Property and Casualty (P&C) insurers today are facing changing business environment, new competitors, dismantling of trade barriers, stringent regulatory requirements, and customers’ increasing demands. One of the biggest challenges facing the P&C insurers is how to optimize their legacy systems to meet these business challenges. Legacy IT systems are often rigid and don’t provide the flexibility to adapt to the ever increasing market driven changes. These legacy systems don’t automate routine processes, are difficult to modify, and expensive to maintain.
FirstGen is NTT DATA’s answer to the challenges faced by P&C insurers. FirstGen is a new generation, web-based policy administration system, which covers the full cycle of insurance operations from point of sale right through to the general ledger. FirstGen supports all classes of P&C insurance to cater to the insurance industry’s requirements. FirstGen makes full use of parameters, tables and rule engines for the configuration of products including rating and authorization levels. The externalization of business rules, allow changes to be quickly made without any coding changes. FirstGen is flexible, scalable and can quickly be deployed. Additionally FirstGen supports multi-currency transactions along with multi-lingual capabilities.