TurnQuest Insurance Analytics is an end-to-end solution designed specifically for insurance companies to provide better visibility into the factors that drive revenues, costs, and shareholder value. Insurance companies leverage TurnQuest Analytics for better insight into their business performance. With better insights, insurers can then make better business decisions and thus increase profitability.
TurnQuest Insurance Analytics is a modular component of the TurnQuest Insurance Suite that comes with a pre-built integration to TurnQuest Life Insurance, TurnQuest General Ledger and TurnQuest General insurance modules which enable insurance organizations to implement more quickly with less risk, and at a fraction of the cost required to build traditional business intelligence (BI) solutions.
- User self-service capabilities
- Intelligence dashboards for key financial information
- Marketing – sales monitoring, distribution channel performance, marketing campaign effectiveness, lapse analysis, and cross-selling /up-selling report generation
- Underwriting – product- and line – profitability analysis including all profitability indicators, risk analysis and client-level underwriting results
- Claims – claims activity monitoring, indemnity and expense breakdown, claim type separation, reporting delay analysis, claim party control, reserves sufficiency, and exceptions reporting
- Reinsurance – catastrophe exposure control, reinsurance cession profitability, and reinsurance statistics and information
- Simplify Process of Monitoring Operational and Financial Performance.
- Allow companies to construct a Dashboard of metrics to easily monitor KPI’s.
- Eliminate reliance upon spreadsheets to compare metrics from disparate systems.
- Allow greater flexibility for changing the measures used to track performance.
- Empower Decision Making
- Enable companies make informed management decisions e.g. risk mitigation, tactics.
- Easy compilation of operation and financial data for use in budgeting, forecasting and planning.
- Provide stakeholders access to complete, timely and relevant information for cost-efficient decision making
Increase Operational Efficiencies with TurnQuest Insurance Analytics
- Operation trends or problems can be identified and addressed more rapidly
- Department managers empowered with timely information and daily visibility for enhanced accountability and departmental performance.