Xuber announces the launch of Xuber Analytics, a data analysis tool designed to provide commercial insurers with deeper insight into their business.
Xuber Analytics meets the industry demand for more powerful, comprehensive reporting that turns data into information and crystallizes return on investment. This optional addition to the existing suite of Xuber commercial insurance software allows users to identify and track current and emerging trends and issues, drilling down into the data as needed and enabling businesses to make more informed decisions.
"The commercial insurance industry is undergoing rapid evolution," says Adrian Morgan, COO, Xuber. "Commercial insurers are increasingly looking to mirror personal insurers in terms of their ability to predict and respond to customer demand. Customer centricity is a huge driver for commercial insurers at present, and Xuber Analytics is designed to meet a previously unfilled need in this space."
The software gives commercial insurers the ability to monitor and understand their customers more effectively throughout the insurance life cycle. Insurers can then deliver new products with greater ease and agility thanks to enhanced customer behavior analysis. For example, a claims manager may spot an unexpected rise, month over month, within a certain line of business. Xuber Analytics allows the insurer to add a trend line to analyze this and establish whether any mitigating action—such as ensuring higher retention or introducing additional warranties—is required.
"Put simply, data is the lifeblood of any insurance business—personal or commercial—and Xuber Analytics means that insurers can finally begin to make full use of their data," addsd Morgan.
Xuber Analytics is designed for use anywhere (including on mobile devices), anytime, and by anyone—not simply management or specialists—eliminating the need for extensive manual analysis by skilled analysts. It is customizable, allowing users to pull together data from disparate systems into a personalized, browser-based dashboard to suit individual requirements.
"Xuber Analytics also greatly boosts the ability of businesses to detect and combat fraudulent activity, as well as address compliance requirements with a complete picture of business activities," said Morgan. "Given the recent rise in fraudulent claims and ongoing major regulatory reform, this only adds to its timeliness."
Xuber Analytics was developed in partnership with Innovation Group plc, which produces core insurance software including analytics for the personal, commercial and specialty insurance market. Under the terms of the agreement, Xuber has exclusive worldwide rights to Innovation Group's Insurer Analytics software to use with Xuber products, having customized it for Xuber software.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.