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HITactics™ Analytics for Insurance

Information is the strategic asset that drives profitability in the insurance industry. Timely information also helps insurers minimize risk and become more agile. Speed-to-market, cost reduction and regulatory compliance are key business drivers pushing insurers to consolidate and integrate their information technology investments.

Too often, however, the operating systems that manage policies, process claims, handle billing and calculate commissions can't support the in-depth compliance reporting, performance management and planning capabilities that today's insurers need. In large firms, important data is often trapped in silos within individual business units. Unfortunately, many firms still use manual processes, isolated reporting platforms and spreadsheets to analyze volumes of historical data.

Discover Opportunities, Drive Decisions

Our analytic solutions for Property & Casualty, Life & Annuity, Health and Re-insurance deliver the key performance indicators, metrics and alerts you need to track performance, measure profitability and comply with regulatory requirements.

Eliminate error-prone, time-consuming reporting processes
Increase customer acquisition, retention and share of wallet
Improve decision-making with enterprise-wide visibility
Track the performance of agents and brokers
Understand profitability by channel, market and line of business
Monitor regulatory and organizational compliance
Make more informed risk management decisions

Lines of Business

Financial Planning

Retirement & Savings

Life Insurance

Property & Casualty Insurance

Long-Term Care

Disability

Health Insurance

Annuities

Mutual Funds

Securities

Re-Insurance

Don't deliver reports. Deliver value.

HITactics™ INS plays a crucial role in every aspect of the Insurance Value Chain, from customer touch point to compliance reporting. Sample analytics include:

Customer Analytics

Performance Indicators	Business Dimensions	Scorecards & Reports
Customer Profit	Customer	Attrition Ratio
Attachment Rate	Distribution Channel	Cross-Sell/Up-Sell Success Rates
Contribution Margin	Organization, Business Unit	Incentive Effectiveness
Lifetime Value Score	Geography	Campaign Conversion Rates
Renewal Rate	Product/Service	Product Penetration
	Time/Calendar

Product Analytics
Performance Indicators	Business Dimensions	Scorecards & Reports
Customer Count	Product	Top 10 Products
Product Count	Customer	Worst Products
Product Revenue	Distribution Channel	Product Profitability
Gross/Net Profit	Demographic	Propensity to Buy
Up-Sell Revenue	Geography	Product Analysis by Line, Type
Cross-Sell Revenue	Event	Cross-Sell/Up-Sell Success Rates
	Time

Claims Analytics
Performance Indicators	Business Dimensions	Scorecards & Reports
Loss Ratios/Amounts	Claim/Transaction	Forecasted Losses
Reserves	Claimant	Actual Losses (Office, Adjuster)
Expenses	Loss (Cause)	Reserves by Region, BU
Claim Counts	Accident and Injury	Claims Pipeline
Savage Receivables	Coverage	Fraudulent Claims
Subrogation Recoveries	Channel	Claims Processing Times
	Organization, Business Unit

Financial Reporting & Compliance
Performance Indicators	Business Dimensions	Scorecards & Reports
Actual, Budget & Forecast	General Ledger Account	Sarbanes-Oxley Compliance
- Revenue	Customer	Organization Compliance
- Expense	Product/Service	Revenue & Expense Analyses
- Income	Organization, Business Unit	Forecasts, Sales & Budgets
- Unit Sales	Distribution Channel	Case Analyses
- Shipments	Geography	Customer Complaints
	Time/Calendar	Agency, Agent Profiles

For more information, please contact us.

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