Case Studies Acturis Enhances Insurance Efficiency with MicroStrategy Business Intelligence Platform

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	Acturis Enhances Insurance Efficiency with MicroStrategy Business Intelligence Platform

Acturis Enhances Insurance Efficiency with MicroStrategy Business Intelligence Platform

Technology Category	Analytics & Modeling - Predictive Analytics Analytics & Modeling - Real Time Analytics Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation Sales & Marketing
Services	Software Design & Engineering Services System Integration Training
Challenge	The general insurance industry is highly attractive due to its large market size and potential for significant profits through efficient and innovative underwriting and distribution. However, the industry faces significant challenges due to inefficiencies such as multiple hand-offs, duplication, manual processes, errors, rework, and incompatible systems. These inefficiencies result in overheads absorbing 34% of all premiums, meaning more than one-third of a commercial customer’s premium is consumed in cost rather than risk transfer. This leads to low or no profitability and poor customer service. The industry players need to improve service levels and reduce costs to avoid being replaced by alternatives, as these inefficiencies are too significant for customers to ignore. Read More
About Customer	Acturis is a leading provider of technology solutions for the insurance industry, working with brokers and insurers to enhance efficiency, improve customer service, and drive profitability. The company offers the Acturis Broker Platform, which provides a new and innovative way of transacting insurance, reducing duplication of work, lowering error rates, and driving costs out of the broker distribution channel. Acturis also leverages the MicroStrategy Business Intelligence Platform to anchor its reporting and management information system, the Acturis Report Center, enabling effective business performance measurement and improved productivity for brokers and insurers. Read More
Solution	The Acturis Broker Platform is an innovative broker trading system that significantly enhances broker efficiency, service, and broker-insurer interaction. It is supplemented by various innovative products and services aimed at increasing brokers’ revenue and providing growth opportunities. Acturis uses MicroStrategy to anchor its reporting and management information system, the Acturis Report Center, which allows brokers, insurers, and their technology partners to improve productivity and efficiency by enabling effective business performance measurement. The search for a suitable business intelligence platform led Acturis to choose MicroStrategy for its 'zero footprint' client, enterprise-class capabilities, ease of integration, robustness, scalability, and power combined with ease of use. The integration was fast and trouble-free, with Acturis' technical team carrying out most of the work using the MicroStrategy SDK and other tools, with validation and detailed help from MicroStrategy consultants. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Predictive Analytics

Analytics & Modeling - Real Time Analytics

Functional Applications - Enterprise Resource Planning Systems (ERP)

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Sales & Marketing

Services

Software Design & Engineering Services

System Integration

Training

Challenge

The general insurance industry is highly attractive due to its large market size and potential for significant profits through efficient and innovative underwriting and distribution. However, the industry faces significant challenges due to inefficiencies such as multiple hand-offs, duplication, manual processes, errors, rework, and incompatible systems. These inefficiencies result in overheads absorbing 34% of all premiums, meaning more than one-third of a commercial customer’s premium is consumed in cost rather than risk transfer. This leads to low or no profitability and poor customer service. The industry players need to improve service levels and reduce costs to avoid being replaced by alternatives, as these inefficiencies are too significant for customers to ignore.

About Customer

Acturis is a leading provider of technology solutions for the insurance industry, working with brokers and insurers to enhance efficiency, improve customer service, and drive profitability. The company offers the Acturis Broker Platform, which provides a new and innovative way of transacting insurance, reducing duplication of work, lowering error rates, and driving costs out of the broker distribution channel. Acturis also leverages the MicroStrategy Business Intelligence Platform to anchor its reporting and management information system, the Acturis Report Center, enabling effective business performance measurement and improved productivity for brokers and insurers.

Solution

The Acturis Broker Platform is an innovative broker trading system that significantly enhances broker efficiency, service, and broker-insurer interaction. It is supplemented by various innovative products and services aimed at increasing brokers’ revenue and providing growth opportunities. Acturis uses MicroStrategy to anchor its reporting and management information system, the Acturis Report Center, which allows brokers, insurers, and their technology partners to improve productivity and efficiency by enabling effective business performance measurement. The search for a suitable business intelligence platform led Acturis to choose MicroStrategy for its 'zero footprint' client, enterprise-class capabilities, ease of integration, robustness, scalability, and power combined with ease of use. The integration was fast and trouble-free, with Acturis' technical team carrying out most of the work using the MicroStrategy SDK and other tools, with validation and detailed help from MicroStrategy consultants.

Impact #1	The Acturis Broker Platform has significantly improved broker efficiency, service, and broker-insurer interaction.
Impact #2	The Acturis Report Center enables brokers and insurers to improve productivity and efficiency by providing effective business performance measurement.
Impact #3	The MicroStrategy platform's power and scalability, combined with its open software development kit, allowed for seamless integration into the Acturis platform.

Impact #1

The Acturis Broker Platform has significantly improved broker efficiency, service, and broker-insurer interaction.

Impact #2

The Acturis Report Center enables brokers and insurers to improve productivity and efficiency by providing effective business performance measurement.

Impact #3

The MicroStrategy platform's power and scalability, combined with its open software development kit, allowed for seamless integration into the Acturis platform.

Benefit #1	Overheads absorbing 34% of all premiums have been significantly reduced.
Benefit #2	The integration of the MicroStrategy platform was completed within a remarkably tight deadline.

Benefit #1

Overheads absorbing 34% of all premiums have been significantly reduced.

Benefit #2

The integration of the MicroStrategy platform was completed within a remarkably tight deadline.

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Overview

Acturis Enhances Insurance Efficiency with MicroStrategy Business Intelligence Platform

Operational Impact

Quantitative Benefit