Innovation Group has unveiled Insurer Analytics, the business analytics component of the Innovation Insurer suite, to the South African market.
According to the company, a provider of business process services and software solutions to various industries, Insurer Analytics provides the short-term insurance industry with one version of the truth through a single enterprise view. In doing so, it allows businesses to measure, monitor, manage and uncover insights and opportunities regarding their most and least profitable risks.
"The business impact of Insurer Analytics in terms of insight, innovation and performance is significant," says Glen Mollink, CEO of Innovation Group SA.
The company adds that Insurer Analytics provides key data mastery components including analytics, a business intelligence (BI) presentation layer, event trace log, a data warehouse/data mart, data sets and enterprise roadmap.
The solutions contained within Insurer Analytics are geared towards maximising revenues, managing performance, preventing cost leakage and improving efficiencies, says Innovation Group.
It also points out that Insurer Analytics can be used in multiple functional areas within an organisation, including customer data, distribution/channel management, underwriting, policy service, claims, pricing, enterprise risk management, catastrophe management, fraud management and supply chain management.
The new software uses Microsoft SQL Server 2008 release 2 (64bit) for its data warehousing and BI capabilities, along with Microsoft Silverlight, to deliver an advanced BI presentation layer.
"Through the use of Insurer Analytics, risk-carrying organisations can increase their market share, improve customer loyalty, drive service excellence and ultimately be more profitable," says Mollink. "Insurer Analytics is unmatched in its ability to deliver out-of-the-box tools and reports that are easily implemented. The system has multiple international users and is regionalised for the South African market."
"We believe launching Insurer Analytics to the South African market comes at the right time as it will help organisations respond to increasing market demands," concludes Christine Sheffield, CIO of Innovation Group SA.
Insurer Analytics is available as a standalone solution and is database independent.
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