Thazar, A Skywire Software Company, today announced the availability of INSsight 4.0, the latest version of its comprehensive, end-to-end business intelligence (BI) system designed specifically for the property and casualty (P&C) insurance industry.
INSsight is the first customer-driven BI system that provides insurers with a strategic, enterprise-wide view of their information across all operating units from actuarial and accounting to underwriting, claims, sales and marketing. By using INSsight, insurance companies can automatically measure performance against goals, identify and track trends, detect and respond to threats and identify and take advantage of real opportunities.
The INSsight Business Intelligence System is comprised of three areas:
- Information Management: INSsight provides key features insurance organizations need to manage their information including: extract, transform and load (ETL) processes; data configuration templates; a meta data repository; a P&C enterprise data model; data marts; and a data warehouse. These integrated components simplify the process of mapping and moving data into a powerful warehouse environment that serves as the foundation for INSsight’s Web-based applications suite.
- INSsight Applications Suite: INSsight includes a suite of powerful Web-based analytical and reporting applications with built- in insurance metrics that use proven decision theory and statistical testing. Users have instant access to key performance indicators and alerts as well as the ability to view reports and analysis on screen, in standard report formats and in intuitive charts.
- Implementation and Support Services: Thazar’s experienced insurance technology professionals guide customers through the implementation process to keep it on time and within budget, as well as provide maintenance and support. As the acknowledged leader in data warehousing and BI software for the P&C insurance industry, the Thazar team of insurance technology professionals has experience extracting data from the most popular policy and claims administration packages available on the market today.
INSsight 4.0 is based on ACORD and ISO standards. The system is both J2EE 1.3 and EJB 2.0 compliant, which enables it to run on any compliant application server, such as IBM Websphere and BEA WebLogic. INSsight supports multiple operating environments, including Unix or Windows, and industry leading database platforms, such as Oracle and SQL Server.
The new version also includes the following enhanced reporting and analysis functionality:
- Enhanced Report Creation and Cataloging: Users can quickly generate, view, distribute, catalog and retrieve critical management information reports electronically. Users also can import and catalog third-party reports in a file system-based catalog. As an added benefit, custom reports can be created using data cubing technology.
- Expanded Query and Analysis Capability: A query tool that enables ad hoc analysis of the warehouse environment. Queries can be initiated using Structured Query Language (SQL) or through a Wizard.
Thazar’s INSsight can be implemented quickly and cost effectively, with customers experiencing ROI within four to six months. P&C insurance companies can get started on reaping the benefits of using a business intelligence system through Thazar’s Professional Services. Based on the company’s years of experience building data warehouses and business intelligence software for its insurance customers, Thazar offers BI readiness workshops, benefits analysis studies and customized services.
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