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Instant application of financial products to IT systems

■ 2008 Hit Product Consumer Recommendation Sector - Product Factory

INNORULES'(CEO Kil-Kon Kim) 'InnoProduct' has won the Consumer Recommendation Award in the Product Factory category.

Recently, the need for quick application of financial products to the system is emerging to respond promptly to the rapid changes in the domestic and overseas financial environment and the diverse needs of customers. INNORULES developed 'InnoProduct', a product factory solution based on 'InnoRules V5.4', a business rule engine to meet these needs.

This product can significantly strengthen competitiveness and reduce system management costs by allowing financial firms such as insurance, securities, credit cards, and banks to quickly reflect changes to the system and sell products promptly.

The CEO of INNORULES, Kim Kil-Kon said, "The product factory is vital for the insurance products, that are planned by the business department, to be quickly reflected in the IT system."

InnoProduct is designed to apply new concepts for future products without system changes and to express various product characteristics by using the flexible product model of the object-oriented concept researched and developed by INNORULES.

Since its initial product launch in 2006, INNORULES has received good customer reviews by supplying its solutions to a number of life and non-life insurance companies, starting with supply to domestic life insurance companies' next-generation system construction projects. INNORULES' solutions accommodated customers' various requirements and made significant progress in product functions, performance, and customer trust. 

INNORULES explained that it won over 80% of insurance company projects in 2007 and 2008. Based on this success in the insurance field, INNORULES is conducting active marketing activities to expand the market to securities, cards, and banks.