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Faktor-IPS is more than just a product system. It is a tool for developing insurance-related software, e.g. quotation and policy management systems. Faktor-IPS offers editors for creating, editing, and documenting the business model. Program code is generated directly from the model, which can be used as basis for different applications. Based on the business model, products can be easily defined and maintained. Last but not least, Faktor-IPS offers various options for testing and documenting products and models.
Modeling Business Classes
The insurance-related model for the contract and product components are created, documented, and maintained via own editors.
Generating Java Code
Based on the approach of model-driven software development, the insurance-related model is generated in source code. The code can be modified at any time to enhance the model.
Defining Products
Business users create and maintain insurance products in user-friendly editors. The predefined models form the basis here.
Setting up Add-ons
Faktor-IPS is very flexible and easy to enhance thanks to the plugin mechanism of Eclipse. Various add-ons are already available for different activities.
Integrating into Applications
The business and product logic are easy to integrate into applications, from smartphone to mainframe.
Faktor-IPS: Product System for Insurances
Faktor-IPS has been in productive use at various insurance companies since 2005. It is also the basis for other products of Faktor Zehn GmbH.
Faktor-IPS enables you to develop various insurance-related applications, such as policy management systems, quotation systems, or mobile apps. During the application development process, it serves as accelerator and also as product system. In addition, Faktor-IPS can also be used as product system only and as a tool for configuring existing policy management systems.
Faktor-IPS Explained in Three Minutes
Find out more about Faktor-IPS in this short 3-minute video. More videos and tutorials are available in our Documentation.