Applicable to both Property & Casualty and Life & Annuity insurers, Lifecycle Manager gives insurers visibility into the processes that track and manage key tasks and participants involved in product development and management to reduce product development costs, eliminate bottlenecks to improve speed to market, deliver quality products, and increase revenue by enabling concurrent development and modification of products. Lifecycle Manager is a web-based "desktop" that includes automated, collaborative workflows; a product catalog that houses that "one version of the truth" for every product; product compare capabilities that enable you to easily identify key features for re-use or modification across multiple products; and the ability to test products before they are integrated into downstream systems such as billing, claims and print. Lifecycle Manager workflows support processes related to: launching new and modified products, including forms drafting and review; state filing package creation and review; and state (DOI) filing management.
With the advanced workflow automation, task management and assignment capabilities, users come to one place - their Lifecycle Manager inbox - to see the work that is assigned to them. Users can also access a Worklist that provides visibility into all requests in the system. Users can drill down to specific tasks and see at-a-glance which tasks are completed and which are still in progress. Management also has visibility into product development and can measure how long the product development process takes from conception to launch and rapidly identify and address any bottlenecks to efficiently balance workloads and minimize delays. With the appropriate user permissions, work can easily be reassigned to other users as needed.
According to Jeff Goldberg, Senior Analyst, Celent, "Authority Suite, Camilion's modern P&C policy administration system provides insurers with the added benefit of the product lifecycle management capabilities provided from Lifecycle Manager. Insurers have visibility into key processes like requesting a product change, work reassignment and creating a filing package, leading to reductions in product development costs and elimination of bottlenecks to improve speed to market. Product lifecycle management has traditionally been less of a focus for vendors, but will become increasingly important as carriers look to build solutions that integrate all of their processes across the business."
"Collaborating with CNA Insurance, we built Lifecycle Manager's advanced product development and management functionality and it is now available out-of-the-box with Authority Suite and ProductAuthority, said Ross Orrett, President & CEO, Camilion Solutions. "Highly configurable, Lifecycle Manager can also easily be customized to suit a customer's specific needs." "CNA are visionaries when it comes to product development and creating disciplined product management as a core competency," added Orrett. "With Lifecycle Manager, CNA's users now have a clearer understanding of their role in the product development process, using the workflows as a way to escape the ambiguity of the 'the email world', and have better visibility into the overall process. This automation is going to inform and enlighten all of their key stakeholders in product development about the real costs in time, effort and dollars of each step in the process. Lifecycle Manager provides the visibility CNA needs to accurately measure their success and a framework for driving continual refinements in their product development process and products."
Lifecycle Manager has received an enthusiastic response from CNA's diverse user community, which includes 300 underwriters, actuaries, product developers, product managers, business system analysts and executives. CNA expects to shorten their 54 to 100 day delivery times to 15 to 60 days.