Petach Tikva, Israel (PRWEB) March 07, 2013
InsFocus Systems Ltd. , a provider of analytics solutions for insurance companies, today announced that the company's flagship product, InsFocus BI, has been tested on Microsoft’s SQL Server 2012 at the Microsoft Technology Center (MTC), and the results demonstrated the product's effectiveness and record performance for very large insurance companies. The system ran complex reports over 93 million policies getting results within seconds. A typical sales analysis returned results in 2.2 seconds, while an exposure-based agent profitability analysis was done in 12 seconds.
InsFocus BI is an analysis and reporting system for the insurance industry. It enables insurers to gain insight into their business performance and profitability. InsFocus BI enhances insurance company profitability by delivering clearly analyzed and focused information to business executives and professionals in the marketing, underwriting, claims, reinsurance, actuarial and accounting spheres.
"The benchmark has clearly demonstrated that InsFocus BI is an optimal analysis tool for insurance companies of all sizes – from small/medium companies up to very large insurance firms," said Uri Taiber, InsFocus CEO. "Insurance companies can very quickly run a large variety of reports and queries, from very simple to very complex, to meet their great variety of analytic requirements."
InsFocus is a Microsoft Certified Partner. The benchmark team included professionals from the MTC, InsFocus Systems and Nous Infosystems (InsFocus's global implementation partner).
Queries were run on three data warehouse sizes, measured in number of policy transactions: 4.5 million, 23 million and 93 million. Twelve different queries of varying complexity levels were run, simulating a variety of reports and queries typical to insurance companies. Even in the largest database of 93 million policies, simple queries, such as sales, ran in 2-7 seconds on average. Intermediate queries, such as lapse analysis, ran in 5-39 seconds and very complex queries, such as year-over-year profitability calculations, ran in 8-108 seconds. When the calculations were done on smaller groups of 4.5 or 23 million policies – queries ran in a fraction of the time.
Typical queries were multi-year insurance portfolio profitability calculation, year-over-year comparison of premiums, policies issued and average premium by insurance product, complete five-year financial-based profit-loss accounting on a Gross-Reinsurance-Net basis, pro-rata calculation of policies exposed compared to number of claims on an occurrence basis, and others.
“We have worked with big data warehouses before, but for larger companies we wanted to test the system on a huge insurance data warehouse," said Hanan Taiber, InsFocus CTO. "Those tests, carried out in MTC facilities, clearly demonstrated our system’s ability to serve very large insurance companies in an optimum manner.”
“We have chosen InsFocus as our go-to-market solution for insurance companies. Those tests prove that we made the right decision and that insurance companies of all sizes can benefit from this solution,” said Ajith Pillai, CEO of Nous Infosystems.
“We knew SQL 2012 is a great platform for data warehousing," said Govind Kanshi, Technical Director, Microsoft Technology Center, Bangalore. "Coupled with the knowledge and insurance capabilities of InsFocus, this combination can help insurance companies better understand their data and improve their bottom line.”
About InsFocus Systems
InsFocus is a leading provider of insurance analytics software. Leveraging extensive insurance industry experience paired with business intelligence (BI) and data warehouse (DW) expertise, InsFocus Systems brings advanced analytics to every part of the insurance business, including marketing, underwriting, reinsurance, actuarial, and accounting domains. InsFocus flagship product, InsFocus BI, includes a unique data model built specifically for insurance companies, and contains numerous pre-built insurance-specific templates, data structures, reporting formats, solutions, calculation methods and metrics. InsFocus is a Microsoft™ Certified ISV Partner, operating globally through Microsoft implementation partners. For more information visit the company's website.
About Nous Infosystems
Nous Infosystems is a CMMI Level 5 v1.1, ISO 9001:2008, ISO 27001:2005 certified global Information Technology firm providing software solutions across a broad spectrum of industries and domains. Nous offers a comprehensive range of software and IT solutions, including applications for banking, financial services and insurance (BFSI), healthcare and retail customers. Major offerings include application development and maintenance, business intelligence, infrastructure management services, enterprise application integration, product re-engineering and independent testing. For more information visit the company's website.