information available
White-labeling/Branding Options Customize platform branding for partners or distribution.		No information available
Configurable Notifications Custom alert or notification rules for product events.		Notification/alert rules (email, SMS, UI) can be configured.
Open API Specification Compliance Conforms to industry standards (e.g., OpenAPI, Swagger) for APIs.		No information available
Microsite/External Portal Generation Spin up product-specific portals or quote engines quickly.		No information available

EbixInsurance from Ebix

Product analysis by function

Product Configuration Engines for Product Development

Product Definition and Management (9 Yes /9 Known /11 Possible features)

Rule and Workflow Engine (6 Yes /6 Known /10 Possible features)

Integration and Interoperability (8 Yes /8 Known /8 Possible features)

User Experience and Accessibility (4 Yes /4 Known /9 Possible features)

Pricing and Rating Engine (4 Yes /4 Known /8 Possible features)

Testing, QA, and Sandbox Environments (4 Yes /4 Known /8 Possible features)

Security and Compliance (5 Yes /5 Known /8 Possible features)

Deployment, Scaling, and Performance (6 Yes /6 Known /8 Possible features)

Analytics and Reporting (5 Yes /5 Known /8 Possible features)

Extensibility and Customization (3 Yes /3 Known /7 Possible features)