InsPro Technologies, a provider of comprehensive and flexible life and health insurance processing solutions, announced the introduction and immediate availability of InsPro Analytics, a data analysis and business intelligence application pre-integrated with the InsPro Enterprise solution suite for life and health policy management, at its annual InsPro Executive Forum.
InsPro Analytics is available through a traditional software license, as a hosted solution, or via software-as-a-service (SaaS), and is designed to import third-party data in order to build a robust data set as well as provide breadth, depth and detail with the resulting analysis.
The combination of InsPro Enterprise, a flexible, end-to-end policy management and administration suite, with the newly introduced InsPro Analytics enables insurers to learn from the past and react quickly to best impact the future, the company says.
“While myriad data warehousing projects indicate that the insurance industry has long recognized that its data is a valuable resource, there has been little success in effectively mining it, thanks to the lack of industry-specific tools to help analyze the data," says Chad Hersh, a Principal in the insurance practice at analyst firm Novarica. "A tool like InsPro Analytics should go a long way in helping insurers put years of data to work, and help provide detailed analysis and discovery to enable more informed business decisions. As a result, InsPro Analytics should prove attractive to both life and health insurers.”
Additional InsPro Analytics’ highlights include:
• Detailed business analysis for sales, customer service, actuarial, and claims departments
• A single, streamlined user interface with decision trees and drag-and-drop mapping
• Easily customizable views and dashboards
• Demographic data mapping, numeric reports, and graphic and pie displays
• Extensive on demand reporting with current data for the most up-to-date view of the business
• Data imports from external sources for the most robust data set
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