Superior analytics for data-driven insurance companies.
One centralized, intelligent insurance platform
In the insurance industry, companies must be agile, leveraging all kinds of data to optimize operations, build predictive models, reduce claims leakage, report on financials, and glean informative customer insights. Ibi’s insurance platform does all of this in one, allowing enterprises to access data and analytics at a high level, while drilling down to whatever they need, including risk analysis, network performance, claim analytics, and fraud detection.
How we help
Customer-centric analytics
Gain a comprehensive view of household data to track everything from underwriting to upselling, and access predictive analytics that help prevent future churn and increase customer lifetime value.
Smarter analytics and insights
Leverage out-of-the-box reporting, automated AI, and machine learning-powered solutions to gain insight into claims, cycle times, risk, trends, and more, at both a summary and detail level.
Intelligent claim issue management
Integrate all data types, including telematics, geospatial layer data, and other internal information sources, to address claims issues. Elevate patterns of theft losses, escalate, or reassign claims, and refer to a special investigations unit as needed.
Case Study
Gore Mutual Insurance
The Challenge
After an extensive upgrade to its technology infrastructure, leadership at Gore Mutual Insurance soon realized that the effort was doing little to achieve the carrier’s central goal: giving managers up-to-date information to help them make better decisions. The system they’d built was too hard for most executives at Canada’s oldest property and casualty insurer to use. “We only had a few superusers with the appropriate skill sets to manually generate reports,” said the vice president of business intelligence and analytics at Gore. “So other business users had to either rely on them for information or create their own Excel spreadsheets.”
Our users now make more informed decisions, providing limitless value to the organization. When they see a trend or a problem, they can take immediate corrective action.”
Vice President of Business Intelligence and Analytics
Gore Mutual Insurance
The Results
The self-service analytics capability of the new Gore system allows managers to get answers immediately instead of waiting days until a business intelligence unit analyst finds the time to develop a new report. “The business users are very, very pleased,” said the vice president of business intelligence and analytics. “They can not only see the data they need, there is a visual representation as well.” This has freed up the business intelligence team to develop more sophisticated analytics.
This democratization of analytics capabilities has improved efficiency and performance throughout the company. For example, Gore has been able to incorporate more (and more finely tuned) underwriting and loss information into the algorithms that it uses to set premiums. “The access to more granular detailed data has improved our pricing sophistication. And it has had a material impact on our ROI – more, quite candidly, than we expected.”
Self-service analytics
Pricing sophistication
Smart integration
Building trust
The platform allowed the business intelligence unit to deploy easy-to-use dashboards and clear visualizations that managers throughout the company could access to manipulate and understand the information they needed most.
Amerisure Mutual
About
The Challenge
Amerisure Mutual had done the hard work of moving terabytes of data from mainframe-based systems to a new Oracle database. Somehow, though, it still couldn’t get at the information it needed to sell and underwrite the business-oriented policies it specialized in. Users couldn’t get to the data on their own, and the department that handled writing reports had a two-year backlog. “Our data is very complex,” explained Doug Pontious, Amerisure’s business intelligence and data warehouse director. “We needed to create a framework that would enable us to harvest the intelligence that exists within that data and foster a culture that is more analytics based.”
The ibi platform addresses virtually every aspect of what we are trying to accomplish. They offer broad capabilities and high-quality solutions in every category. That gives us a lot of flexibility in how we construct and implement our infrastructure and make our vision a reality.”
Doug Pontious
Business Intelligence and Data Warehouse Director
Amerisure Mutual
The Results
Streamlined reports
Improved customer service
A snapshot of the future
Empowering users
“We realized the quickest way to get the most value was self-service. Fortunately, the ibi platform exceeded our expectations. People are creating really sophisticated dashboards, and that took the burden off our very limited staff.” — Doug Pontious, Amerisure Mutual, business intelligence and data warehouse director