NEW YORK and AUSTIN, Texas, May 29, 2019 /PRNewswire/ -- Information Builders, a leader in business intelligence (BI), analytics, and data management solutions, today announced the launch of Omni-Insurance, a data and analytics hub that provides property and casualty (P&C) insurers with business-ready data to help them transform from a product-driven to a customer-driven enterprise. The new solution will be on display during Dig|In 2019 in Austin, Texas from May 29 to June 1, 2019.
P&C insurance companies are investing substantially in digital transformation across every aspect of their businesses, from policy and ratings to claims and billing. However, the applications they implement often focus only on improving operational efficiency, and the data siloes they create can hinder the companies' ability to meet their digital transformation goals.
Information Builders' Omni-Insurance provides P&C insurers with a subject-oriented data repository that integrates data about insured parties, brokers, policies, underwriters, assets, and claims to provide a historical, 360-degree view of the business. This business-ready data helps P&C insurers change from being product-focused to being customer-focused, which in turn helps drive profitable growth through better segmentation, risk, and pricing – even in specialty markets.
On top of this data hub, Omni-Insurance provides executives, underwriters, actuaries, claims, and finance teams with pre-built dashboards, reporting, and analytics that include the primary key performance indicators (KPIs) needed to manage their book of business. In addition, the solution collects and manages highly granular data that drives detailed analysis of risk, pricing, segmentation, claims, and more, which can't be achieved through summaries and KPIs.
Finally, Omni-Insurance is built on Information Builders' data and analytics platform, so it is designed to be adapted to user requirements and specialties in any given insurer's market space. This ensures that P&C insurers can implement without the solution without losing the flexibility they need to address their markets.
With a trusted data foundation, pre-built dashboards, reports, and KPIs, and the flexibility to accommodate the needs of their customers in their markets, Omni-Insurance helps P&C insurers understand risk, pricing, segmentation, claims, and other important facets of the business so they can compete more effectively on customer-centricity, product, and risk.
Dennis McLaughlin, vice president of Omni Operations, Information Builders, said:
"Information Builders has worked hand-in-hand with insurers for more than a decade to deliver powerful data solutions that drive profitability. Omni-Insurance will help P&C insurers make the most of their most valuable resource – their data – by bringing it together in an easy-to-use data and analytics hub that features common KPIs, customizable dashboards, and detailed analytics. We look forward to continuing to deliver new and innovative solutions that will help insurers grow and deliver even more value to their business."
About Information Builders
Information Builders provides the industry's most scalable software solutions for data management and analytics. We help organizations operationalize and monetize their data through insights that drive action. Our integrated platform for business intelligence (BI), analytics, data integration, and data quality, combined with our proven expertise, delivers value faster, with less risk. We believe data and analytics are the drivers of digital transformation, and we're on a mission to help our customers capitalize on new opportunities in the connected world. Information Builders is headquartered in New York, NY, with global offices, and remains one of the largest privately held companies in the industry. Visit us at informationbuilders.com, follow us on Twitter at @infobldrs, like us on Facebook, and visit our LinkedIn page.
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SOURCE Information Builders