iPartner Data Management Scorecard Application Released

Atlanta-based iPartners has announced the release of iPartners Insurance Scorecard to help managers in mid-sized property casualty insurance companies to view and analyze all of the data they need to maximize profitability. The hosted Internet application is currently up and running at ten property casualty companies, according to iPartners president Robert Lasher.

Lasher said the Scorecard automatically loads data from policy and claims systems, stores that data securely, and presents it graphically, incorporating more than 40 key performance indicators of immediate past performance and trends over time, and more than 100 ways of displaying that information.

“Without the Scorecard, someone has to gather up the data by running a number of queries against different databases, and then use the results of those queries to build spreadsheets,” Lasher said. “The process usually takes weeks – time that could be spent more profitably on analyzing the business, spotting trends, and taking corrective actions. But when spreadsheets are the primary management tool, all that the decision-maker has are individual pictures of parts of the business at a moment in time.”

In contrast, he explains, the Scorecard provides a comprehensive picture of the entire business, both in summary and in detail. It facilitates analysis, so managers can identify trends, spot problems before they become serious, and spend their time on corrective actions rather than on the tedious tasks that comprise information management.

Because the Scorecard is an Internet application, clients can become operational much sooner than they could if they chose to develop comparable capabilities in-house. The Scorecard also eliminates the cost of in-house hosting and system maintenance.

“The Scorecard is a proven solution developed by people with years of property casualty management experience,” Lasher said. “The metrics, analysis and measurement framework specific to property casualty insurance is in-place today. Effective financial and operational management is more important in the property casualty industry today than ever before,” Lasher concludes. “Firms absolutely must have the quantity and quality of information that the iPartners Scorecard provides.”

Additional information, including screen images of iControl and the iPartners Insurance Scorecard, is available from iPartners at (888) 618-8360 ext 200 or www.iPartners.net.

Topics Property Casualty