Innovation Releases New Version of Insurer Analytics to Help Insurance Companies Refine Their Work

By CIOReview | Thursday, November 5, 2015

FARMINGTON, CT: In order to help insurance companies with the growing insurance data and make them immediately significant, The Innovation Group, provider of business process outsourcing (BPO) and software solutions, has made Insurer Analytics version 7.5 of the integrated analytics component of the Innovation Insurer suite.

Insurer Analytics is an Insurance Data Mastery solution with an automated governance, which offers business users with intelligent, guided analysis- recommended ‘best next’ activity to filter and focus analysis further. It runs on Microsoft SQL Server and enables users for analytic “drill anywhere” multi-dimensional or geographic analyses.

“We were looking for an analytics solution that would help refine our growing insurance data and make it immediately relevant. Innovation Group demonstrated that they truly understand insurance data. We are looking forward to use Insurer Analytics’ enhanced reporting capabilities to improve our day-to-day management,” says Paul Choi, National Claims Product Director for American Family and customer of Innovation Group.

With the enhanced version of Insurer Analytics, insurers can enjoy the benefit of enhanced CAT analyses, through particular key performance indicators (KPIs) and dashboards, for both major and minor CAT events.  Also, by offering an overview of potential problem areas, it enables insurers to improve customer satisfaction and retention, supply chain inefficiencies or fraud.

Moreover, other important benefits include workflow analyses for policy, or claims or any defined workflow with timestamps on the activity steps; customer complaint analyses to better manage and monitor customer satisfaction; and repair management analyses for more visibility for vendor management.