Posted on 31 Jul 2012 by Neilson
Recognizing the growing importance of empowering the insurance industry to turn ever-increasing amounts of data into real insight that can help drive business growth, Vertafore announced that it plans to integrate the Oracle Business Intelligence suite, providing enhanced reporting across the Vertafore product portfolio.
According to a report from industry analyst firm Novarica, “The rising tide of “big data” (enormous volumes of internal and external structured and unstructured data) threatens to overwhelm enterprises that haven’t yet truly gotten a handle on “little data” (structured enterprise data).1”
Beginning in Q4 2012, insurance agency management system AMS360 will be the first solution to begin delivering the significant new capabilities, differentiating it from other industry offerings:
· Interactive dashboards so agencies can monitor critical business performance metrics in real-time
· Customizable reports enabling business users to easily view information relevant to them
· Supports mobile devices including iPads and iPhones with native apps which empowers field employees to remain current on business performance
· Tight integration with Microsoft Office, including Excel and Word for exporting information into larger business reports
The same Novarica report recommended the following for insurers just getting started with analytics:
“Consider leveraging partners with insurance solutions, content and consulting services to guide and accelerate the process. Few insurers have the resources to build strong team and capabilities without some external assistance and expertise.1”
Mark Craig, Vertafore senior vice president of product management commented, “The integration helps customers translate data into actionable insight by equipping them with critical information that can help them make the right decisions to maintain high business performance and achieve revenue goals. This strategic decision creates a new standard for agencies, carriers and MGAs who recognize the power of having the production and financial insight to give them competitive edge.”
Vertafore plans to integrate the Oracle Business Intelligence suite across its entire portfolio in 2013 and 2014. Vertafore has also standardized on Oracle Fusion Middleware and Oracle Database across the Vertafore product portfolio.
Vertafore delivers software and services that transform the business of insurance. Unique to the industry, more than 20,000 customers rely on Vertafore to provide integrated technology that connects the entire industry with the most complete source of solutions—agency management, rating and connectivity, content management and workflow, research solutions and producer lifecycle management—so their businesses run better and are more profitable. For more information about Vertafore, please visit www.vertafore.com.
Vertafore, AMS360 and other trademarks are trademarks of Vertafore, Inc. Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.
1. Matthew Josefowicz, Martina Conlon, Steven Kaye, “Analytics and Big Data at Insurers: Current State and Expectations,” Novarica, June 2012, http://www.novarica.com/reports_analytics_bigdata/