Insurance Scorecard
iPartners
Insurance Scorecard incorporates an industry-specific data model to deliver enterprise reporting and analysis to property and casualty insurers. With over 60 key performance indicators supporting multiple lines of business, the solution delivers executive dashboards, scorecards, and reports to underwriting, sales and marketing, claims, actuarial, and finance.
Combining premium and loss data into a single, easy to access Web browser gives users the power to analyze their business and drive profitable outcomes. The Insurance Scorecard focuses on the things that impact profitability by consolidating disparate data and files into an easy-to-read visual format. iPartners enables insurance executives to view operating results, monitor trends, set goals, and drill down to individual producer, policy, and claims records.
Benefits
- Monitor changes in direct written, net written, earned, and collected premiums.
- Track reserves and evaluate surplus.
- Determine new growth strategies by product or territory and track results.
- Provide the critical information needed to add more value to the decision-making process.
- Identify trends such as sudden changes in the frequency, duration, and outcome of medical claims in a specific industry and/or class.
- Discover emerging trends.
- Supports a best practices environment through standardized formulas and algorithms that create accurate, reliable results.
- Automates the consolidation of data from across the entire enterprise.
- Work interactively between underwriting and claims on new product launches or emerging problems, knowing the data and formulas you are using are consistent and accurate.
- View workloads by examiner in order to manage assignments and increase productivity.
- This software as a service (SaaS) solution delivers lower risk, quicker ROI, and reduced total cost of ownership.
Features
Insurance Scorecard delivers information via reports, maps, trend analysis, scorecards, or executive dashboards. All information is accessible via the Web from a secure data center. The solution supports complete user name/password security that can secure information to a field level. We also offer ad-hoc analysis functionality and the ability to drill down to policy and claim detail transactions.
The solution has over 60 P&C-specific key performance indicators as well as a library of output formats that can easily be tailored. In addition, new measures and outputs may be added to the solution at any time.
Insurance scorecard has a relational data warehouse (Insurance Measurement Framework) and a complete set of OLAP analysis cubes that support analysis by functional area, line of business, and key performance measures.
The Framework utilizes an ETL engine to populate data from the customer application systems. IBM Cognos TM1 executive viewer connects to the cubes and provides Web-based reporting and analysis.
Availability
For more details, visit our website: www.ipartners.net
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