Information Builders launches data and analytics hub for P&C insurers

New tool to help insurers undergo true digital transformation beyond simply improving operational efficiency

Information Builders launches data and analytics hub for P&C insurers

Technology

By Lyle Adriano

Information Builders – a provider of business intelligence, analytics, and data management solutions – has announced the launch of a new data hub that could help P&C insurers.

The Omni-Insurance hub will provide insurers with business-ready data, helping them transform from a product-driven to a customer-driven enterprise.

According to a release by Information Builders, P&C insurance companies are investing in digital transformation across every aspect of their businesses – from policy and ratings to claims and billing. However, the applications they implement typically focus only on improving operational efficiency. Moreover, the data siloes they create could hamper their ability to achieve complete digital transformation.

Omni-Insurance offers insurers a “subject-oriented data repository that integrates data about insured parties, brokers, policies, underwriters, assets, and claims.” The hub provides a historical, comprehensive view of the P&C business.

The platform also offers executives, underwriters, actuaries, claims, and finance teams pre-built dashboards, reporting, and analytics that include primary key performance indicators (KPIs) to manage their book of business. Omni-Insurance can also be adapted to user requirements and specialties in any given market space.

“Information Builders has worked hand-in-hand with insurers for more than a decade to deliver powerful data solutions that drive profitability,” said Information Builders Omni Operations vice-president Dennis McLaughlin.

“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,” McLaughlin added.

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