considering InsFocus and its partners, iTree (Lithuania) and NCDC (Denmark), have integrated TIA leading core insurance system with InsFocus’ integrated data warehouse model, effectively allowing any insurer using the TIA system to perform analysis and get key insights on their data using the InsFocus BI platform.
https://www.marisqueiralareiraportuguesa.pt/index.php/2-uncategorised/51-contacto The integration covered the basic aspects of policies, premiums, commissions, renewal statistics, claim payments, claim reserving & runoff, as well as profitability indicators such loss ratio, loss frequency and combined ratio. InsFocus BI’s model was adapted to the TIA philosophy and processes, including policy/agreement separation, product/product-line and event/case/item hierarchy, and InsFocus’ extensive library of more than 100 reports was adapted to the TIA model and is available out-of-the-box.
Kepala Batas InsFocus BI can now be deployed on any TIA implementation and provide a comprehensive business intelligence solution for insurance companies using the TIA system, and can be expanded to other subject areas such as risks, objects and reinsurance.
TIA Concepts Integrated
TIA’s insurance solution has many unique characteristics which were integrated into InsFocus BI, including:
- Separation of policy (marketing package) and agreement (insurance policy)
- Support for lead agents and commission agents
- Multi-currency support
- Hierarchy of product (policy level) and product-line (agreement level)
- Entity-driven (all customers, agents, etc. are entities)
- Multi-level claim structure, including event, claim, claim item and payment
Under the InsFocus-TIA integration, a wide set of 160 measurements were developed, including::
- Policy counts (e.g. new, renewal, in-force)
- Written premiums & commissions
- Earned & unearned premiums & commissions
- Policies renewed, lapsed
- Claim payments (split to indemnity, expenses, subrogation, deductible)
- Outstanding claim estimates
- Number of claims opened, closed
- Loss ratio
- Loss frequency
- Combined ratio