ecumenically Single application that handles report creation, analysis, and viewing

With the InsFocus Business Intelligence solution you can build and view your insurance reports and dashboards using the same uniform software platform.

InsFocus Tour

Jamshedpur Data Model Optimized for Insurance 

The InsFocus DW model is an optimized star-schema dimensional model, adapted specifically for insurance companies’ data. The system’s data model is seamlessly designed for performance optimization and stores granular policy, coverage, claim, and claimant details, enabling flexible drill-down functionality and line reporting. The data model contains:

  • 400 Insurance KPI’S
  • 200 Report Templates
  • 60 Integration Scripts
  • 40 Calculation Templates Create Your Own Reports

With the InsFocus Business Intelligence solution anyone can create reports with a few simple steps. Business users who need new information now can define a simple report on the fly without the need to engage the company’s IT department. Users can also take an existing library report, change it to fit the way they need the information and save their version in their private reports section.

Linfen Embeddable Insurance Calculations

InsFocus uses open SQL templates to perform insurance calculations (such as unearned premiums) on the fly. The system’s business logic is captured in calculation templates which are open to customization by the client’s data scientists. The system is delivered with 60 out-of-the-box templates handling earned and unearned premium calculations, exposure calculations, analysis of renewal activity, measuring claim reserves’ run-off and more.

Powerful Drill-Down and Drill-Through

When an insurance professional opens an InsFocus report, it is the beginning of a journey. The system enables professionals to dive down into the data, with unlimited drill-down and drill-through capabilities, down to client, policy or even insurance coverage level. Similarly, for claims information, professionals can dive down to claim payment or individual reserve adjustment granularity.

Insurance Risk Parameters

It is well known that the data captured varies greatly for different insurance lines of business. For example, in auto/motor lines of business, insurers typically capture car model, make, engine size, driving restrictions and similar attributes they believe to influence the risk, whereas in health insurance they capture totally different attributes of the insureds’ personal, lifestyle and health information.

InsFocus comes with a built-in data model coupled with a unique analytic mechanism that captures these different attributes/parameters in a unified structure for all the lines of business in an insurance company and enables slicing the information by them in any report or analysis.

Insurance Time-Dependencies (Time bases)

This is another aspect where insurance information and analytic  needs are different than other business domains. Insurance information can be analyzed on Financial basis (such as in the company’s financial reports), on Operational basis (like in classic sales reports), or on Underwriting year (or Accident year) basis.

All these different modes of analyzing the same information are pre-built into the InsFocus analytic engine to provide insurance professionals with all the tools they need to analyze the performance of their insurance portfolio.

Claims Triangulation Statistics

Analysis of claims development by actuaries requires a special analytic format – triangulation statistics. This format is built into InsFocus in a totally flexible manner that is very useful for actuaries and provides them with the means of triangulating any selected time axis (time base) with another. For example, triangulation can be built to analyze claim incurred development over time compared to the base underwriting date or to the base accident date – and any other logical comparison.

This is extremely useful for actuaries who use these statistics to calculate the IBNR reserves.

Scheduling Reports

Scheduling reports to be run automatically at pre-determined dates is very useful for business users at all levels. At operational level it can be used to provide underwriters with monthly renewal schedules, in the financial department it can be used to provide quarterly lists and summaries supporting regulatory reporting activity and more.

InsFocus provides users with a scheduler that can be set to run reports automatically sending the results embedded in an email, in PDF or in Excel formats.

Batch reports can be scheduled once by the company system administrator for a large number of units (e.g. branch offices) and each unit will automatically receive the report containing the information relevant to them.

Scheduled Reports

Enterprise-level information restrictions and control

For large organizations access to information restriction are of paramount importance. InsFocus BI provides sophisticated mechanisms to support that.

This begins with organization-level restrictions that make sure each member of the organizational hierarchy has access to their information only. It enables the company to open information via InsFocus to branch offices, district offices and even agencies. Similarly report libraries can be restricted to departments enabling access to certain reports only within the department.

The next step is information restriction based on type of information item. For example, a company can decide that all information relating to reinsurance (independent of hierarchy in the company) is only open to the reinsurance department and very senior management.

Another aspect of the same requirement, is information related to specialty lines – that would be open only to the departments dealing in these specialty lines.

And finally, from the system point of view InsFocus provides action-based restrictions (e.g. which users are allowed to compose their own reports, which are allowed to export information to Excel or PDF, which are allowed to save reports in the private libraries).