About Faktor-IPM
Faktor-IPM is an enterprise insurance policy management solution developed by Faktor Zehn to help insurers modernize legacy systems and manage complex policy lifecycles efficiently.
Faktor-IPM is an enterprise insurance policy management solution developed by Faktor Zehn to help insurers modernize legacy systems and manage complex policy lifecycles efficiently. Designed primarily for property and casualty, automotive, and commercial insurance providers, the platform centralizes policy administration from creation and adjustments to renewals and cancellations. Its structured, productivity-focused interface allows insurance technicians to navigate large volumes of contract data easily, while tools such as the Delta Discovery view enable side-by-side comparisons of policy versions, highlighting even small changes. One of its most distinctive capabilities is two-dimensional history management, which ensures every policy state is fully traceable and audit-proof, making compliance and record tracking significantly easier. The system also supports retroactive policy changes, automatically merging historical records and recalculating billing adjustments when updates are applied to past effective dates. Performance is optimized for large-scale operations through dark processing, allowing high-volume transactions to be completed automatically without manual intervention.
Pros & Cons
- +Open-source core architecture reduces vendor lock-in and allows customers flexibility for independent system modifications.
- +High dark-processing rates automate workflows and significantly reduce operational costs per processed policy.
- +Automatically merges policy versions during backdated adjustments, saving administrative time and preventing record inconsistencies.
- −Platform built entirely in Java requires development teams with strong Java expertise for customization.
- −Migrating large volumes of legacy records into the two-dimensional history model is technically complex.
- −Prebuilt templates and regulatory structures are optimized mainly for the German insurance market environment.
Features
Key features
- Two-Dimensional History Management
- Tracks every policy condition in an audit-proof manner, allowing for a complete trace of every version over time.
- Automated Dark Processing
- Increases operational efficiency by enabling a high degree of end-to-end automation in business processes.
- Integrated Sample Content
- Provides pre-built content for automotive, commercial, and SHU (Property/Liability/Accident) sectors to accelerate implementation.
- Retroactive Change Support
- Automatically merges different versions of a policy when changes are applied to past dates out-of-the-box.
- Delta Discovery Engine
- Enables detailed version comparisons down to the attribute level to identify specific changes between policy statuses.
Additional features
- Two-Dimensional History Management
- Manages policies in an audit-proof way where every historical state and condition can be fully traced.
- Retroactive Changes
- Supports the application of changes to past dates with automatic merging of version statuses.
- Delta Discovery
- Compares any two version statuses to provide specific information on changes down to the individual attribute level.
- Billing Component
- Handles pro-rata policy billing and enables the transfer of postings to a collection system.
- Fast Time-to-Market
- Allows for the quick introduction of new products and product generations in just a few steps.
- SHU Private Line Sample Content
- Includes pre-configured content for household, residential building, liability, accident, glass, travel, and legal protection.
- Business Line Sample Content
- Provides pre-built models for commercial buildings, content insurance, public liability, and group accidents.
- Motor Vehicle Sample Content
- Offers specific German market content including eVB, VWB integration, and SF (no-claims) administration.
- Levitation Management and Sharing
- Allows users to suspend edits and forward them to other team members or supervisors for approval.
- Multi-Client Capability
- Supports the management and separation of multiple tenants or clients within a single software installation.
Pricing
Countries & Languages
Interface languages
Billing currencies
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About Faktor-IPM
Faktor-IPM is an enterprise insurance policy management solution developed by Faktor Zehn to help insurers modernize legacy systems and manage complex policy lifecycles efficiently.
Faktor-IPM Details
Faktor-IPM's In-App Market Place
Does Faktor-IPM have an in-app market place?
Yes
How many Mini-Apps in the marketplace?
0
Mini Apps
Pricing Options
Accepted Payment Currencies
USD ($), EUR (€), GBP (£), AUD ($), CAD ($), JPY (¥), CHF (CHF), CNY (¥), INR (₹), RUB (₽), BRL (R$)
Pros & Cons
- Open-source core architecture reduces vendor lock-in and allows customers flexibility for independent system modifications.
- High dark-processing rates automate workflows and significantly reduce operational costs per processed policy.
- Automatically merges policy versions during backdated adjustments, saving administrative time and preventing record inconsistencies.
- Platform built entirely in Java requires development teams with strong Java expertise for customization.
- Migrating large volumes of legacy records into the two-dimensional history model is technically complex.
- Prebuilt templates and regulatory structures are optimized mainly for the German insurance market environment.
Faktor-IPM's Support Options
Email Address
info@faktorzehn.deContact
+49 89 5203110Faktor-IPM's Alternatives
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