Meet SCORE: Our Insurance Product Configurator
Insurance teams know the frustration: whenever you need to adjust pricing rules or update underwriting criteria, you’re stuck waiting for IT resources that are already stretched thin.
An insurance product configurator can solve this problem by letting business users directly control pricing and underwriting rules. But most solutions present their own challenges, by being too technical for your team to use, or lacking the ability to handle complex calculations.
That’s where the SBS COmputation and Rules Engine (“SCORE”) comes in. As SpeedBuilder Systems’ proven insurance product configurator, SCORE puts the power back in your hands. With minimal training, your existing analysts and product managers can build, test, and deploy even sophisticated rating algorithms and underwriting logic using the same Excel-level skills they already have. No coding. No delays.
The Benefits of SCORE: The BindExpress Insurance Product Configurator
Many product configurators promise business control but fail to deliver the true autonomy expected by their users. Here’s what differentiates SCORE from typical vendor solutions—and why these differences matter to your day-to-day operations:
- Faster Market Response: Direct database integration eliminates the need for file synchronization. At the same time, the SCORE built-in test panel lets analysts validate changes immediately, instead of waiting for release cycles.
- Business-User Empowerment: Rating and underwriting rules use understandable language statements similar to Excel formulas. Your existing staff can handle changes quickly, without pulling developers off other projects.
- Lower IT Overhead: SCORE runs inside BindExpress with no additional servers or middleware, meaning fewer systems to maintain and simpler deployment processes.
- Governance & Auditability: Role-based access controls and complete version tracking provide the documentation trail your auditors expect without manual record-keeping.
- Reduced Compliance Risk: Automated form attachments based on built-in date controls eliminate the manual checklist errors that create regulatory exposures.
SCORE Product Configurator Tool Features
Understanding the operational benefits is one thing—knowing how insurance product configuration tools function in practice is another. SCORE’s design reflects real-world insurance workflows rather than generic business rule concepts. Here’s how:
1
Unified Model Workspace
Five synchronized panes—Tables, Objects, Configuration, Policy Data, and Functions—offer analysts comprehensive access to all rating variables in a single interface. That alone eliminates the usual need to switch between multiple screens and applications, which can hinder the efficiency of insurance product configuration work.
2
Excel-Driven Tables
Key/value columns and effective-date controls upload directly from master spreadsheets without proprietary scripting requirements. Your actuarial teams continue using familiar MS-Excel to feed updates into SCORE’s rate and support tables. This approach preserves existing version control processes and allows for rapid table updates without learning new data entry methods or losing historical documentation.
3
Rich Function Library
Pre-built date, numeric, string, and rule functions handle complex calculations without custom development overhead. These functions address common insurance product configuration scenarios—from territory adjustments to multi-factor discounts—allowing analysts to focus on business logic rather than technical implementation.
4
Automated Form Selection
Mandatory, coverage-driven, and additional-interest forms generate automatically based on policy characteristics, significantly reducing policy-issuance time and manual errors. This feature addresses one of the most time-consuming aspects of insurance operations while ensuring compliance consistency.
5
Built-in Test Panel
Import live policy data into the SCORE Test Panel in just a few clicks, or use manual inputs to view results in familiar rating worksheet formats. This testing capability allows immediate validation of changes without involving IT resources or waiting for deployment cycles. Your team can identify issues during development rather than discovering them in production.
6
Security & Permissions
Role-based access controls, field-level audit trails, and optional encryption of rating tables meet enterprise information security standards without creating administrative overhead. These security features integrate with existing authentication systems and provide documentation for regulatory compliance. You can also configure access controls to match your organizational structure and approval processes.
7
Minimal IT Support
Your business teams take charge of the entire process—from initial configuration to promoting changes to production environments. SCORE puts business users in the driver’s seat for configuration, testing, and rollout. Your IT team only needs to set up the initial environment and handle occasional maintenance. No more waiting in development queues or filing helpdesk tickets whenever you want to update a rule.
FAQs
What exactly is an insurance product configurator (IPC)?
An insurance product configurator is a dedicated system built specifically for insurance—standalone or embedded—allowing insurers to model rates, rules, and specify forms to use in their core policy administration system. Configurators skip the usual development delays that slow down product launches and updates.
What’s the primary business purpose of product configurators?
The main goal is to shorten product development cycles while maintaining regulatory compliance and competitive differentiation. Instead of waiting months for IT to implement pricing changes or new coverage rules, your business teams can test and deploy modifications in just days. This agility becomes vital when responding to market opportunities and competitive moves.
How much IT support does this actually require?
Routine product maintenance—rate updates, rule modifications, and forms requirements—is handled entirely by product managers and business analysts using familiar interfaces. Your IT team only gets involved in initial setup, infrastructure maintenance, and major system upgrades.
Does the SCORE solution require additional licensing?
Absolutely not! SCORE was built using open-source tools and technologies. Other than standard tools like MS-Excel, everything you need to control your products is included in your BindExpress license.
See It in Action
SCORE delivers something most carriers thought was impossible: the transparency and flexibility of robust insurance product configuration combined with enterprise-grade rigor. You get full visibility into your pricing and underwriting logic without sacrificing the security, governance, and support standards your organization requires.
Ready to see how this approach works with your actual insurance scenarios? Schedule a 30-minute executive Review today.