The Innovation Group announced that American Family Insurance (American Family) has selected Insurer Analytics, a modern analytics solution which is a component in the Innovation Insurer suite, as part of the company's claim process transformation.
The nation’s third largest mutual property/casualty insurer, American Family sought an insurance-focused analytics solution that could be tightly integrated with the company’s existing claim management solution and which featured an extensive array of insurance key performance indicators (KPIs), at-a-glance executive dashboards and pre-built and user-configurable metrics.
Considering American Family’s large number of in-force policies, an analytics system which enhanced the company’s ability to scale quickly during CAT events was considered vital.
"We were looking for an analytics solution that would help refine our growing insurance data and make it immediately relevant," said Paul Choi, national claims product director for American Family.
"Innovation Group demonstrated that they truly understand insurance data. We are looking forward to using Insurer Analytics’ enhanced reporting capabilities to improve our day-to-day management."
Insurer Analytics will allow American Family to:
Leverage near real-time analyses and reports based on current and trusted data;
Share important data rapidly and securely through web-enabled distribution of analysis, management information and exception reporting;
Easily modify or enhance any pre-built or ad hoc analysis with just a few mouse clicks and without IT training; and
Save money by focusing management on areas where it is most likely to improve processes, eliminate waste and enhance best practices.
"We are honored to be selected by American Family," said Euan King, Managing Director North America Insurer Software for Innovation Group.
"Insurers today must to be able to understand what their data is telling them about their customers’ needs, as well as their own company needs. American Family not only recognized this fact, but took action to fill that requirement, as well as plan for the future by selecting Insurer Analytics. We welcome them to the Innovation Group community."
Insurer Analytics uniquely provides business intelligence (BI), dashboard reporting, real-time analytics and management reporting to assist in managing the business of insurance. The analytics solution runs on Microsoft SQL Server and leverages its BI capabilities.
Insurer Analytics’ extensive configuration, robust insurance data model, broad out-of-the-box BI and dashboard reporting specific to insurance, provides real-time analysis and reporting critical for insurers.