QueBIT recognizes that Insurance companies each have unique business issues and challenges in regard to Financial Performance Management. Our company has extensive experience in solving business issues specific to the Insurance industry.
To create efficient and effective forecasts, the Insurance Industry must consider alignment of the Financial and Actuarial Planning processes. However, alignment of these two processes is complex and challenging. Premiums Planning on a calendar year basis is relatively simple in experienced hands. The challenge is determining how these premiums will earn not only across underwriting years, but calendar years as well. Calculation of adjusted Loss Ratios using actuarial mathematical modeling will be required.
Few Planning Software Solutions inherently enable this level of sophistication. The end result is typically large variances between actual and plan that are difficult to analyze and explain. IBM Cognos TM1 provides the platform to solve these business problems for Insurance Companies.
QueBIT, an IBM Premier Partner, has extensive experience and expertise in both TM1 and the Insurance Industry, compiling significant successes with Insurance Companies to solve these complex challenges and move their Business Analytics to the next level. QueBIT has demonstrated expertise that ensures the design, development and implementation of a successful solution for your Insurance industry Business Analytics needs.
QueBIT has worked extensively with the Insurance industry, implementing solutions that address industry-specific such as:
- Calendar-Year Premiums Planning
- Underwriting-Years Premiums Planning
- Adjusted Loss Ratios Modeling
- Risk Management
- Profitability Management
- Written & Earned Premiums
- Expense Planning & Forecasting
- Labor Costs Planning & Forecasting
Critical Modeling Strategies for Insurance Companies (as Seen in IBM Data Management Magazine)
- NY Life