Design And Implementation For ISO Electronic Metadata Management System In Insurance Industry

In insurance industry,the premium rates,terms and policy maintenance is a complex and time-consuming task.In order to reduce costs,most insurance companies will choose to use the official rate reference standard to keep up with the latest changes and avoid possible system risks.ISO(International Organization for Standardization)ERC(electronic rating content)is an electronic solutions for insurance industry,which provides rates,domains and policy related metadata for property insurance and personal liability insurance.The policy system or rating system which developed based on ISO ERC can consume ISO ERC data.So when the ERC has new circular,we just need to import the new version of ERC,and the data changes will be quickly and easily applied to policy system or rate engine system.This change greatly reduced the cost of content maintenance or version update.However,ERC provided by ISO is not perfect,it may have some data issues,such as data inconsistencies,data incorrect,etc.Once a data issue is found,from getting the confirmation from ISO,then to get modified in the next release,it will take a long time.But if the insurance company modify the issue data by themselves,they need take huge risk.Actually ISO ERC has complex relationship,usually a small change will involve a series of changes.Product managers have to compare a large number of data,confirm the amendment,test them and finally submit to the IT department.So the whole process will take at least three months.If you modified the content by mistake,it would cause huge loss of property.So insurance companies want to maintain,manage and track ISO electronic data,and hope to create their own customized and competitive products based on it.In order to solve this problem,we decided to develop a meta-data management system based on ISO ERC.Currently researches on this field at home and abroad are not much,we only can find a few similar products which provided part of functionalities in market.Generally they focus on data update and limited impact analysis caused by data changes,but those products implemented by the obsolete technology.ERC management system based on the latest popular technology,and brings some new concepts,such as the version management,the product customization and so on.Besides it focuses on the rating calculation and algorithm management.This paper mainly did some research about the ERC,and build the related models for ERC contents,and then successfully parse and validate ERC data,and finally persistent those contents into the system for further modification.The content management system provides a series of functionalities,such as import/Export ERC contents,verify the correctness of the data,customize the contents of products,maintain the ERC content versions,and do comparison between different content versions and so on.In technical layer,the content management system based on ISO ERC uses the latest cutting-edge and popular technology,provides a cross platform and browser independent solution.In function level,the product provides the basic analysis,data modification,content adoption,content version management and product definition for product manager.Overall,the content management system has a great market prospects and competitiveness.