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Better Business Intelligence: The Adaptive Data Modeling Advantage

As an insurance company executive, you've just emerged from one of the most disruptive market shifts in recent memory.

By Jason Mcdonald | Updated on December 13, 2010
As an insurance company executive, you’ve just emerged from one of the most disruptive market shifts in recent memory. You’re under pressure from your customers and sales channels to provide competitive products at the best prices; from government bodies to comply with ever-shifting regulations; and from your shareholders to consistently turn a profit. All of these stakeholders are clamoring for information. Sales channels want to know which products are selling well, regulators want audits, and shareholders want to be kept informed about the state of the business.

It’s this demand for immediate, accurate information that is driving the current interest in business intelligence (BI) solutions.

Most insurance executives understand the value of BI. They agree that it can help them make smarter business decisions that will ultimately put their companies in the best possible competitive position. Yet, in the insurance industry, BI has historically been as much of a pain point as it is a solution. Many insurers lack the expertise, time and strategic business requirements for the data warehouse and subsequent analytics projects, especially when multiple lines of business are involved. In general, it takes a long time to get insurance BI projects off the ground–two years is not uncommon.

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