Exigen Insurance Solutions®, a leading provider of core systems to property and casualty insurers, announced at ACORD LOMA Insurance Systems Forum the introduction of comprehensive business intelligence capabilities to its award-winning Exigen Suite™ of core systems for policy administration, billing and claims. Exigen Dynamic Analytics provides Exigen Suite customers with an out-of-the-box data warehouse and reporting capability that eliminates the need for expensive standalone systems. 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,” says Rowshi Pejooh, VP, product development, Exigen Insurance Solutions. “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.”
“Another goal is to make business intelligence affordable. For insurers to set up their own data warehouse and analytics infrastructure separate from their core systems is an expensive proposition that can easily run into the seven figures. By building it into the Exigen Suite solutions PolicyCore™, BillingCore™ and ClaimCore™ our customers get a very significant value add that reduces their TCO and increases ROI,” says Pejooh.
Dynamic Analytics offers analytics on-demand with a high degree of flexibility. It provides analysis of outcomes and projections for every aspect of core operations, from policy, billing and claims to distribution. It also includes business activity monitoring capabilities for measuring the efficiency and compliance of all business processes. Other features include:
- 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
“Our customers are constantly trying to make sense of the mountain of data that their core systems produce every minute of every day,” said Gwen Spertell, CEO, Exigen Insurance Solutions. “Building business intelligence capabilities right into their deployments of PolicyCore, BillingCore and ClaimCore to offer them decisioning support is the logical way to approach the problem. It extends the value of their core system investment by removing the burden and cost of typical external business analytics software deployments.”