Berwyn, PA – August 12, 2010 – When it comes to arcplan's BI development platform, customers are literally raving about it.
iPartners, an arcplan partner, customer, and provider of Software as a Service (SaaS) business analytics solutions to the property & casualty (P&C) insurance industry, has won recognition by the Tech Decisions RAVE Awards for its Insurance Scored business intelligence (BI) solution.
The RAVE Awards recognize technology solutions for the insurance industry and are based on user evaluations submitted through Novarica Average Customer Experience (ACE) Rankings.
iPartners was the only contestant to win RAVE Awards recognition for a BI solution, which is powered by arcplan's development platform arcplan Enterprise. arcplan, an independent business intelligence solution provider, has worked with iPartners for 10 years, first bringing the company itself cost effective, flexible BI tools, and then powering the solutions iPartners offers its property and casualty customers.
"Before our iPartners solution, we used Excel spreadsheets and there was so much data to review, we simply couldn't access everything we needed to make sound business decisions," said Christina Clark, vice president of marketing for Florida-based Olympus Insurance Company, an iPartners client. "Without the BI solution, you would have to have a degree in data mining, and be an absolute wiz in Excel. But now any field representative can access hidden data and view it from any perspective."
Clark points to the tremendous long-term cost savings as well. Without a BI solution, it would be more expensive to get at the data, and the data itself would be in a more esoteric form. It would not be as effective because the point of getting at the data is to share it with customers, employees, and to use it to make better business decisions.
"It's easy for everyone to use, and has so much functionality," Clark said. "Think of it as a dashboard of Excel with pivot tables and graphs all over the place. And it's all pull down menus and drag and drop, so you can drill down for data from any point of view – instantly."
Clark can look at marketing territories, see agent performance, best selling insurance products by zip code, region, county. Whatever variables she chooses to hone in on are just a click away.
"One of the best aspects is that it shows pictures of the data, not just the data, so trends appear better, and all on one page," Clark said. "We send production reports now with a click of a button."
Those reports include the agent's monthly/annual production numbers, loss ratio, growth percentages, everything you need to say hey, you're performing well, or otherwise according to Clark.
"The thing that's unique about the RAVE award is that it's based on 100 percent input from the insurance carriers using the technology," said Robert Lasher, CEO of iPartners. He chose arcplan over other BI development platforms because of its superior reporting capabilities.
"There are very few tools that can do complex financial reporting well," said Lasher. "We could pull data from relational databases and multidimensional databases, mix and match easily, and automatically generate a single report."
Both Lasher and Clark look forward to exploring the incorporation of Web portals, and more interactive, social networking Web 2.0 applications into their BI solutions as the arcplan development platform evolves.
As the industry leading provider of 'on demand' P&C insurance business analytics solutions, iPartners enables improved insurance executives productivity by delivering accurate, up-to-date, easy-to-use and relevant data via a suite of customized dashboards, scorecards, and a library of P&C specific KPIs (key performance indicators). Delivered via Software as a Service (SaaS), iPartners' business analytics solution enables insurance executives to make higher quality and more timely decisions – the true measure of an insurance executive's productivity. iPartners currently services over 30 customers and processes over 15 million policies representing over $12 billion in premiums. For additional information visit www.iPartners.net or call 888.618.8360 ext 230.
arcplan is an established independent business intelligence solution provider delivering timely, contextual and actionable information that empowers businesses to improve business performance while leveraging existing infrastructure. Since 1993, arcplan has enabled more than 2,800 customers worldwide to achieve organizational efficiency through the powerful combination of information and analysis proving beneficial to the bottom line. Get more information at www.arcplan.com.
arcplan’s flagship product arcplan Enterprise® was rated the #1 3rd party tool for SAPBW, Essbase, and TM1 in The BI Survey 9 (2010).
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