SNL iPartners’ unique Property & Casualty insurance data model to provide powerful analytics in tandem with Accenture Duck Creek core software.
SNL iPartners, a division of S&P Capital IQ and SNL providing on-demand business intelligence to property and casualty (P&C) insurers, announced today a new alliance with Accenture Duck Creek, one of the leading providers of billing, claims, policy and rating software and services. This collaboration combines two recognized technologies to deliver an enterprise-wide business management solution that helps carriers derive actionable insight from their billing, claims and policy data.
SNL iPartners’ P&C data model will be mapped directly to Accenture Duck Creek’s core software, and any internal or external data source, to provide instant visibility into operational metrics. This solution delivers a dynamic view of a carrier’s customers, agents, demographics and competitors in one complete business management platform.
Accenture Duck Creek customers can leverage this solution to pursue and implement their legacy data migration strategies and business intelligence projects. “We are glad to have this opportunity to partner with an industry innovator that shares our commitment to delivering technologies customers can use to improve their competitive position through actionable data,” said Patti Griffin, global product lead, Accenture Duck Creek.
“We are thrilled to be working with Accenture Duck Creek to offer the P&C insurance market an innovative solution that will empower our clients to manage and monitor all aspects of their business,” says Tom DiMarco, Director of Software Solutions for SNL iPartners. “By monitoring daily progress against key performance goals, company leaders will have access to the information needed to make critical business decisions around risk management, growth, and profitability.”
SNL iPartners now offers an on-premise deployment of its business intelligence (BI) and data warehousing solution. Leveraging more than 10 years of success of the cloud deployment of the solution, SNL iPartners is now making it available to those insurers preferring implementation behind their firewall.
The on-premise offering is a managed service with SNL iPartners providing remote support. The on-premise solution was built using the identical platform as is deployed in the cloud. All the SNL iPartners software and services included in the P&C cloud solution are built into the new on-premise option. The proven delivery model remains the same with a one-time set up fee plus a monthly subscription fee.
With an on-premise implementation of SNL iPartners’ business intelligence (BI) and data warehousing solution, insurers gain the benefit of the maturity of the SNL iPartners’ data model, reports and tools; which have been supporting P&C insurers in production environments for over a decade. Today, the model supports 95 lines of business including commercial and personal lines, workers’ compensation, and a wide range of specialty lines.
Nick Bhatt, CIO with Companion Property & Casualty Group, commented on SNL iPartners’ new offering, saying, “Keeping the data behind the firewall may be a corporate requirement for some insurers, making the on-premise option with SNL iPartners ideal in those situations. The added benefit of the on-premise option is that insurers have access to the SNL iPartners data model on-site, giving them the flexibility to use a broad set of query tools they have available to compliment other data needs they may have.”
Included in SNL iPartners’ managed service for the on-premise solution:
SNL iPartners Senior Director Robert Lasher, noted, “SNL Financial has a strong track record delivering an on-premise option with its SNL Banker solution. SNL Banker has been implemented in over 50 banks utilizing the same technology SNL iPartners has deployed in the cloud. It was a logical next step for SNL iPartners to leverage this successful delivery approach. We are now able to deliver the identical solution and support services we have been offering in the cloud to those insurers preferring to maintain their data on-site.”Lasher continued, “Combining our long track record of success and deep knowledge of the P&C industry, with a hosted service delivered in the cloud or on-premise offers what we believe to be a first of its kind offering in the insurance industry.”
In January 2014, SNL Insurance announced the acquisition of iPartners, a Saas-based provider of business intelligence solutions to the insurance industry. The acquisition brings together SNL’s broad external market data offerings for insurance with iPartners’ internal business intelligence and reporting capabilities. The two companies bring considerable strengths to the combination, including insurance expertise, relationships, data, and technology platforms. The new group will be known as SNL iPartners.
“Very few acquisitions have such a clear and compelling value proposition for insurers. the potential for insurers to get a comprehensive view of both internal and external data provides new opportunities to gain operational insights and to benefit from peer analysis.” - Mark Breading, SMA Partner
SNL iPartners has once again earned a Novarica ACE Silver ranking. This is the fifth ACE Ranking for SNL iPartners and continues Insurance Scorecard’s strong showing with an impressive overall ranking of 90 out of a possible 100.
The new report, Novarica ACE Silver Ranking: iPartners Insurance Scorecard (2014 Q1), is based on an online survey of five senior technology and operational executives at five insurer clients who have direct experience with SNL iPartners’ product and organization. Novarica ACE Rankings are produced independently and are not sponsored by vendors.
In addition to the overall 90 ranking, SNL iPartners’ Insurance Scorecard ranked well in all categories - Staff, Organization, Technology, Overall Customer Satisfaction, and Functionality. Client comments highlighted in the report praise SNL iPartners’ extremely knowledgeable and friendly staff, excellent system training and industry specific knowledge, responsiveness, and understanding of its clients’ data and KPIs. Clients awarded SNL iPartners a perfect score of 100 for:
SNL iPartners Senior Director Robert Lasher added, “We are very proud to have earned yet another ACE Ranking and thank our clients for their participation. Given that the scores are based solely on feedback from our clients, we are especially pleased with these most recent results as well as the consistent high marks year after year. The feedback is invaluable to us as we plan the future direction of not just our product, but our organization as well.”
The Users Conference provided end users from over 15 Property & Casualty client companies with a platform to share ideas and their experiences with iPartners’ data warehousing and business intelligence solution.
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ProSight Specialty Insurance will use iPartners’ Business Intelligence & Data Warehouse Solution to provide enhanced business analytics and data management, common tools across the enterprise, and quick value through SaaS delivery.
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This partnership combines iPartners’ and SpatialKey’s complementary expertise and technologies to help P&C insurers quickly access and analyze their data, and accelerate risk decisions.
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iPartners announces that it has again been named as a ‘Leading Vendor’ by Celent in the recently published Insurance Deal Trends 2013 report. This is the fifth consecutive year iPartners has been recognized for its ‘leading’ status based on deal flow with insurance carriers for iPartners’ business intelligence and data warehousing solution.
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