Business Intelligence, Planning and Predictive Analytics
Figures and financials are key to insurance organizations. Whether you’re determining risk assessment or budget allocations, many mainstream solutions currently in the market cannot capture the complex (or simple) calculations unique to your organization.
The right solution is able to support custom algorithms, workflow management, cost recoveries, and specialized requirements for insurance providers. By eliminating time consuming and erroneous spreadsheets, and moving to a reliable solution that can intuitively capture data, perform calculations and aggregations, and deliver rich reports, insurance providers can achieve greater insight and corporate vision.
Business Value for the Insurance Industry
Build custom applications that automate manual and excel-supported budget planning and report generation processes
Produce dynamic rolling forecasts safeguarded by custom workflow processes including submission, acceptance, audit trail, and cell locking
Easily perform scenario analysis in changing economic, regulatory, or reporting regimes to understand how various changes to customer and stakeholder demands impact the organization’s ability to deliver on promises
Create reports and dashboards that provide organizational level insights with drill-down to regions/states/provinces, sales territories/sales personnel, departments, or operating units
Integrate with external data sources including accounting systems and other data silos to create a single data repository/warehouse/lake with one version of the truth to use in reporting and analytics
Perform a full consolidation of budgeted financial statements with all necessary eliminations performed within the platform including top side adjustments