North America

Insurer Analytics - Know What's Hidden in Your Data

 
 
"Our implementation of Insurer Analytics has provided a strategic framework and immediate business value to our customers and Premier Prizm's operations. Insurer Analytics enhances our medical claims management process and service for our customer by providing key metrics and reporting of SLA results, helping manage their claims costs more effectively."

Linda Diekmann
Partner
Premier Prizm


Are you a Data Master?

Data Mastery is the leveraging of internal and external data (all types) to gain business insight to increase revenue, decrease expenses or improve ease of doing business.

Learn how you can master your data with Innovation Data Mastery Model here.

 


Transform your data into relevant and actionable business information from policy through claims with the award winning Insurer Analytics. Leverage data as a strategic asset!

Insurer Analytics provides data-driven insights across all major areas including customer, distribution/channel management, underwriting, pricing, quotes, new business, renewals, lapses, adjustments, policy service, operations, claims, enterprise risk management, first notice of loss (FNOL), subrogation, catastrophe management, fraud detection and supply chain.

Keep in Mind ...

  • “Top performing organizations (those that outperform their competitors) are three times more likely to be sophisticated in their use of analytics than lower performers and are more likely to state that their use of analytics differentiates them from competitors.” – Competing on Analytics

  • Innovation Group is one of six global partners with Microsoft for the insurance industry. See more at www.microsoft.com/innovation-group.

The Solution

At the heart of Insurer Analytics is the philosophy of "guided analysis at speed". Our belief is that any analysis should transform data into relevant and actionable information that can be rapidly delivered where it counts - to people with the knowledge to be able to act upon the trends and issues that their analysis identifies.

Insurer Analytics provides a set of structured analysis solutions, built around the needs of specific insurance roles providing the ability to distribute information quickly within the organization. These solutions can be easily adjusted or augmented through our "rapid build" components to deliver a truly tailored approach thus maximizing ROI.

It is this combination of out of the box (OOB) guidance, rapid deployment and flexibility of approach that makes Insurer Analytics such a powerful tool in the drive for more effective performance and increased profitability.

Insurer Analytics goes much further than most analytics solutions: 

  • Performance Management Across the Value Chain
    Manage the business from products, customers, distribution channels to partners across the entire operational value chain to operations to ensure both top and bottom line exceptional results.
  • Leverage a Library of Insurance Analysis Solutions
    Pre-defined P&C insurance specific solutions aligned to the rich data model provide an immediate “jump start” to speed delivery and return on investment and reducing the total cost of ownership (TCO).
  • Gain Business Agility
    Make quick, accurate decisions based on high quality, accurate information allowing you to respond and navigate an ever-changing marketplace.
  • Mitigate Risk
    This system agnostic solution can make an immediate business impact on any existing core system. • Gain One version of the Truth A single data model specific for P&C insurance that is extendable provides a single data management platform to ensure a single version of the truth.
  • Lower Total Cost of Ownership (TCO)
    Use pre-defined KPIs, a robust data model and ETL capability implementation make you quicker and more profitable.

 


Benefits and Results

 

Microsoft Partner
Uses Microsoft SQL Server 2008 R2 for
data warehousing and its BI
capabilities and Microsoft Silverlight to deliver an advanced BI presentation layer.

 

 

Improved Management
Enhanced Fraud Analysis.

Enhanced Reinsurance Management.

Reduced claims leakage by 10%.

   

 

     
 

Faster Processing
150-300%+ improvement in claims settlement/service.

 

 

 

Increased Sales
Increased sales by 300% during a 40% market downturn using analytics to target the right products to customers.

           
  Increased Savings & ROI
ROI and project pay-back within the first month.
    Awards
Innovation Group produces award winning solutions for the P&C industry.

Click here to see our latest awards.
           
    Industry Recognition
Innovation Insurer has been recognized by leading analyst firms in reviews and ratings.

Click here to see more.