Business Intelligence

Craig Robinson
Reinsurance Sales Engineer
StoneRiver

2012 was certainly a big year for catastrophes, suffering through hurricanes Sandy and Isaac, as well as several thunderstorms, fires, earthquakes, tropical storms, and droughts. These worldwide catastrophes caused lots of loss activity and economic destruction. Any time there is a long duration for any particular catastrophe, it is difficult to figure out what to report to reinsurers. In many reinsurance arrangements there is an hours clause that can have great bearing on the loss amount that can be invoiced to a reinsurer for recovery.

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Julie Kramer, Financial & Compliance Product Director

1. Make sure to keep up to date with the NAIC blank changes that could affect the way you report your data.
2. Review the documentation provided with each release.  Details in the documentation may include things like: new software enhancements, updates to formulas and regulatory changes. Be sure to share these documents with others on your team!
3. Create import files from your source data (Excel, GL, Investments, Reinsurance, etc).

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Felicia Maresh
P&C Claims Expert
StoneRiver

The concept of multitasking appears to have originated in the computer industry and refers to the ability of a computer to process several tasks simultaneously. As we move through daily life, we are asking our human brains more and more often to function in a similar method. Today I sit at my desk, working on this blog, monitoring email, answering IM and telephone calls, all the while knowing that the minutes are clicking down toward a large project planning meeting.

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Rodney Griffin
SVP Product Management
StoneRiver

In Part 1, I mentioned some of the new materials and components that are leading to new injury and severity profiles. Research shows some interesting trends for hybrid and electric vehicles. How do these changes affect auto insurers? What can they do to address what lies ahead?

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Rodney Griffin
SVP Product Management
StoneRiver

For some time it’s become increasingly clear that new trends will affect rating, classification and underwriting for auto insurers. Spotting and responding quickly to these trends will help auto insurers stay profitable and competitive. By using new data sources, insurers can take advantage of Business Intelligence feedback loops so they can proactively update policies, programs, practices, rules and rates.

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Frank Heaps
Director, P&C Product Marketing
StoneRiver

Remember all of the hype about the Internet back in the 1990’s: insurance carriers were all going to be virtual, agents were a dying breed, no more branches, etc. That was a far reach but we suddenly had a new way to interact with customers to conduct business. Our industry just had to figure out how that would work.

When the Internet first became a reality, it was uncharted territory. Technology was being developed just to be able to use this new communications tool. Browsers were raw, connections were slow, connectivity was unreliable, etc. There were no standards or guidelines for user interaction.

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Don Goodenow
Director, Product Management, Reinsurance & Collections
StoneRiver

Where we'll look at three more common system services: Workflow, Documents and Business Intelligence.

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