Allfinanz, a provider of automated underwriting software solutions to the life insurance industry, has announced the launch of its new product, Allfinanz Business Analytics, a business intelligence product that builds out the company's product suite to provide users with insight into the processing of new life insurance applications.
"The additional value a life insurer can realize through adopting the Allfinanz Business Analytics platform is enormous," says Paul Donnelly, director of product management and marketing at Allfinanz. "Our clients have huge amounts of valuable but incredibly detailed data--on the applicant, on the process, on the channel, and on the decisions that were applied. Allfinanz Business Analytics [allows users to] sort through the mountain of data to find the nuggets of information that really impact the business."
The product includes a library of predesigned reports for various stakeholders in life insurance companies, enabling them to analyze and fine-tune underwriting rules, operational processes, and distribution effectiveness. Reports either can be generated directly by end-users and business people on demand, without recourse to IT support, or be produced according to predetermined schedules. Once generated, reports can be interactively navigated, allowing relationships between data points to be pinpointed and investigated immediately.
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