Compass Insurance Company Limited, a South Africa-based subsidiary of Hannover Re Africa, has selected iPartners for business intelligence and data warehousing.
iPartners' platform aims to help P&C insurers use data, offering management dashboards and scorecards, ad-hoc detailed analysis, production reporting and drill to detail, according to a press release.
Compass Insurance has several separate entities, which would benefit from a solution that can manage data from the back office for policy and claims, company executives say.
"iParthers is able to provide us with the ability to best manage our data risk, and ultimately our business risk," says Managing Director of Hannover Re Africa, Randolph Moses. "The accuracy and completeness of our data are key to managing our business."
Paul Carragher, managing director of Compass Insurance, adds: "The Proof of Concept really convinced us that iPartners not only offered a quality solution with PC specific content we were looking for, but the team brings a highly valuable combination of expertise from P&C to data warehousing to business intelligence," adds Carragher.
iPartners Ltd. is a consulting company that designs, builds, manages and optimizes customized networks and network-related solutions that are strategically tailored to meet an organization's goals and requirements.
As the industry leading provider of 'on demand' P&C insurance business analytics solutions, iPartners enables insurance executives to make higher quality and more timely decisions -- the true measure of an insurance executive's productivity - by delivering accurate, up-to-date, easy-to-use and relevant data via a suite of customized dashboards, scorecards, and a library of P&C specific KPIs (key performance indicators). Delivered via Software as a Service (SaaS), iPartners currently services over 45 customers and processes over 25 million policies representing over $18 billion in premiums.
iPartners also announced that it has again been named as a ‘Leading Vendor’ by Celent in the recently published Insurance Deal Trends 2013 report. This is the fifth consecutive year iPartners has been recognized for its ‘leading’ status based on deal flow with insurance carriers for iPartners’ business intelligence and data warehousing solution.
“We congratulate iPartners on once again being named a leading vendor for its continued strong deal volume. A continued investment in core systems renewal was clearly reflected in the property and casualty deal data”
“We congratulate iPartners on once again being named a leading vendor for its continued strong deal volume. A continued investment in core systems renewal was clearly reflected in the property and casualty deal data,” says Mike Fitzgerald, senior analyst with Celent’s Insurance group and coauthor of the report. “There was also an increase in data mastery tools and P&C carriers compete in pricing and risk analytics. Once nice-to-haves, advanced analytics are becoming table stakes.”
“Our 2013 report shows that overall deal activity among P&C insurers continues to be slow. However, investments in core systems and data analytics have buoyed sales for key vendors like iPartners,” says Karen Monks, analyst with Celent’s Insurance group and coauthor of the report.
iPartners founder and CEO Robert Lasher commented on the recognition saying, “We are thrilled with our fifth consecutive year of Celent Deal Trends recognition and credit much of our consistent success to our ongoing investment to deepen and broaden the capabilities of our BI and data warehouse solution. As we’ve enhanced our offering, the industry has also become more aware of the cost, time, dependability and ongoing support benefits of SaaS platforms and Cloud delivery, resulting in insurers better prepared to take advantage of what we have to offer – not just in our data and analytics capabilities, but also in our delivery model.”
iPartners’ insurance business intelligence solution is an easy to use SaaS solution designed specifically for the P&C industry. The suite is built around an insurance specific data model and offers a complete analytics solution including: a data warehouse, performance management dashboards and scorecards, ad-hoc detailed analysis, production reporting, and drill to detail.
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