Introduction to the product model

The PolicyCenter product model is central to configuring a line of business. The product model defines the products that insurance companies offer through PolicyCenter. PolicyCenter stores product definitions as patterns and then uses the patterns during the submission process to generate instances of policies or the subcomponents of policies.

The product model provides you with the means to create insurance products that meet the precise needs of your organization, your market, and your customers. The product model enables you to define a product, select a policy line, and offer specific coverages each with specific coverage terms. The product model defines the coverables that each product can cover. For example, an auto policy provides collision and uninsured motorist property damage coverages. A property policy provides fire, contents, and liability coverages.