Las Vegas, NV (June, 8, 2015) – From the IASA Annual Educational Conference and Business Show, Insurity, Inc., a provider of core insurance processing and data integration and analysis solutions, today announced enhancements to Insurance Enterprise View (IEV) data solution.
The enhancements include:
The addition of Master and Reference Data capabilities, along with new integration tools, eliminates the need to develop code components to integrate IEV with any policy, billing, claims, reinsurance, MGA or TPA application. The addition of Master and Reference Data to IEV will enhance data quality and reporting capabilities across the insurance enterprise. The new integration tools expand options beyond IEV’s current ACORD XML capabilities and will reduce IEV’s implementation time and cost by as much as 50%.
The new RDS remains true to the product’s non-proprietary foundation by leveraging a design based upon the ACORD Information Model. The RDS will provide Master and Reference Data capabilities for insurers looking for an enterprise solution, and will also integrate and synchronize with external Enterprise Master Data Management systems for insurers who prefer a component based approach.
“Our clients have been very clear in the added value they expect to derive from IEV’s expansion into Master and Reference Data. Combined with the comprehensive transactional data that IEV has traditionally made available, the RDS will both simplify and expand the product’s reporting and analytics capabilities,” commented Bruce F. Broussard, Jr., Insurity’s Vice President of Data Products & Strategy.
In addition to the robust and mature data model, Insurity continues to address the other key challenge that insurers face with data solutions – integrating core insurance systems quickly and cost effectively. The initial release of IEV’s new SDI Framework allows insurers to create integrations through metadata, avoiding the traditional development approach and dramatically improving the ability of insurers to capture and leverage new data as it becomes available from any source. The SDI Framework is especially valuable to carriers with many MGA and TPA integrations.
Broussard noted, “The ability to leverage data is the most significant competitive differentiator in the insurance industry today. IEV’s Structured Data Integration Framework accelerates the delivery of value for our clients and makes world class data capabilities available and affordable to all insurers.”
About Insurance Enterprise View (IEV)
Insurance Enterprise View (IEV) is the most comprehensive and mature data product available to the P&C insurance industry. It combines five powerful components into a fully integrated solution: Data Integration Hub, Data Repositories, Reporting, BI & Analytics, and Manual Data Entry. Built upon non-proprietary ACORD standards, IEV is architected to manage data at the lowest level of detail from any policy, billing, claims, and reinsurance application.
IEV supports more than 11,000 insurance data attributes and more than 30 Lines of Business out of the box, allowing insurers to deliver value to the business in months rather than years. Detailed transaction and summarized data is available to support all downstream reporting, analytic, and integration needs, reducing the complexity of the IT environment. IEV’s diverse and growing list of clients illustrates the power of the product’s value proposition, and helps drive Insurity’s continued investments in the product.
Insurity, Inc. enables property & casualty insurers to modernize their enterprise and achieve their business goals. Insurity’s core processing applications and data integration and analysis solutions are backed by rich insurance expertise and are in production with over 100 insurers, processing billions of dollars of premium each month. Insurity’s solutions address the needs of all carriers – from 15 of the Top 20 insurers to small or regional commercial, personal, or specialty lines writers, as well as MGAs. For more information about Insurity, call 860-616-7721 or visit www.insurity.com. Connect with Insurity on Twitter, LinkedIn and Facebook.