The insurance industry is evolving towards an era of consumerism and innovation.
The positive economic conditions in industrialized economies, spectacular growth
in many emerging economies, booming stock markets, tax incentives, governments shifting
social security cover to private systems and trends towards increasing life expectancy
have thrown up infinite growth opportunities for the insurance industry- both life
as well as general insurance. However, with liberalization and increasing competition,
margins are squeezed and the cushion of investment returns is shrinking. Now there
is an increasing pressure to sharpen underwriting, cut overheads, reduce claims
leakage and create new distribution channels.
Tomorrow's insurance value proposition will be based on the ability to provide financial
services and risk mitigation in ways that are adaptive and customized to meet individual
needs and the speed of response will define the winners.
A well-designed and implemented data warehouse, coupled with intuitive, sophisticated
analytics, can facilitate decision making, substantially lower costs, reduce attrition,
and consequently, increase profitability in your insurance business.
What if you could
- Improve customer satisfaction and boost investor confidence while controlling costs
- Strengthen customer-agent loyalty by offering policy and claims information in personalized
- Have an effective means of accurate timely decision-making with handy, granular,
enterprise-wide information and high-level of performance measurement for insurance
- Monitor claims by geography, business area, customer, product, type and handler
to help scrutinize fake claims by identifying outliers
- Assess effectiveness of the underwriter in scrutinizing applications
- Deliver relevant information precisely to policyholders, regulators and employees
- Align key performance indicators of organizational activities with overall strategy
iDecisions® Insurance is specifically tailored to
address such key business drivers. It is a well-designed BI accelerator that offers
an intuitive and sophisticated analytical framework for the insurance industry.
It helps to effectively organize and analyze the complex barrage of information
generated across the enterprise, helps to generate required reports and incorporates
analytical analysis of both life and non-life insurance segments, new business and
underwriting systems, policy administration and claims processing, agency & channel
management, finance, accounting and associated regulatory compliance.
iDecisions® for insurance helps insurance companies create a more efficient business
model by facilitating knowledge based decision making across all business units.
To learn more on how your business can benefit from iDecisions® for
Insurance please refer to the download section on the left or contact us at