When automating decisions, insurers need a platform for defining the policies and regulations that drive those decisions. Choosing the right business rules management system is not enough to pick the right technology. The technology must be applied in the right way. Based on decades of experience developing decision management applications, FICO offers 11 steps to help insurers make the most of business rules. From understanding where to apply the technology in your business to strategies to operationalize analytics and continuously improve decisions, this white paper provides a step-by-step guide to ensuring success with your business rules management project. You'll learn the components of a successful business rules management project, including:
·How to frame the methodology for your business rules project ·How to facilitate changes in business rules and reduce risk by simulating the impact of new decision strategies ·Best practices in managing traceability, quality, and documentation ·The roles that verification and validation play in successful deployment
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