iPartners solution to offer single-view of insurer’s property/casualty policy and claims data along with business intelligence and advanced analytics for improved decision making
iPartners, the leading provider of Software as a Service (SaaS) business analytics solutions to the property & casualty (P&C) insurance industry, today announced that its iPartners’ Insurance Scorecard has been selected by Farm Bureau Insurance of Michigan. The Insurance Scorecard business intelligence solution will offer a consolidated view and analysis of the insurer’s property/casualty claims and policy data, and provide greater insight into the business for advanced decision making. The iPartners solution will be provided through a Software as a Service (SaaS) model, enabling a quicker implementation combined with an attractive pricing model.
Farm Bureau Insurance of Michigan selected iPartners for its Insurance Scorecard product, combined with the company’s reputation as highly knowledgeable and experienced in property/casualty claims analytics. Also key to the decision was iPartners’ successful track record working with the insurer’s core processing policy systems and in consolidating multiple data sources. Farm Bureau Insurance of Michigan recognized the cost and time advantage in leveraging iPartners’ combination of a proven business intelligence solution, best practices, and expertise. iPartners’ experience in working with mainframe data by validating and loading into the data warehouse, is expected to significantly reduce the insurer’s internal IT staff burden, allowing internal resources and IT staff to focus efforts on other higher value initiatives.
Once in production, the iPartners’ Insurance Scorecard will:
- Provide a single view of policy and claims data, currently spread across multiple disparate claims and policy systems;
- Offer better insights into losses and those policies most often effected, to quickly identify any appropriate corrective action;
- Improve monitoring of the entire claims process with a focus on customer satisfaction and improved business performance through reporting, analysis, and key performance indicators.
“iPartners not only offered a proven and cost effective approach to our data and business intelligence needs with Insurance Scorecard, but their experience in and knowledge about our business and core system processing environment is extremely valuable,” noted Don Simon, Vice President of Claims, Farm Bureau Insurance of Michigan. “We considered building in-house at first, but after talking to iPartners we knew that a smarter approach was to turn to the experts to get the job done. They’ve done it before and have an impressive list of client references that made us very comfortable in making an iPartners decision.”
“We have a good amount of experience in working with farm bureaus and feel that our knowledge in this segment of the property/casualty market is another benefit we offer Farm Bureau Insurance of Michigan,” commented Robert Lasher, iPartners founder and CEO. “With each new client our arsenal of analytics and experiences grows, which translates to more knowledge and best practices to share with all of our clients and to leverage as we continue to enhance our Insurance Scorecard solution. Our goal is to keep getting better and better at what we do by staying focused on our core competency of business intelligence in the insurance industry.”
iPartners’ Insurance Scorecard Business Intelligence solution is an easy to use SaaS solution designed specifically for the P&C industry. The suite offers a complete analytics solution including: insurance specific data warehouse, performance management dashboards and scorecards, ad-hoc detailed analysis, production reporting, and drill to detail.