Faktor-IPS is more than just a product system. It is a tool for developing insurance-related software, e.g. quotation and policy management systems. Faktor-IPS offers editors for creating, editing, and documenting the business model. Program code is generated directly from the model, which can be used as basis for different applications. Based on the business model, products can be easily defined and maintained. Last but not least, Faktor-IPS offers various options for testing and documenting products and models.