Information Builders, a leader in business intelligence (BI) and analytics, information integrity, and integration solutions, announced during the Analytics for Insurance Conference and Expo in Toronto this week that its insurance solutions help facilitate claims, actuarial, financial, risk, marketing processes, and more for insurance providers across the Canadian insurance property and casualty (P&C) market.
With myriad coverage options, restrictions, and government-enforced regulations, the insurance industry is notoriously complex. It is an industry fueled by information, and to succeed providers must have the tools available to effectively manage large and complex data sets that originate from numerous disparate sources. Information Builders works with many leading Canadian insurance providers to deliver insights that drive processes across business areas, including pricing, risk management, fraud detection, and customer centricity. We are pleased to highlight two of our valued Canadian customers that leverage Information Builders’ intelligence, integrity, and integration solutions to enhance company-wide information insight and reporting:
• ClaimsPro – Canada’s leading independent insurance adjusting company wanted to drive global expansion by replacing custom reporting processes with an intuitive BI environment that would help non-technical users satisfy their own information needs, without relying on the IT department. ClaimsPro worked with Information Builders to create a comprehensive, yet user-friendly dashboard that enables managers to easily track vital metrics, such as revenue, and drill down to get the detailed data needed for specific issues. Following implementation, employees have enhanced visibility into claims activity, which in turn has increased efficiency. This added visibility would also improve revenue generation as ClaimsPro expands into international markets.
• Gore Mutual Insurance – Canada’s oldest P&C insurance company provides commercial and personal P&C insurance to residents of Ontario and British Columbia. Gore Mutual recognized the need to improve the timeliness and quality of its business information access, and has been working in partnership with Information Builders to address its BI and analytics needs. Information Builders’ WebFOCUS BI and analytics platform will enable the delivery of self-service insight and information directly to the business while the incorporation of iWay will efficiently and seamlessly integrate data quality into the process.
Jamie McDougall, vice president, Personal Insurance Solutions at Gore Mutual Insurance, presented a session titled, “Making Insurance Analytics Pervasive and Interactive.” The session explained how attendees could strengthen analytics adoption within their organizations and develop their company’s vision to make better use of information. Immediately following the session, Information Builders’ James Barber, senior director of North American Insurance Solutions Sales, joined McDougall and several other industry experts to explore insurance analytics further in a panel discussion.
“The insurance industry has always been data heavy, and with the rise of technology, coverage offerings, and competition, it continues to grow increasingly complicated,” said Gerald Cohen, president and CEO of Information Builders. “Information Builders is dedicated to delivering market-leading solutions for our insurance customers to help them effectively manage data and derive value from that data to better serve their clients. We are proud to work with many leading Canadian providers, and we congratulate Gore Mutual Insurance and ClaimsPro on their notable, ongoing success.”