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InsFocus BI is an end-to-end business intelligence solution designed specifically for insurance companies. InsFocus BI is developed by InsFocus Systems Ltd. and marketed in North America by Jarus.
Jarus is a value added reseller and systems integrator for InsFocus BI
The Need
For insurance companies to best address complex business
issues and gain deep insight into their performance and
profitability, they must be able to transform complex transactional
data into focused, clearly analyzed and relevant information.
With such information at their disposal, insurers can monitor
business trends, optimize product pricing, and identify profit-
and loss-making segments.
Business intelligence (BI) tools provide this analysis. And today,
according to industry analysts, more insurers are seeking
insurance-specific BI solutions to address the specific needs
of diverse, cross-organization information users such as
executives, marketing managers, underwriters, claims managers,
reinsurance professionals, actuaries, and accountants.
That's why InsFocus offers InsFocus BI is a business
intelligence solution designed specifically for insurance
companies.
The Solution
InsFocus BI is an end-to-end solution that perfectly fits the
needs of insurance companies. Combining dozens of years of
insurance know-how with business intelligence expertise,
InsFocus BI enables insurers to gain insight into their business
performance and profitability. Easy to use and maintain, InsFocus
BI is an intuitive system that allows non-technical insurance
professionals to focus on what they know best - insurance.
Based on state-of-the-art technologies, InsFocus BI is an open,
modular solution that is easily customized to address the specific
requirements of any insurance company. Spanning the full
spectrum of the data warehousing process - from raw data
transformation to clear and accurate reporting - the
comprehensive solution helps insurance professionals at all
levels make better business decisions and increase profitability.
And since InsFocus BI contains a wealth of insurance-specific
components, it is quickly implemented in just months, thereby
delivering an extremely rapid ROI.
Business Benefits
InsFocus BI enhances insurance company profitability by delivering clearly analyzed and focused information to business
executives and professionals in the following domains:
Marketing - distribution channel performance, marketing campaign effectiveness, policy activity analysis, cross-selling and up-
selling report generation
Underwriting - profitability indicator monitoring including loss-ratio and loss-frequency, risk analysis, client-level underwriting
results
Claims - claim activity monitoring, claim type and reporting delay analysis, claim party activity control, reserve sufficiency
analysis
Reinsurance - catastrophe exposure control, reinsurance cession profitability, reinsurance statistics
Actuarial and accounting - claim development statistics, loss experience analysis by tariff group, daily pro-forma profit-andloss
account monitoring
System Highlights
End-to-end solution from extract, transform and load, through system management, to reporting and analysis
Insurance-specific functionality encompassing data structures, transformation processes, calculation methods,
metrics, dimensions, and reporting templates
Easy customization to insurers’ specific data structures, business processes and language
Intuitive, user-friendly interface for non-technical insurance professionals
Modular, SOA-based system for communicating with other applications and services
Key Features
Dynamic calculation of earned and unearned premiums at any date
Claim development (triangulation) and claim reserve run-off analysis
Unlimited, product-specific, risk-analysis parameters
Drill-down to any level including individual client, policy or claim
Changing organizational structures for support of "as-if" scenarios
Full meta-data management for all measurements, dimensions and reports
Time-rollback for viewing a report as it appeared at any previous date
Query accelerator using aggregation tables
Advanced security methods incorporating X.509 and Active Directory
Report saving and offline display
Advanced printing and exporting to all common formats (PDF, HTML, Excel, text, image files)
System Components
Data Warehouse Model - A dimensional model designed for insurance content that incorporates numerous insurance-Data
specific structures, pre-calculated variables and analytic functions. The model is specifically
designed to provide the highest level of analytics and reporting flexibility.
Data Integration Module - An array of integration processes that takes the insurer's raw data as is, performs a full range
of transformations, calculations and control processes, and loads the results into the data
warehouse. The module is fully customizable and supports daily incremental data input.
Query Engine - A parametric query-building mechanism that interprets and translates users’ requests based on
insurance business language into complex software query procedures required for executing
calculations.
Application Server - A central Web service responsible for system communication, security and encryption. The
application server controls all system operations, including administration of user permissions,
data access and user-activity recording.
User Interface - A multi-lingual, user-friendly and intuitive environment that enables non-technical insurance
professionals to define reports and conduct analyses using familiar insurance terminology. This
ensures a short learning curve and widespread adoption throughout the company.
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