SVT Inc.
PRODUCTS
PRODUCTS
SVT Policy Writer
In what could well be a national first for the Insurance Industry SVT has forged an ingenious collaborative tool to co-ordinate the entire framework of business process for an Insurance Institution.
Starting from Opportunity Identification the Kenos Policy Writer, as the tool is called, pursues new business opportunities as well as renewals, gathering and tabulating all relevant information along the way. The latter or secondary stage is called the Gather Information stage.
Once all information is harnessed the process moves to the next step of Performing Analysis whereby the Insurance Underwriter is helped to arrive at a decision whether or not cover is feasible.
The penultimate stage of SVT Policy Writer is the Create/Revise Proposal Process. The underwriter creates one or more quotes for insurance for presentation to the distributor. The quotes each varying by way of terms and conditions, endorsements and premiums are released to the Distributor in the form of a quote letter or proposal.
Finally the underwriter binds the selected quote with an Insurance Policy, which is a legally binding instrument between client and insurer. The system generates a policy number, a binder letter and a bill for the policy to be sent to the distributor.
The final policy is sent to client with copies to all state-mandated offices.
In what could well be a national first for the Insurance Industry SVT has forged an ingenious collaborative tool to co-ordinate the entire framework of business process for an Insurance Institution.
Starting from Opportunity Identification the Kenos Policy Writer, as the tool is called, pursues new business opportunities as well as renewals, gathering and tabulating all relevant information along the way. The latter or secondary stage is called the Gather Information stage.
Once all information is harnessed the process moves to the next step of Performing Analysis whereby the Insurance Underwriter is helped to arrive at a decision whether or not cover is feasible.
The penultimate stage of SVT Policy Writer is the Create/Revise Proposal Process. The underwriter creates one or more quotes for insurance for presentation to the distributor. The quotes each varying by way of terms and conditions, endorsements and premiums are released to the Distributor in the form of a quote letter or proposal.
Finally the underwriter binds the selected quote with an Insurance Policy, which is a legally binding instrument between client and insurer. The system generates a policy number, a binder letter and a bill for the policy to be sent to the distributor.
The final policy is sent to client with copies to all state-mandated offices.
Design and Architecture
In the first iteration of the design of SVT Policy Writer project, the core team developed a process flow diagram detailing the workings of the underwriting process. The team built a high level process flow that showed the overall picture of how business is conducted during the underwriting process; the team then developed more in-depth diagrams detailing how specific areas of the underwriting process functioned.
Based upon these process flow diagrams, the team developed more refined models of how business is conducted at Insurance institutions. It is based upon these later modeling techniques that the majority of the design specifications are derived. However, the process flow portion of the design provided a common base for the team to build the more refined models.
High Level Process Flow
The High Level Process Flow details how the major functions of the business are performed, and in what order. It is not meant to limit the workflow to a specific model, but rather to form a common picture of how the business runs under normal circumstances.
The High Level Process Flow diagram covers the business process from the inception of an opportunity to the issuance and servicing of a policy.
When the proposal has been created to meet the distributors needs, the underwriter reviews the underwriting and the proposal with their underwriting manager. The manager views the analysis and the details of the underwriting and possibly recommends changes to the quotes. If changes have been recommended, the underwriter goes back to Create/Revise Proposal to change the quotes that were generated.
In the first iteration of the design of SVT Policy Writer project, the core team developed a process flow diagram detailing the workings of the underwriting process. The team built a high level process flow that showed the overall picture of how business is conducted during the underwriting process; the team then developed more in-depth diagrams detailing how specific areas of the underwriting process functioned.
Based upon these process flow diagrams, the team developed more refined models of how business is conducted at Insurance institutions. It is based upon these later modeling techniques that the majority of the design specifications are derived. However, the process flow portion of the design provided a common base for the team to build the more refined models.
High Level Process Flow
The High Level Process Flow details how the major functions of the business are performed, and in what order. It is not meant to limit the workflow to a specific model, but rather to form a common picture of how the business runs under normal circumstances.
The High Level Process Flow diagram covers the business process from the inception of an opportunity to the issuance and servicing of a policy.
When the proposal has been created to meet the distributors needs, the underwriter reviews the underwriting and the proposal with their underwriting manager. The manager views the analysis and the details of the underwriting and possibly recommends changes to the quotes. If changes have been recommended, the underwriter goes back to Create/Revise Proposal to change the quotes that were generated.
SVT iWeb Technology
A solid foundation for delivering flexible, high quality services for Application Software.
In today’s hyper dynamic marketplace real value lies in market trajectory not market position.
We can help you soar ahead of the competition in delivering application performance with a flexible and adaptable architectural framework that scales to meet your IT requirements.
The totality of our expertise and our passion for breakthrough technology would invest your IT infrastructure with the following outstanding characteristics:-
The following architecture services are available:-
A solid foundation for delivering flexible, high quality services for Application Software.
In today’s hyper dynamic marketplace real value lies in market trajectory not market position.
We can help you soar ahead of the competition in delivering application performance with a flexible and adaptable architectural framework that scales to meet your IT requirements.
The totality of our expertise and our passion for breakthrough technology would invest your IT infrastructure with the following outstanding characteristics:-
- Integration of diverse systems, software, data, networks and legacy assets making them accessible via the Web.
- Deliver high quality connectivity to any customer, business partner, employee or computer anywhere, at any time, on any network device.
- Provide new capabilities quickly and efficiently without requiring developers to re-code and re-deploy each new service for each hardware platform
- Promote collaboration among multiple partners in your value chain by promoting common standards and frameworks
The following architecture services are available:-
- SVT Architectural Services offers matchless architectural finesse, addressing the entire stack from the platform on up to the application layer. The service consists of technology strategy, assessment and roadmap to build a customized architectural plan that would meet your long-term technology strategy and provide for sustained business growth.
- SVT iWeP Framework helps you to plan, implement and manage a complete custom application platform architecture that lays the proper foundation to manage cost, improve time-to-market and protect past and future investments in IT.
SVT Agile Development Tool Kit
In today's eTrading environment, a trading system often needs to connect to multiple exchanges in different geographic locations. In the situation of Fixed Income systems, it often needs to connect to broker markets,Futures exchanges, and various dealer-to-client markets such as Bloomberg, TradeWeb, MarketAxes, BondVision,where the nature of connectivity protocol, message flow, and interaction between dealer/client and exchange is quite different. This complexity, combined with the handling of market data and processing transactional order message in a real-time environment,presents a unique and challenging task to all eTrading system developer to so diverse connectivity protocols, message validation/enrichment, and transformation can be handled in systematic and organized fashion.
In today's eTrading environment, a trading system often needs to connect to multiple exchanges in different geographic locations. In the situation of Fixed Income systems, it often needs to connect to broker markets,Futures exchanges, and various dealer-to-client markets such as Bloomberg, TradeWeb, MarketAxes, BondVision,where the nature of connectivity protocol, message flow, and interaction between dealer/client and exchange is quite different. This complexity, combined with the handling of market data and processing transactional order message in a real-time environment,presents a unique and challenging task to all eTrading system developer to so diverse connectivity protocols, message validation/enrichment, and transformation can be handled in systematic and organized fashion.
Design and Architecture Agile Development Tool Kit (ADK)
- Chooses pure Java J2SE technology and messaging based integration approach for its platform neutrality and readily available resource pool.
- Recognizing the diversity of client internal architecture standard, ADK provides a lightweight yet flexible platform to allow developers to focus on business logic of our clients, not commoditized technology such as network connectivity and generic protocol translations, which requires a lot of resource to maintain.
- Specifically, ADK provides a Spring like integration framework, which you can use to develop Web-based, transactional, and real time application. Our framework has been widely adopted by financial, insurance, defense, and IT industry to streamline mission critical application development, promote code reusability and free up resource to focus on more business functions.
Functions and Features
- Leverage Spring Integration framework, with focus on modularizing data transformation, protocol integration, assembly framework to integrate with business logic, and service framework for client system integration: -
- Data Transformation: Adapter to support data normalization and data conversion process between different data format. Provide out-of-box support for XML, FIX, name-value pair, fixed-length format, JSON object, CSV, etc.
- Protocol Integration: We have support for the following protocols, such as HTTP, FIX, Tibrv, JMS, ActiveMQ, TCP/UDP, mail, including certain exchange protocol such as Bloomberg, Itch, Ouch.
- Assembly framework: We provide framework to allow flexibility for choose data transformation, I/O protocol, to be fully integrate with client in-house business logic. Business logic is completed separated from commoditized connectivity and protocol details, yet it's centrally managed by assembly framework to promote reusability.
- Service Monitoring Framework to allow client to leverage existing infrastructure to seamlessly integrate with adapters and various protocols, without the need to completely change to a new architecture.
Value Proposition
- Easy to Adopt: Out of box support for large protocol and data types, with complete flexibility for clients to plug in existing system service framework to minimize integration overhead. Business logic and internal data types are protected without any modification.
- Easy to maintain and enhance: Most data transformation and protocol details are abstracted to configuration file. Adding or amending existing transformation logic can be achieved via configuration file change without the need to modify code.
- Focus on business logic: We create assembly framework to abstract connectivity and protocol details from business logic. Developer can focus on business logic.
- Performance Driven: ADK allows performance to be fine-tuned at different level/components to maximize system performance.
Use Case Study
- Single backend application to integrate with different front-end, such as .Net, Web, Mobile, etc.
- Build out exchange connectivity for market data, order exchange, and trade feed.
- Leverage this as a single STP framework to source data from exchange and STP to downstream.
- Web server integration with various data sources, such as cache, Database, messaging platform, or Big Data
