ProductFoundry™ and GeniusBan™ Application Suite, pictured above, represent the market positioning of our solution. These are reference applications built on top of a framework that can be used to rapidly implement new financial and process applications. The underlying software architecture is based on a Model-View-Controller implementation. Straight Through has concentrated the business logic, product catalogue and underwriting in a rule set underpinned with FICO’s Blaze Advisor Rules Management System, enabling extremely high performance.

A key attribute of the solution is its product agility. All attempts to date at applying technology solutions to the complex life insurance transactional process result in software applications.

Rather than another tailored application, Straight Through has built a platform. The Straight Through ProductFoundry™ provides a portal that allows for the creation, modification, and deployment of life insurance products. This includes the configuration across the Illustrator, E-Application, Underwriting and Fulfilment. This delivers a competitive advantage to insurers in creating differentiated products faster and at a lower cost than competitors. Competitors cannot keep up. Competitors cannot afford to keep up.

The ProductFoundry™ is much more than just a series of templates. Insurance products are a combination of portfolios, policies, coverages, and cover options. Each of these has a combination of rules (and rule interactions) and financial calculations.

Straight Through's "innovation" is to capture "process, data, and rules" to form the basis of "Base Insurance Products". The ProductFoundry™ exposes these "Base Insurance Products" through the Insurer's Administration Portal. The Insurer's Product Manager or BA then combines and creates a specific branded product. This product is then released through an "Approvals Process" to allow the Branded Product to be published to a specific channel. Both the base and branded products are managed in a revision controlled repository with audit tracking.

These branded products are then consumed by advisors and users. The ProductFoundry™ supports Illustration, E-application, Underwriting, and Policy Fulfillment.

Straight Through Solutions has reduced the duration of the IT component of product launch from six months to weeks or even days.

COMMON ACROSS ALL MODULES:

• Multi-currency
• Multi-language
• Multi-country
• Multi-channel
• ProductFoundry™
• Easily scalable
• Choice of SQL database
• A framework that asists with meeting regulatory responsibilities

Straight Through received a 2009 Consensus Software Finalist award for the GeniusBan™ Application Suite and ProductFoundry™. This award recognises software innovation and organisations whose businesses are most likely to succeed. The judges are successful independent industry professionals.

Click the here for further information on the GeniusBan modules.