At many financial companies we observe problems with calculation engines. For instance the actuarial calculation engines. In this case the actuary knows exactly how the calculation rules are meant to be, but the long chain between business and IT leads to suboptimal usage of this knowledge. This causes several problems.
Our calculation engine is a good example how model based working can help. We see that the problems mentioned above are caused because the domain expert, in this case, the actuary, is too far in the chain from the final product. They are extremely well educated and able to make a calculation engine on their own. They commonly make this kind of engine already in for instance Excel. Their expertise can be used much better.
Our platform enables domain expert to specify, document, test and eventually generate working software themselves. This is made possible by or model based working approach. Domain experts describe the calculation rules in a model using our domain specific language. Actuary can master this language after a training of only 3 days. The resulting models are sufficient for our platform to automate the rest of the process.
This approach has many advantages.
The calculation engine at customers
With our approach we have implemented calculation engines at several customers. For instance at Achmea, a big insurance company in the Netherlands. Our customers are always satisfied and they experience the advantage of our progressive approach.
Is the calculation engine a solution for your organization's problems? We would love to tell you more. Contact Machiel van der Bijl for additional information.