(2)
Overview: Managing business rules gives insurers control over high-volume operational decisions in areas from underwriting to product configuration to claims management, and gives you the agility you need in a dynamic marketplace. Based on decades of experience developing decision management applications, FICO has developed 11 steps to help you make the most of business rules. These include:
• Picking the right applications. Business rules are a powerful tool for building smarter decisions into your applications, but are better suited for some applications than others.
• Following a process. Like any development technology, business rules work best when you have a structure and follow a suitable methodology.
• Writing the right rules, the right way, and reusing them. Ensure your business rules are concise and atomic and use the right metaphor to manage them. Take advantage of your ability to manage them for reuse and to systematically verify, validate and simulate rules to get the result you want.
• Operationalizing predictive analytics. Business rules are an ideal platform for putting predictive analytics to work to improve the effectiveness and precision of decisions.
Discover the 11 secrets to business rules success. Whether you are considering using business rules or are already a practitioner, this paper will help you advance your success.
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