ILOG has announced that Hiscox, a UK-based insurer, is using ILOG JRules, a key offering in ILOG's business rule management system product line, to better support part of its growth objectives.
ILOG JRules is used as part of its service-oriented architecture (SOA) initiative for a wide range of insurance processes, one of which is new product development. In using ILOG business rule management system (BRMS), Hiscox will be able to easily test and create new insurance products, rates and risk classification tiers much faster.
Alan Millard, COO of Hiscox, said: Our aim is to provide a personal service to our customers while also making the most of technology in order to keep costs down. For us, managing costs is as important as managing risk if we are to remain competitive on premiums. ILOG will allow us to introduce efficiencies into our operations and the rules system provides the necessary flexibility to maintain our unique position.