Iris cuts launch times

Iris Software said a home-insurance client cut product launch times by 40% after linking its policy administration system to outside services through no-code application programming interfaces, or software connectors. (irissoftware.com) In Iris’s case study, the client used Unqork, application programming interface gateways, and both REST and SOAP connections to tie the policy system to external services without hand coding each link. Iris said the project also raised customer satisfaction by 25%. (irissoftware.com) A policy administration system is the back-office software that creates policies, applies rates, issues documents, and handles changes after a sale. When insurers add a state, product, or distribution partner, that system usually has to connect to pricing, underwriting, document, and compliance tools before a launch can go live. (irissoftware.com) Those connections matter because U.S. insurers do not launch homeowners products with one national filing. They submit rate and form filings to state regulators through the National Association of Insurance Commissioners’ System for Electronic Rate and Form Filing, known as SERFF, which the platform says is designed to speed market entry while preserving regulatory review. (serff.com) Iris is pitching that integration work as part of a broader insurance technology business built around cloud migration, modernization, and faster product design. On its insurance services pages, the company says insurers face pressure to launch on time as markets and risks keep changing. (irissoftware.com) The timing lines up with a property-insurance market that has been shifting state by state. In California, for example, insurers have pulled back or adjusted their homeowners business in recent years, while others have moved to expand again under revised rating plans and market reforms. (mckinsey.com, newsroom.farmers.com) Iris has published a second insurance case study with a similar pitch: a low-code policy administration platform on Amazon Web Services that it said helped a home-insurance enterprise support partner carriers, speed policy issuance, and grow issuance volume by 200%. (irissoftware.com) The company did not name the insurer in the 40% claim, disclose the before-and-after launch timeline, or publish an independent audit of the results in the case study. What it did publish is the bet behind the project: insurers that can connect old core systems faster can file, test, and roll out new homeowners products with less delay. (irissoftware.com)