LLMira Suite is designed to cut the time and cost of launching and maintaining insurance products. Every step stays traceable.
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The platform is designed to take a product from approved documents to running policy in days, where legacy cores take 36–72 weeks.
On legacy systems the tenth state costs as much as the first. The platform is designed so a new state reuses most of what already exists.
Every rule traces to the regulatory document that required it, and production products cannot be altered after policies are written.
Running a core platform costs more than its licence. It costs the machines, the databases and the people around it. LLMira Suite is designed to reduce all three.
An insurer typically keeps only 2% to 3% of its direct written premium (DWP) as profit. Traditional core platforms can take 1% to 2% of DWP to run. At that level, the platform takes a large share of the profit, so every point of platform cost you remove goes straight to the bottom line.
Configurators, business analysts and testers usually each need a virtual machine with specialist tools installed, and the platform behind them needs more machines to run. Here everyone works in a web browser on one web-based platform, so that estate of virtual machines is not needed.
Products and business rules live in a standard database you choose, including open-source ones such as PostgreSQL and MySQL, or the one you already run, such as SQL Server or Oracle. There is no separate rules engine or authoring product to license.
Lower-cost containers expand when demand is high and shrink when it is not. You do not keep expensive servers running all year to cover the busiest day.
Business analysts, QA specialists and prompt engineers build the products. Experienced configurators for traditional cores can cost $100,000 to $150,000 a year and are hard to find. Here, specialists learn the platform in weeks, not months, and there are many of them in the market who can be trained to build new products.
Because the platform is entirely web-based, several specialists can work on it remotely from different countries, for example from India to Australia, without installing a single virtual machine.
You own your insurance products and the intellectual property in them. The requirements LLMira Suite extracts are universal: they describe the product, not any one platform, so they can be translated into a product on other insurance platforms, including enterprise cores. You are never locked in, and your product is never held hostage by the system it runs on.
