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Accenture Business Intelligence Insurance
Accenture Business Intelligence Insurance
Real-time enterprise metrics management, reporting and what-if analysis to support faster and better decision making in insurance
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Every day, senior executives in the insurance industry must make complex, business-critical decisions that take into account a wide array of performance metrics and market intelligence. Facing rigorous regulation and complex information-rich value chains, insurance companies have an absolute need for detailed, granular knowledge of what is happening in their operations, together with an ability to analyze this information in real time to investigate specific events, emerging trends and future what-if scenarios.
In many cases, the difficulty of achieving world-class business intelligence (BI) in insurance is compounded by insurers legacy information assets. At the same time, ongoing change in consumers, competition and capabilities means insurance businesses face growing pressure to break down their traditional, rigid information silos. According to Accenture research on information management in Europe and North America, 75 percent of CIOs plan to have a full enterprise-wide information management strategy in place within three years while nearly 60 percent see BI as core to competitive differentiation.
via tailored, rules-based executive dashboards. Comprised of 200 data metrics coupled with a data connector and a virtually preconfigured portal, EMM can be implemented swiftly and efficiently in any insurer. By leveraging Accentures pre-configured tool, insurance industry knowledge and experience in determining the right metrics to include, insurance companies can avoid reinventing the wheel and save millions on their technology investment. Reporting. Comprehensive reporting capabilities based on Web intelligence reports that drill down to the enterprise metrics and provide detailed and flexible real-time intelligence on the companys performance against any chosen indicators. The reporting is structured in a logical and hierarchical way, enabling executives to conduct root cause investigations to the most granular level at the click of a button.
What-if analytics and scenario planning. Sophisticated modeling capabilities, enabling performance data drawn from the EMM and reporting modules to be tested and trailed against changes in any chosen combination of variables. This enables executives to model in advance the impact and interdependencies that would arise from any given management action. Insurers using the Accenture BI Solution for Insurance find that this capability rapidly establishes itself as an invaluable and indispensable tool for decision support across all areas of the business.
How it works
The Accenture BI Solution for Insurance operates through an accessible, userfriendly graphical interface, with clear and consistent use of dashboards, charts and colors. All three of the core elementsEMM, reporting and analyticsare integrated in a single solution, with seamless and interlinked use of the same performance data across each application.
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About Accenture
Accenture is a global management consulting, technology services and outsourcing company. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the worlds most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. With more than 175,000 people in 49 countries, the company generated net revenues of US$19.70 billion for the fiscal year ended Aug. 31, 2007. Its home page is www.accenture.com.
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Contacts
The best way to appreciate the power of the Accenture BI Solution for Insurance is to see it in action. To arrange a live demonstration and a discussion about the benefits it could deliver to your business, please contact: Omer Sohail Senior Director, Accenture Information Management Services - Financial Services Market Development omer.sohail@accenture.com Doug Winter Partner, Accenture Insurance Industry doug.winter@accenture.com