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Farm Bureau Insurance Improves Profitability With Better Business Intelligence
技术
- 分析与建模 - 实时分析
- 分析与建模 - 预测分析
适用功能
- 商业运营
用例
- 预测性维护
- 实时定位系统 (RTLS)
服务
- 数据科学服务
挑战
Farm Bureau Insurance, a leading insurer in Tennessee, was faced with a significant challenge in 2011 when two devastating storms resulted in a year's worth of claims in just two months. The company's existing reporting processes were cumbersome and could not provide the real-time data, drill-down functionality, and ad hoc capabilities that managers required to effectively handle the situation. The company needed better access to data and improved reporting capabilities for a clearer view into its operational performance and financial metrics. The turmoil from these unexpected events became the driving force for Farm Bureau Insurance to gain a clearer view into its operational performance and financial metrics.
关于客户
Farm Bureau Insurance is offered through the Tennessee Farmers Insurance Companies, a group of affiliated companies working together to provide insurance services to Tennesseans. It covers more homes and autos than any other insurer in Tennessee, and is the state’s second-largest writer of individual life policies. In April and May of 2011, two devastating storms left the company reeling as its personnel struggled under the deluge of a year’s worth of claims in just two months. Hampered by limited time and resources, financial managers scrambled to line up re-insurers while claims processors, already swamped with active claims from the April storm, saw claims from the May event come pouring in.
解决方案
Farm Bureau Insurance turned to WebFOCUS to replace an existing Crystal Reports framework with new reports and dashboards for on-demand reporting. The company rolled out new business intelligence (BI) capabilities throughout the company with advanced dashboards and reports for corporate management, claims statistics, claims audit, storm event notification, risk management, re-insurance, sales, project management, call center log, and others. The company also used WebFOCUS risk management dashboard that provides powerful analytics and easy-to-create reports based on a variety of criteria. The company also plans to use the WebFOCUS Web Services Adapter to pull in GPS data, weather data, maps, and other information that will help the company track and manage claims.
运营影响
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