Rules-Driven Platform Will Help Systems be More Responsive to Business
And Customer Demands
GARTNER SYMPOSIUM, ITXPO 2002, ORLANDO, Fla., Oct. 8
/PRNewswire-FirstCall/ -- ILOG(R) (Nasdaq: ILOG; Euronext SICOVAM: 006673),
the leading provider of enterprise-class software components, and Radian Group
Inc., a leading credit enhancement provider to global financial and capital
markets, today announced that ILOG JRules(TM) business rule management system
(BRMS) was selected to enhance business agility as part of Radian's new
transaction processing platform. Radian's new system is considered a key
technological component of the company's strategy to build its reputation as a
diversified global provider of financial guaranty, mortgage insurance and
mortgage services. This strategy requires a more flexible, customer-centric IT
architecture, which will be facilitated by ILOG JRules BRMS.
Business rule technology is considered key for giving enterprise IT
architectures the ability to more quickly and easily address changing business
conditions and time-to-market demands. Business rule technologies allow the
business rules that drive business process flows, applications and the
enterprise architecture to be changed more easily -- and allows these changes
to be performed by non-IT personnel. For example, ILOG JRules allows business
users to modify business rules as the business needs change and also simulate
the impact of changing or adding new business rules.
"ILOG JRules will enable Radian to respond faster and more
cost-effectively to changes in our business strategy. It will also help give
us the flexibility to be more responsive to our customers by ensuring
consistency of customer information across all of our systems and business
lines," said Liz Shuttleworth, senior vice president and chief information
officer, Radian. "We also believe that rules will empower the end-user and
reduce the bottleneck in our IT department. By changing the people who have a
stake in and maintain the system, it allows the business to focus on more
analytical and strategic issues."
Radian's next-generation transaction processing platform, which is based
on Java, will link all core operational systems in the company. It will handle
most of the company's major transactions across all lines of business,
including financial guaranty, mortgage insurance and mortgage services. Rules
embedded in each proprietary system will be replaced with rules created and
stored in ILOG JRules as part of the Radian system for reuse across the
company in many different applications. This "enterprise-wide" use of rules is
a big part of the technology's appeal.
Since ILOG JRules has comprehensive rule management features, the hundreds
of thousands of rules driving pricing, underwriting, customer profiles,
product profiles, policy servicing, as well as loss mitigation and compliance
can be managed in a central repository. In addition to facilitating
enterprise-wide rule management, the repository means a faster system response
time and will give Radian control over rule versions, including knowing what
rules were executed and when.
"We selected ILOG JRules because of its rich user interface, and its
business approach that puts the power of the customization in the user's
hands," said Shuttleworth. "The performance and scalability of JRules were
other key reasons for selecting the product. We will have the ability to
deliver responses to customers within seconds and the system can expand to
meet our needs as our business grows."
The initial deployment of ILOG JRules will be in Radian's pricing
application where rules will be used to dynamically handle rate changes
without bringing the system down. Radian currently handles up to one million
mortgage pricing requests a month.
ILOG's JRules was the first rule engine to integrate with Enterprise Java
Beans for applications running on the Java 2 Enterprise Edition (J2EE)
platform, a key requirement in Radian's decision to choose this product. The
product is widely used by leading financial institutions and insurance
companies to enable STP, a major financial services industry initiative that
will enable the automation and management of business processes and decisions
in real-time.
ILOG JRules was recently awarded the 12th Annual Productivity Award by
CMP's Software Development Magazine, recognizing the emergence of business
rules as a key technology driving business agility. The product was also
recently awarded the Crossroads 2002 Award, which recognizes innovative new
technologies that have achieved real-world business results.
About ILOG
ILOG's innovative enterprise-class software components and services have
helped companies maximize their business agility and improve operating
efficiency for over 10 years. Over 1000 global corporations and more than
three hundred leading software vendors rely on ILOG's business rules,
optimization and visualization technologies to achieve dramatic returns on
investment, create market-defining products and services, and sharpen their
competitive edge.
For more details, please visit http://www.ilog.com.
NOTE: ILOG is a registered trademark, and JRules is a trademark, of ILOG.
All other trademarks are the property of their respective owners.
Gartner Symposium ITxpo Booth # 409
SOURCE ILOG
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Related links:
http://www.ilog.com
CONTACT:
Susan Peters of ILOG, +1-650-567-8109, or
speters@ilog.com
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