The insurance industry has always used a wealth of data to understand and assess risks, get a holistic view on trends and set their prices on policies. Business intelligence is the key to harnessing the full power of that data. The importance of implementing BI solutions is being noticed not only by the insurers with data-first culture, but also by those who want to keep up with more demanding regulatory changes and make better, data-based business decisions. With Comarch BI for Insurance, you will be able to extract data from multiple sources faster, make analyses and interpret data in an intuitive and effective way, create various smart visualizations and share your powerful insights with other users. This self-service solution also enables uniform and ad-hoc reporting in real time.
Comarch’s market presence, experienced and innovative team, aligned with comprehensive expertise in data analysis and machine learning, has resulted in around 100 business intelligence dedicated projects successfully executed across many industries, including the insurance industry.
Insurance companies face many challenges, especially in the modern, data-driven world. Comarch Business Intelligence for the insurance industry offers solutions to many potential problems they encounter, examples of which are shown below.
Increasing volume and velocity of data
In the world of rapidly growing amount of data, implementing BI solutions ensures intelligent data management and supports data quality enhancement and protection. Now, you can make sure to have a reliable, in real-time data source.
Expensive and time-consuming data extraction
Comarch BI integrates with various data sources and enables you to extract and consolidate data quickly and efficiently – making it a time-saving and cost-effective solution.
IT department overloaded with tasks
Comarch BI is a self-service tool – therefore no advanced IT skills are needed to navigate it efficiently. With its intuitive design and simplicity of usage, our solution is empowering every user to make smarter analyses and turn information into useful findings.
Privacy and data-sharing
You can keep your information safe and protected by simply managing permission settings.
Multiple systems in the company
Our solution can be integrated or expanded with other Comarch solutions and systems. Moreover, Comarch’s unified interfaces across different products make the solution even more user-friendly.
Difficulty to understand data and draw meaningful conclusions
With many types of customizable and interactive visualizations, Comarch BI for insurance will boost your productivity and effectiveness by making information easier and faster to process, highlighting interrelations between elements and enabling you to identify insights that otherwise may have been missed. You can also share your data with other users and use the bulit-in communication mechanism to make comments, raise questions or disclose insights.
Complex business processes
Comarch Business Intelligence for insurance companies offers the big picture of insurer’s key business activities (including open claims) and provides tools for process optimization.
Meeting your requirements for the solution
Responding to our customers’ needs, Comarch BI can run on-premises, off-premises and as SaaS.
Challenges of building a data-driven organization
The White Paper discusses the data driven approach to decision-making, starting at the crucial elements of the approach, identifying the difficulties companies face, as well as providing success stories and recommendations.
Find out more about our BI for the insurance industry implementantion at Oney Insurance (PCC) Limited.
Tell us about your business needs. We will find the perfect solution.