The Insurance Reporting Foundation package, based on Information Builders' WebFocus reporting software, is the first in a series of industry-specific business-intelligence applications the company plans to introduce this year. Software for financial-services companies and state and local governments also is in the works.
Insurance Reporting Foundation targets property and casualty insurance companies, providing them with reporting capabilities that help them manage their business performance. The tool offers capabilities for risk and policy-rate management, claims reporting, regulatory compliance and governance, and underwriting profitability analysis. It includes an insurance-industry data model, a tool for data transformation and loading that updates the software's database, a set of report frameworks for the insurance industry, industry key performance metrics, and a dashboard user interface.
Information Builders says the system's capabilities are based on BearingPoint's expertise in the insurance industry and technology that Information Builders has developed in insurance-company engagements. The software will be available in June.