Enterprise Data Solutions

Data and analytics are currently the #1 area for insurance IT investment. Not surprising since businesses run on data. Or at least they should. Because without reliable, accurate, timely data, businesses often run on perceptions, which can be at odds with reality. Not to mention the competitive disadvantage they face.

With our decades of insurance experience, we understand only too well how hard it is to extract meaningful data — the kind businesses grow on -— out of a maze of systems and processes. And it’s made even harder by the constant drumbeat of demands for more, and better, information.

Without a platform to support the analytics and reporting needs of the business, decision makers can be forced to rely on scattered, dead-end data with no way to access, consolidate or validate it. Dealing with concerns over questionable data lineage, accuracy, reliability and timeliness can result in lost time and missed opportunities.

Our Enterprise Data Solutions address these issues with Insurance Enterprise View (IEV), a comprehensive data solution designed to improve information availability and integrity across all applications, drive improved processes, and lead to more informed decision making.

IEV consolidates data from any policy, billing, claims and reinsurance system — as well as third party sources interrelated to underwriting, claims and financial processing — to provide insurance companies with integrated intelligence and actionable insights for agile decision making. IEV makes the right information available to the right people at the right time to give its users an unmatched competitive advantage.

Insurance Enterprise View

Insurance Enterprise View (IEV) is a data integration solution that solves a highly complex problem — how to derive optimum value from the data being generated moment-by-moment by your policy, billing, claims, and reinsurance systems. Quickly and affordably.

Delivered with the most comprehensive data model in the industry, IEV supports all Commercial, Personal, and Specialty Lines of Business. Right out of the box. Combined with a non-proprietary ACORD XML integration model, IEV can be implemented and in production in as little as three months.

Since its introduction, the IEV data model has proven itself in more than 300 successful line of business engagements, including non-Insurity systems, making it the most mature data solution in the industry. And because it can be leveraged either as a full solution or as an asset to complement existing components, it is ideal for carriers and self-insureds of any size.

How does it do all that? By packaging five IT components that usually exist independently, but when combined support key insurance areas such as claims, underwriting, actuarial, compliance, sales, and marketing.

Insurance Enterprise View components:

  • Data Repositories
  • Integration Hub
  • Management and Operational Reporting
  • Business Intelligence and Analytics
  • Manual Data Entry

Insurance Enterprise View also provides features that make CIOs smile, including:

  • Scalable, modular and tool-enabled architecture that empowers insurers to quickly identify and respond to business and technical opportunities and challenge
  • Consolidated back-office infrastructure that reduces maintenance costs and downtime
  • ACORD-compliant interfaces for faster integration
  • Bureau-ready reporting extracts for simplified statutory reporting
  • Extensive library of transactional edits & accounting rules to improve data quality
  • Reduced reliance on hard-to-find resources required to maintain legacy systems
  • IEV’s Client Extension Framework, which allows insurers to extend the data model, reporting, BI/Analytics, and integration capabilities themselves – without sacrificing the ability to take advantage of future product enhancements
  • Flexible architecture that supports both “big bang” and incremental implementation strategies
Enterprise Data Solutions at a glance
  • Comprehensive Enterprise Data Solutions, designed specifically for P&C carriers, that leverages extensive insurance processing, systems and workflow experience
  • Investment protection through extensible software design for scalable growth, M&A, and source application changes to minimize IT and business impacts
  • Accelerated ROI through expedited implementation
  • Data integration across the insurance enterprise and information life cycle