InsFocus Systems Ltd., a global insurance BI specialist, today announced the release of a new fully Web-based version of InsFocus BI, the company’s flagship insurance-specific business intelligence (BI) system. The new version will be launched at the annual meeting of the Casualty Actuarial Society (CAS), to be held November 9-12, 2014 in New York.
The new version – InsFocus BI 3.0 – represents a breakthrough in user-friendliness and simplicity, and includes extensive usability and performance enhancements. It harnesses the growing popularity and powerful capabilities of the newest Web technologies, including HTML5, ASP .NET MVC, jQuery and CSS3, to allow faster and easier data analysis and reports preparation, and a better user experience, including new dashboards. This powerful version allows performing all InsFocus reporting and analysis directly from the Web, and supports all modern browsers, including IE 9+, Chrome, Firefox and Safari. The client system is totally zero footprint, with no installation or plug-ins needed.
“Much of the actuary’s work involves collecting and normalizing data for the actuarial calculations,” said Uri Taiber, InsFocus CEO. “InsFocus BI is a convenient infrastructure enabling the actuary to prepare the data required for various analyses quickly and easily. It saves him hours of grunt work, allowing him to focus on professional actuarial work. It also gives other company stakeholders – in financial, underwriting, marketing and claims departments – analyzed information needed in the course of their work.”
InsFocus BI 3.0 is based on open architecture, which makes it easy to customize and adapt to various types of reports. The new intuitive interface enables creation, editing and viewing multiple reports in different tabs, in many languages. It allows viewing private, public and shared libraries with hierarchical categories. InsFocus BI allows a wide variety of data manipulations in the reports, including sorting, filtering, aggregating, cumulative views, triangulation and more.
A distinct characteristic of InsFocus BI is embedding insurance calculations and algorithms in the BI framework. These include earned and unearned premiums calculations, exposure calculations and similar. IBNR allocation algorithms can be customized per client request.
New to the Web-based 3.0 version is the introduction of shared libraries, enabling system administrators to split the company’s reports library to various sub-libraries according to the needs of specific groups or departments, preventing the clutter of having all the reports in a single library.