While your clients may be fuzzier than those of human health insurers’, your business and technology challenges are similar, if not more complex. Pet health insurers must take into consideration factors that insurers of humans do not, such as characteristics of hundreds of species and breeds and transfer of ownership.
InRule Technology® is helping leading Pet Insurers automate and streamline mission critical business decisions within core business processes, including:
The Premier .NET solution for authoring, managing and executing business rules, InRule® delivers better business decision management with consistent, transparent and shareable decision logic. Business rules separates core decision logic from the rest of the application code, providing a window into an application and making it easier to find, update and manage frequently changing business logic – without custom programming.
The result: more accurate and more consistent decisions, lower maintenance costs and faster time to value.
Alex Krooglik, co-founder Embrace Pet Insurance
Pet Insurers including Embrace Pet Insurance have leveraged rule technology to enable subject matter experts to author, audit, and maintain the decision logic that powers critical business processes.
InRule helps codify the business rules that drive rating and underwriting and ensures that the logic is applied consistently. And because the logic is maintained outside of code by subject matter experts, it can be updated easily as new information becomes available, eliminating application change request backlogs and ensuring the most effective rating and risk management.
To help pet owners quickly determine their pet’s eligibility and the cost of insurance when visiting an insurer’s website, InRule powers the decision-making in a simple workflow to quickly determine whether a pet can be insured. If the pet can be insured, a more complex rule-driven application provides real-time, online quotes.
One of the most strategic uses of InRule at pet insurers is claims processing. As in human health and P&C insurance, accurate and effective claims processing reduces the cost of processing each claim and increases customer satisfaction. Because rules written in InRule are easily understandable by Subject Matter Experts, insurers can be certain that the rules being executed represent the logic intended by the Business. InRule-based claims processing helps automate the majority of claims processing, while identifying claims that need to go to an adjuster. For claims requiring additional scrutiny, InRule can bring consistency to claims adjustments by codifying the decision-making process of adjusting a claim.
Unlike humans, pets are sometimes transferred from one owner to another. InRule makes it easy to determine whether a policy is eligible for transfer and, if so, what actions must be taken to complete the transfer.
Because policies can take many forms—an annual policy or a monthly policy with auto-renew for example—the rules around cancellation are complex. InRule provides a consistent and transparent way to determine the actions to be taken upon cancellation, including those around credits or outstanding payments.
Whether marketing additional insurance products or marketing products and services of a partner, Pet Insurers can leverage rules to drive specialized promotions using any number of data points and logic. Download Free Trial