NEW YORK, NY and CHICAGO, IL — (Marketwired) — 03/24/15 — Today at the Analytics for Insurance Conference and Expo, Information Builders, a leader in () and analytics, information integrity, and integration solutions, announced that its technology and prebuilt insurance solutions help improve productivity, boost customer loyalty, and enhance overall business operations for all types of insurers.
With countless coverage scenarios and plan options available, as well as numerous strict regulations in place, the insurance industry is an incredibly challenging and complex business environment. As a risk business with information as its core asset, providers must possess the power to harness massive amounts of data, ensure its integrity, and put it to work to improve business functions, many of which are often in flux. While these core systems can change expense ratios, competitive advantage and profitable growth are driven by key loss ratio impacts that require business analytic success that is pervasive, drives alignment, and uniquely fits the insurer–s business model.
Information Builders is delighted to highlight three of our insurance customers who have leveraged our intelligence, integrity, and integration solutions to accelerate company-wide insight and reporting with prebuilt, tailored insurance business solutions. The customers include:
a top provider of property and casualty insurance to businesses across the U.S., was looking to enhance overall performance by improving access to enterprise data and promoting an analytics-driven culture. Working with Information Builders, the company unified disparate data into an enterprise repository and made it available to users across all departments via self-service reporting and predictive analytics. As a result, Amerisure is able to improve claims processing, premium production, pricing precision, fraud management, finance, and other crucial operations while strengthening relationships with its agencies and policyholders.
one of the nation–s leading insurers of churches and related ministries, needed to revamp its enterprise reporting strategy to make it more cohesive, without going through a lengthy data warehouse development effort. The company selected Information Builders– WebFOCUS BI and analytics platform to overhaul its Excel-based information systems and rigid hard copy reports, creating an organization-wide reporting foundation that is accessible to all levels of workers. As a result of the initiative, Brotherhood has benefited from an agile and robust platform to access and manage their information. The organization now has new sets of GUI dashboards for displaying and analyzing data and a growing collection of performance management frameworks for tracking productivity and adjusting workloads. Further, by directly enabling individuals to mine and compile analytics from the various systems that have been centralized into a common data pool, the company has risen to focus on action rather than observation.
is a provider of high-quality and low-cost insurance products to the non-standard automobile insurance market. UAIC needed to upgrade its manual reporting processes and IT systems to increase employees– ability to make prompt, fully informed decisions. The company also required a way to integrate data from its core systems into a single comprehensive view across the enterprise. An influx of additional data from UAIC–s new core systems that were being implemented exacerbated the challenge. The company turned to Information Builders to address these challenges as well as improve the time-to-market and precision of rate actions, reduce losses, manage expenses, better segment its books of business, and change the nature of agent interactions. As a result of its BI and analytics investment, UAIC now has a single source of accurate reporting data that has enabled the organization to rerate its books of business and consider claims, endorsements, and premiums more accurately and competitively.
“The insurance industry is incredibly complex and fast-paced, with new claims and data sources developing on a near constant basis and producing complicated data sets and scenarios,” said Gerald Cohen, president and CEO of Information Builders. “Information Builders is proud to work with many of the leading insurance providers to help equip them with a complete view of their business internally, align their channel performance, and support personalized customer service. We congratulate Amerisure Mutual, Brotherhood Mutual, and United Automobile, among others, on their ongoing success in this area, and we look forward to a bright future with these brands.”
Dean Kozlowski, vice president of Product Development and Analytics at UAIC, will be sharing his experiences leading BI and analytics at the Analytics for Insurance Conference. Join him at 10:00 a.m. on March 26 for “A Transformation Initiative Done Well: Making Insurance Analytics Pervasive and Interactive.” Immediately following, Rob Fosnaugh, senior programmer analyst at Brotherhood Mutual, will join Mr. Kozlowski along with industry expert and Information Builders partner Mark Gorman for a discussion moderated by Information Builders– James Barber called, “When Insurers Commit to Strong Analytic Business Impacts Company-Wide.” In addition, Information Builders will also be exhibiting at booth six, where executives will be on hand to offer demos and chat about the future of BI and analytics in insurance. Follow Information Builders on Twitter at for all the latest news, direct from the show floor.
Information Builders helps organizations transform data into business value. Our software solutions for business intelligence and analytics, integration, and data integrity empower people to make smarter decisions, strengthen customer relationships, and drive growth. Our dedication to customer success is unmatched in the industry. That–s why tens of thousands of leading organizations rely on Information Builders to be their trusted partner. Founded in 1975, Information Builders is headquartered in New York, NY, with offices around the world, and remains one of the largest independent, privately held companies in the industry. Visit us at , follow us on Twitter at , like us on , and visit our page.
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