Phoenix, a leading insurance company in Israel, has selected InsFocus BI software from InsFocus Systems to deliver reporting and analytics across the organization. The new software will provide InsFocus’ library of insurance information items and pre-defined reports, as well as Phoenix specific business content to business users and analysts. Access to company agents will be considered after the system goes live. Once implemented, the software will help Phoenix streamline and automate its information delivery processes.
In the first project stage, the company will utilize InsFocus BI to provide reporting and analytics for its general insurance book of business. Health and Life portfolios will be considered for next project stages. InsFocus BI will be implemented over Phoenix’s existing analytic data warehouse residing on IBM Netezza hardware. “To provide the superior level of analytics our business users expect and deserve, we need to deploy an insurance focused BI system that they can use independently to analyze the information captured in the data warehouse as per their diverse requirements” said Phoenix’s Chief Information Officer Shlomo Shamay.
“Phoenix is one of Israel’s top insurance companies. We’re very excited that Phoenix has selected our software to provide analytics and reporting at enterprise level and look forward to working with them to deliver a solution that will support the company’s high analytics standards” said Uri Taiber, founder and CEO, InsFocus Systems.
InsFocus BI is an insurance focused business intelligence suite that covers the whole spectrum of insurance company business processes including sales & marketing, underwriting, claims management, reinsurance, financial reporting and actuarial services. The configurable software is designed to provide the complete data warehousing life cycle including data modeling and ETL, or as a reporting and analytic platform on top of a company’s existing data warehouse. The pre-built insurance data model and rich library of insurance information items and reports covers all lines of general (P&C) insurance. The software can be deployed through both on-premise or hosted as a service.
Phoenix Group has been operating in the insurance industry for more than 60 years and it is currently one of Israel’s five leading insurance groups. The company and its subsidiaries operates in Life, Health and General insurance as well as other financial services. The company’s annual premiums 2014 were NIS 8,931 million (equivalent to approximately US $ 2,300).
InsFocus Systems is a leading provider of insurance-specific business intelligence (BI) software providing insurers with business insight and helping them improve underwriting profitability. Leveraging decades of insurance industry experience with BI and data warehousing (DW) expertise, InsFocus delivers clear, focused information across all insurance business domains including marketing, underwriting, claims, reinsurance, actuarial work, risk and financial management.