With the vast amount of customer data being collected from often multiple policy, claims, billing, other insurance applications, and from newer trends like IoT, the Property and Casualty (P&C) industry has one of the largest and expanding data sets and information available at their data centers. It has become increasingly imperative that insurers are able to harvest and leverage this data and perform the key analytics that will enable them to stay ahead of their competition, and Insurity, with their comprehensive set of insurance specific data management and analytics solutions for the P&C Industry offers exactly this. Insurity, with its headquarters in Hartford, CT, lets insurance companies, MGAs and TPAs harvest, integrate, report and perform analytics on data from any policy, billing, and claims applications in a single scalable solution, while also providing re-insurance capabilities, and services specific to insurance bureau reporting.

Our solution provides the fastest and most comprehensive solution for insurers to aggregate and analyze data across all of the different sources of information available to them

Insurity’s data analytics solution, Insurance Enterprise View (IEV), captures data and delivers optimized and insightful analytics that allow its clients to gain a significant competitive advantage. IEV packages five distinct data components that every insurer requires into a single, fully integrated solution, significantly reducing the complexity and total cost of ownership of solving this critical business challenge. IEV includes a data integration hub, transactional and operation data store, data marts, operational and management reports, analytic cubes, a manual data entry capability, and a set of insurance specific analytics dashboards and KPI’s. All components are built on a non-proprietary ACORD standards, reducing the complexity of integrating with internal and external data sources.

Bruce F. Broussard, Jr,  VP, Data Products & Strategy, insurity providing the most comprehensive tools for pc insurance data management analyticsBruce F. Broussard, Jr, VP, Data Products & Strategy
IEV offers the most comprehensive set of data repositories in the insurance industry, with more than 11,000 data attributes and supporting more than 30 lines of business out of the box. “IEV not only brings all of the data together but also aggregates it across all of the different systems that insurers have into a non-propr i e t a r y, i n d u s t r y standard ACORD structure, allowing our clients to quickly gain control of their data and establish a platform that supports and delivers world-class analytics”, says Bruce F. Broussard, Jr., VP of Data Products and Strategy, Insurity.

Apart from providing data analytics solutions, Insurity also provides policy administration capabilities through insurance bureau reporting. “We have a unique relationship with ISO, a leading source of information for P&C insurance, which helps us build solutions that have more features, capabilities and flexibility. It allow insurers to configure our product to take advantage of the incredible depth of functionality that we have”, explains Broussard. Insurity allows its P&C clients to reduce the effort, time and money required to meet standard reg ul at or y r e p o r t i n g by offering s o l u t i o n s around bureau reporting which are comprehensive and flexible.

With an extensive list of clients both for their IEV solution and policy administration capabilities, Insurity has carved out a name for itself among the industry leaders by maintaining a high level of innovation and commendable time-to-market speed. This was recognized by the industry as Insurity’s won the 2015 ACORD Innovation Challenge for IEV.