Recognizing the growing importance of empowering the insurance industry to turn ever-increasing amounts of data into real insight that can help drive business growth, Vertafore announces that it plans to integrate the Oracle Business Intelligence suite, providing enhanced reporting across the Vertafore product portfolio.
According to a report from industry analyst firm Novarica, "The rising tide of 'big data' threatens to overwhelm enterprises that haven't yet truly gotten a handle on 'little data.'"
Beginning in the fourth quarter of this year, Vertafore's insurance agency management system, AMS360, will begin delivering the significant new capabilities such as:
- Interactive dashboards so agencies can monitor critical business performance metrics in real-time
- Customizable reports enabling business users to easily view information relevant to them
- Supports mobile devices including iPads and iPhones with native apps which empowers field employees to remain current on business performance
- Tight integration with Microsoft Office, including Excel and Word for exporting information into larger business reports
The same Novarica report recommended the following for insurers just getting started with analytics: "Consider leveraging partners with insurance solutions, content and consulting services to guide and accelerate the process. Few insurers have the resources to build strong team and capabilities without some external assistance and expertise."
"The integration helps customers translate data into actionable insight by equipping them with critical information that can help them make the right decisions to maintain high business performance and achieve revenue goals," says Mark Craig, Vertafore senior vice president of product management. "This strategic decision creates a new standard for agencies, carriers and MGAs who recognize the power of having the production and financial insight to give them competitive edge."
Vertafore plans to integrate the Oracle Business Intelligence suite across its entire portfolio in 2013 and 2014. Vertafore has also standardized on Oracle Fusion Middleware and Oracle Database across the Vertafore product portfolio.
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