New Dynamic Analytics Component Reduces Cost and Increases Decision Support for Insurers
Insurance is a data-driven business, but while insurers are data rich they are often information poor. Our customers struggle to make sense of the mountain of data their core systems produce everyday.
Now, with the May 22 roll-out of Exigen Dynamic Analytics, Exigen Suite customers have an out-of-the-box data warehouse and reporting capability. Dynamic Analytics delivers an insurer’s key metrics in real time as a single version of the truth and as actionable information in both a standard and visual reporting paradigm that is easy to understand.
Our goal with Dynamic Analytics is to help insurers create a culture based on results and productivity by harnessing the power of information and analytics accessible at all levels of the organization. It delivers the right information to the right people at the right time. Performance and transactional data is presented in out-of-the-box and customizable reports and operational and executive dashboards. Management can quickly and consistently evaluate the health of the business with pre-scheduled and on-demand reporting that might range from quote-to-policy issuance times in a regional data center, to sales conversion at a specific agency, to claims history in a certain zip code or hourly enterprise-wide policy sales numbers.
Here’s a look at some key features of Dynamic Analytics:
- Out-of-the-box definitive data warehouse schema that eliminates the need for carriers to design their own schema
- Out-of-the-box ETL that eliminates the need for carriers to schedule and maintain ETL jobs
- 50-plus actionable out-of-the-box reports related to policy, billing and claims and customer/party-centric activities
- Extensible custom report creation capability
- Out-of-the-box, self-service operational and executive dashboards
- Dashboards include predefined yet extensible key performance indicators (KPIs)
- Fast refresh and replication to support real time reporting
You can find out more about the power of this new decision support tool here.