The ICE Insurance Suite includes a comprehensive Management Information and Business Intelligence (MI/BI) capability that offers extensive reporting features for our end users. In this blog, we are going to have a look at some of the features that we think make our ICE Analytics tool a truly world class MI/BI solution.
ICE Analytics provides a full stack of MI/BI tools to provide a true self-service system for our users, designed to meet a range of analytical needs. ICE InsureTech have consistently sought to create a system that makes as much useful data available to the user as possible. This gives a platform that allows total control, from report and dashboard creation to satisfying on-demand data visualisation and exploration needs. Out of the box we provide an extensive suite of standard operational reports and dashboards. This allows crucial business data to be analysed with ease straight away without the need to spend man weeks configuring and tailoring basic reports.
The pre-built capabilities of our end to end Business Intelligence solution includes the following areas of functionality:
- Extract – pre-configured for ICE Claims and ICE Policy but with the ability to consume data from other source systems through configuration
- Transform and Load – generic components to deliver dimensional data mart format
- Data warehouse – comprehensive fact and dimensional model based on industry best practices
- Standard reports – pre-built Policy and Claims reports to access key business metrics
- Report templates – an array of samples for custom and ad-hoc reporting
- Dashboards – pre-built management information at a glance
- Microsoft Power BI* – powerful device-agnostic exploration and visualisation
- Client database – available to facilitate advanced bespoke needs
The platform allows reports to be accessed on-demand, delivered via email and exported in common formats, such as Microsoft Excel, Word or Portable Document Format (PDF)*. Any data held in the ICE Insurance Suite can be used to create custom Claims and Policy reports, either built from the ground up or based on one of the quick-start templates supplied.
ICE Analytics delivers a comprehensive Data Warehouse based on principles as laid down by the Ralph Kimball Data Warehousing Group. The consistent data approach gives us a single view of the truth, optimised for reporting, with calculations performed direct in the warehouse and not within reports. Our analytics engine can provide pre-calculated summary and history reporting as a designed-in feature, with configured data snapshots. Underpinning this, the system is fully audited, effortlessly dealing with complex needs such as batch-based incremental processing and consolidated reporting from multiple source systems. ICE Analytics focuses sharply on data integrity and has been designed to seamlessly manage historic BI integrity.
As a company, ICE InsureTech follows an AGILE development methodology which inherently means we are focused on Continuous Integration and Delivery (CI/CD). We also conduct extensive client feedback research to determine which ICE Analytics features offer most benefit for the real world. As the ICE Analytics capabilities within our solution evolve via this continual feedback we are able to capitalise on new solutions which we can use our Analytics capabilities for.
An area we continue to focus on is to further support and empower the “Citizen Data Scientist” – allowing every system user the ability to access their data using reporting and exploration features for their own personal use with ease. Features such as natural language queries and embedded real-time analytics can greatly enhance the user experience and put the analysis of critical business data at the fingertips of everyone if desired.
We are also investing more on predictive analytics solutions. Our experience coupled with our advanced analytics capabilities puts ICE InsureTech in a prime position to fully explore opportunities in this area. Our predictive analysis systems will ultimately allow an insurance company to automate or make decisions faster and more accurately, uncovering trends at the earliest opportunity.
As our system has been architected from the ground up to be deployable in a number of different ways, our analytics can also be deployed discretely in applications. This is particularly useful for online portals that may focus on just one area of claim or policy management, for example misrepresentation, litigation or indemnity portals. Business Intelligence and Management Information are key areas for any insurance business. Our continual development lifecycle, unparalleled experience in the analysis and capture of insurance data, and our focus on working with our clients as partners ensures that ICE InsureTech offer the most comprehensive solution in our category.
Some insurance software vendors consider analytics as an afterthought to their systems, often using third party software to provide some or all of the analytics capabilities, and only providing the bare minimum out of the box. Here at ICE InsureTech we consider our ICE Analytics tools to be a crucial and fundamental component of our ICE Insurance Suite. We are constantly looking to the future to find ways we can use our experience and knowledge with advances in technologies to help our customers find more efficient ways of analysing and thus proactively managing their businesses. It is this attention to detail that we believe sets us apart from some of our peers.
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For more information contact ICE InsureTech
ICE Policy has been jointly awarded the XCelent Technology 2021 Award for leading Advanced Technology in Celent’s latest Policy Systems Vendors: EMEA P&C Insurance 2021 report.
2020 was a year of change for the industry and we had a fantastic year as a company. As 2021 kicks off, we are looking forward to another strong year of growth and new customers implementations going live.
ICE InsureTech has been selected as one of the leading 100 companies in the InsurTech100 for 2020, announced by FinTech Global.