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Insuring Incentives

Insuring Incentives

Incentives and loyalty are definitely two intimately associated issues.

Play It by the Rules

Subramanian and his team explored all the possibilities available in the market and then zeroed in on a rules engine -- a novel concept for the insurance industry.

A rules engine is a graphical business rules development environment that reduces maintenance and enhancement costs by cleanly separating business rules from application code. It comes with productivity enhancements that detect errors and conflicts automatically. But Subramanian was not sure where to go for a rules engine that would fit his requirements.

"We evaluated ready-made packages in the market. These were inflexible and did not meet our requirements in features, availability and modeling capabilities. We needed something that was rapidly configurable and would work with minimum IT resources," explains Subramanian.

The company formed a cross-functional team, which comprised two to three people each from IT, business and sales support. The hunt for a vendor began.

The search ended at the doorstep of YASU Technologies, a Hyderabad-based rules management systems firm. YASU was just the perfect fit for ING Vysya Life.

But this was not a clear case of build or buy. It involved a little of both. "We used some of the resources from YASU to build the software and then when the IT team became proficient with it, it took over the project and is now taking care of the incentive schemes,' says Subramanian.

Proud with the implementation, and the fact that he took his company to a level few insurance companies in India have managed to reach, Subramanian was beginning to rest on his laurels. Blissfully unaware of what the future had in store -- a future that was going to give him sleepless nights.

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Tags softwareapplicationsBusiness Process Managementcorporate issues

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