Claims Reporting

In an effort to improve customer satisfaction and boost retention, insurers are changing the methodology they use for claims reporting. Truly intelligent insurance businesses know they need to get the claims data rapidly to the people who can use it—and in a form of reporting that's accessible and easy to use. Responding to today's climate of demutualization, convergence, and globalization, leading insurance companies recognize that success depends on turning the mass of information used for claims reporting into working knowledge. And the high-achieving insurers are creating this transformation with business intelligence technology from Cognos.

Cognos Transforms Data into Actionable Reporting on Claims

The leading provider of business intelligence software globally, Cognos has been helping insurance companies to maximize profitability for decades. In fact, six out of the top ten insurance corporations worldwide have chosen Cognos to help them consolidate their data assets into actionable reports, analysis, scorecards, and dashboards. As well as the performance management technology, Cognos has the expertise—demonstrated through industry-specific performance blueprints and their Innovation Center experts—to change your existing, unmanageable claims data into clear, concise, timely reporting. The result for many Cognos clients is a significant reduction in numbers of reports, and a self-service methodology that can reduce the costs of claim reporting groups and data centers radically.

Cognos Integrates Business Intelligence for Claims Reporting

In many insurance firms, the data used for claims reporting comes from multiple, disparate sources, and it's processed by a variety of tools and approaches. With these varied resources, many insurers have a claims reporting group in each division churning out huge numbers of hard-copy reports—with the corresponding data center costs. Cognos technology can take literally thousands of claims reports and seamlessly consolidate them into a handful of meaningful templates. Claims reporting is transformed into graphical, easily accessible dashboards that allow adjusters, underwriters, and executives to see the big picture and then drill down to the underlying data in dimensions like region, state, time period, and class of coverage. With Cognos placing data directly into the hands of the business users, insurers are cutting report generation times by over 75 percent, saving huge amounts of time and money, reducing the strain on IT resources, and streamlining claims reporting into a fast, efficient, Web-based process.

Learn more about Cognos solutions for insurance claims reporting here.