Ravello Solutions, a US-based provider of policy, claims and billing administration system to the insurance industry, has introduced a new licensing structure called 'Ravello flex-option pricing' for all of its system suites.
According to Ravello, the new flex-option pricing is designed for insurance companies which targets ASP and SaaS solutions for their initial financial flexibility and lower upfront capital requirements.
Andrew Serowitz, president of Ravello Solutions, said: “While we recognize that in many industries ASP and SaaS models are an efficient and cost effective alternative to the standard licensing model, these structures often force insurance carriers to operate using the vendor’s generic workflows, configurations and predetermined methodologies.”
“Smaller or start-up carriers are often forced to trade off between not differentiating their products for financial reasons or have to make a substantial upfront investment to achieve their product differentiation. We don’t believe insurance companies should have to make that trade off.”