InsFocus is developing a specialized extract-and-transform tool designed to integrate smoothly with INSIS, insurers will then benefit from a ready-to-use Operational BI solution and have the opportunity to add an advanced analytics layer designed to unlock deeper insights. Additionally, the partnership will offer Fadata customers a comprehensive Data Warehouse solution, providing a robust foundation for long-term data management and analysis.
Thanks to this new partnership insurers are delivered informed decision-making, optimized operations, and improved customer experiences, with the hassle-free, pre-agreed terms offered via the Fadata Ecosystem.
Jaime Molina, Head of Product Management at Fadata, said,
"We are committed to empowering insurers with the tools they need to thrive in an increasingly data-driven industry. We are excited to team up with InsFocus to deliver unparalleled data analytics capabilities and ensure INSIS users can unlock the full potential of their data."
Daniel Taiber, VP R&D, InsFocus, added,
"We’re delighted to join forces with Fadata and bring our expertise in insurance BI to their clients. The harmonious combination of our technologies, will make operational and analytical insights accessible and actionable, helping insurers stay competitive and agile in the rapidly evolving insurance landscape."
Key Highlights of the Partnership
Operational Data Store (ODS):
- Extract data from INSIS into a dedicated publication area.
- Transform and restructure data into business-oriented formats, aggregating information from billing, collections, and other domains.
- Translate cryptic fields into meaningful nomenclature for better usability.
- Offer dynamic configurability, enabling customization to meet customer-specific requirements.
Operational BI:
- Out-of-the-box deployment with no initial configuration required.
- Key performance indicators (KPIs) to measure sales, renewals, claims, and more.
- Pre-built reports and dashboards, enhancing visibility into core operations.
- The ability to extract data for use in third-party applications or visualize it directly via InsFocus BI.
Analytical BI:
- A pre-built ETL process enhancing the structure, calculations, and definitions from the Operational BI layer.
- Advanced metrics and capabilities, such as earned and unearned premiums, loss ratios, and renewal premium difference analysis.
- Out-of-the-box functionality with no setup fees, ensuring ease of adoption.
About InsFocus
InsFocus Systems was founded by Uri Taiber, ex. CEO of an insurance company, with the mission of building a highly advanced yet simple to use business intelligence suite.
Leveraging decades of insurance industry experience paired with BI and DW expertise, InsFocus brings advanced analytics to every part of the insurance business, including marketing, underwriting, reinsurance, actuarial, and accounting domains.
Building on its extensive field experience, InsFocus developed a Structured Insurance BI Methodology to create and deploy BI projects with predictable and accurate results, customizability, and user-friendliness.
About Fadata
Fadata boasts the super-power to build the future of insurance. With a heritage spanning over three decades, we are a leading provider of software for insurance companies globally and deliver a highly flexible SaaS model. Together with our customers and our partners we have created an expert community that is driving customer engagement, innovation and business value, making change happen and impacting millions of people’s lives every day.
Fadata has clients in over 30 countries across the globe. Headquartered in Munich, with international offices in Spain, Bulgaria, Denmark, Peru and Malaysia, Fadata is backed by Private Equity Riverside and Lowell Minnick.
