INSURANCE

Timely data and reliable forecasts to drive growth & optimize renewals

Trusted by strategic finance teams at

Gauge risk and better price premiums

The digital economy is transforming the insurance industry. With the help of real-time analytics, insurers are tapping into their data daily to gauge risk and set premiums.

Integrate revenue planning & customer acquisition systems

Plan and forecast efficiently using revenue drivers like total revenue per policyholder, number of policies in force, and retention rates with Prophix One. With real-time analytics, you can maintain your premium volumes, track agent revenue performance, or spot high performers. Measure and monitor your KPIs, including premiums earned per agent, policy sales growth, or new policies signed per sales channel.

View operational performance on-demand

With self-service dashboards from Prophix One, your data is always available in real time. Corporate finance, head office, and branch managers can create a dashboard to view company performance and identify ways to improve policy administration and case management.

Model what-if scenarios

With what-if scenario planning, you can change your assumptions to see the impact on your profitability and determine when to adjust your budgets and forecasts. Vary premium rates to determine the impact on your revenue or revise the case manager workload to see the impact on processing costs per claim.

Track commission payouts against revenue performance

Proactively monitor your analytics and reports to spot anomalies with Prophix One. You can quickly identify variances, perform period-over-period analysis, or drill down to the underlying details to answer questions like:

Do commission payouts coincide with revenues generated by each branch?
Are there any producers whose travel, meals, and entertainment costs exceed budget variance thresholds?
How are premium revenues performing across branches, product families, or premium types?

Improve decision-making

Prophix One, a Financial Performance Platform, easily integrates with your financial and insurance-specific solutions, giving you a consolidated, real-time view of your data. Proactively search for insights and make data-driven decisions to adjust premium rates and reduce payouts to reach your maximum profit potential.