Message from our CEO
As CEO of Silvermoon, I’m proud to introduce our Product Modeling Tool (PMT) — a next-generation solution born from over two decades of innovation in insurance technology.
PMT reflects our core belief: that insurance systems should consume new product definitions as data, not code — aligning with today’s low-code and no-code principles. This shift empowers business users, accelerates product delivery, and removes the dependency on traditional development cycles.
PMT was developed to empower insurers to innovate and respond faster to a constantly evolving market. It reflects Silvermoon’s deep commitment to simplifying complexity and enabling our clients to move with agility, control, and confidence.
Designed to streamline the creation and maintenance of insurance product models, PMT helps your teams react swiftly to regulatory demands, market changes, and new opportunities. With seamless integration into industry standards, it positions your organization to stay ahead of the curve and drive future growth.
We are proud to offer this powerful new platform as a standalone system or in combination with our LUNOS platform.
Whether you’re a business user shaping new insurance offerings or part of an IT team supporting your organization’s platforms, PMT is here to unlock your organization’s full potential. I’m confident it will transform the way you design, manage, and launch insurance products.
Koen De Maesschalck – CEO, Silvermoon Software Solutions
Challenges Facing Insurers Today
In today’s volatile insurance landscape, speed and adaptability have become critical competitive advantages. Yet many insurers remain held back by aging product development processes that are slow, IT-dependent, and costly. Modern insurers face intense pressure to innovate, but several challenges stand in the way of progress:
- High operational costs and complexity – Cumbersome legacy systems and manual workflows drive up costs and hinder agility.
- Slow, IT-dependent product cycles – Launching or updating products is often a lengthy process requiring significant IT involvement, creating bottlenecks.
- Regulatory and compliance burdens – Constant regulatory changes across jurisdictions demand quick updates and consistent compliance, which traditional approaches struggle to support.
- Missed market opportunities – Delays in developing and launching new offerings mean potential revenue streams are lost to more agile competitors.
Traditional product development methods make it difficult to meet these demands. They often rely heavily on IT teams, lack structured version control, and involve cumbersome update processes. The result? Innovation becomes slow, expensive, and high-risk for many insurers.
How PMT Solves These Challenges
Silvermoon’s PMT directly addresses these pain points, enabling insurance teams to work faster, smarter, and with greater autonomy. Here’s how PMT helps overcome the challenges:
- Launch in weeks, not months: PMT allows new products to be built and deployed in a matter of weeks instead of months — giving insurers a competitive edge in speed to market.
- Reduce IT dependency: With an intuitive web-based interface, PMT enables actuaries, product managers, and underwriters to configure and update products independently — freeing IT teams for more strategic priorities.
- Simplify operations: A library of reusable product components and reduced system complexity lead to lower maintenance costs and faster turnaround times for changes.
- Built-in audit trail: Full version control and audit trails ensure every change is recorded and traceable, making governance and regulatory reporting seamless.
- Complex product structures (coverages, options, conditions, etc.) can be broken into reusable components, enabling faster development and easier maintenance. Business users can experiment with product definitions (e.g. different coverage combinations or pricing scenarios) before finalizing a design.
- Overall, this capability shortens the product development cycle by enabling faster iteration and deployment of new or updated products.
The primary purpose of PMT is to empower insurance business teams to develop and modify product offerings quickly, with minimal IT dependency
What Is the Product Modeling Tool (PMT)?
Silvermoon’s Product Modelling Tool is an enterprise-grade, browser-based platform for designing and managing insurance products. It allows insurers to:
- model their products and keep history of the product models as versions in the PMT
- Seamlessly export product models to a policy management platform like LUNOS, enabling both thorough testing and streamlined deployment to production.
This can be done in a collaborative, intuitive & secure environment – eliminating the inefficiencies and bottlenecks of traditional processes. PMT was purpose-built for both business and IT users, providing a structured, modular approach to product development that lets teams bring innovative offerings to market in a fraction of the time. In short, PMT delivers agility, efficiency, and compliance in one integrated solution.
What is Product Modeling?
Product modelling is the process of digitally defining an insurance product (such as an auto, life, or home policy) in a diagrammatic syntax using structured, reusable components. The diagrams provide for easier collaboration on the product model with all involved experts in your organization. The resulting product model serves as a detailed blueprint of the product, capturing all of its key elements, including:
- Coverage options, benefits, and variations
- Business rules and validation logic
- Premium or benefit calculations
- Product and policy lifecycle events
PMT enables business users to design, adjust, and publish these product models without the need to write complex code to achieve what the product requires. In some instances no-code may be required This is operational product modelling (not financial or actuarial modelling) — focused on how insurance products function within real-world systems. By decoupling product models from core policy administration systems, PMT allows teams to maintain flexible, reusable, and future-proof product definitions that reduce technical debt and improve responsiveness to change.
PMT’s Underlying Model Structure
At the core of the PMT lies a powerful multi-dimensional version control engine. The two primary dimensions it supports are time and geography. The geographic dimension was originally introduced for the United States of America to accommodate for state-based versioning or products. However, it is equally applicable to other regions—for example, ‘country’ can be used as the geographical dimension within the European Union.
In addition, the PMT is designed to support custom versioning dimensions, enabling insurers to manage product variations across factors such as distribution channel, customer segment, or any other business-relevant axis. This flexibility empowers insurers to maintain precise control over how their products evolve and operate across markets and channels.
Silvermoon’s Product Modeling Method
Silvermoon provides a structured Product Modeling Method to guide you in using the PMT effectively.
At its core, this method embraces an iterative approach to modeling insurance products. It typically involves close collaboration between two key roles:
- An insurance product expert who brings deep knowledge of the product’s coverages and business logic, and
- A product modeler who translates that understanding into the PMT’s graphical notation.
This visual modeling language not only captures the logic of your insurance product but also serves as a shared communication tool—making it easier for all stakeholders to align around the product definition.
Iterative nature of the method
Once a product model is complete, it can be exported to a Silvermoon LUNOS instance, where you can validate that the product behaves as expected within the Policy Administration System. If the resulting behaviour is not completely what you want, you can modify the product model and test again until you’re satisfied.
Importantly, every change made in PMT is fully audited, with strong version control that ensures no previously published version is ever overwritten. This provides clear governance, full traceability.
Key Features and Benefits
PMT offers a rich set of features that deliver immediate business value for insurers:
Modular, Reusable Components:
Build products faster using ready-to-use libraries of coverages, rules, forms, and other components.
Web-Based, User-Friendly Interface:
Designed for non-technical users – configure products via drag-and-drop tools with no coding required.
Product Specification Diagram Notation:
Silvermoon contributed and participated to ACORD’s Product Diagramming Work Group. The export format used by the PMT builds on that collaboration.
Standardization:
The PMT enables you to achieve greater consistency among your product definitions.
Multi-User Collaboration:
Supports concurrent teamwork with role-based access control and real-time version tracking for different users.
Full Version Control & Audit Trail:
Every change is logged and preserved, providing complete traceability and simplifying audits and governance.
Direct Publishing to PAS:
Seamless integration with policy administration systems like Silvermoon’s LUNOS allows immediate deployment of product changes into production environments.
Seamless Integration with LUNOS and Beyond
While PMT is fully integrated with Silvermoon’s own LUNOS policy administration platform, it is designed as a standalone solution. Insurers can use PMT on its own and even export product models to other systems if desired. Our aim is maximum flexibility – whether you run LUNOS or another PAS, the PMT ensures that product definition becomes a strategic enabler rather than a constraint. This open approach protects your investment and allows PMT to complement any core system strategy.
What Makes PMT Different?
Silvermoon’s PMT was built exclusively for insurance-by-insurance domain experts. It is one of the most advanced product modelling platforms available, combining flexibility, compliance, and speed in a business-friendly package. Key factors that set PMT apart include:
- Built for Insurance: Designed for insurers, by insurance experts, reflecting industry best practices and real-world needs.
- Proven in the Field: Silvermoon’s Product Modelling Method has demonstrated success with major insurance carriers across diverse markets and product lines.
- Cloud-based and Scalable: The PMT is a cloud based SaaS platform, which scales with your growth and requires minimal IT infrastructure.
- Future-Proof Design: Continuously updated and built to evolve with your business – ensuring the platform remains an asset as your product strategy changes.
What Our Clients Say
“Working with Silvermoon, we have successfully used the product modelling method for over 20 years — ensuring sustained cost-efficiency, seamless product changes, and agile innovation.”
– Senior Director, Product Management
“Silvermoon’s approach revolutionised product development, enabling faster response times and reduced operational costs.”
– Senior Insurance Executive
“Silvermoon promotes a ‘Product First’ rather than ‘System First’ approach — a game-changer for our team.”
– Product Specialist, Asian Insurance Carrier
