The Enterprise system has been re-designed with modular data warehouse architecture. The modules represent areas of business analytics (e.g. Policy Studies, Incurred Claim analysis, Earnings analysis, Agents, etc…). The Enterprise system can be implemented as a whole or as a modular system with only certain modules.
A new front end tool for users to manage data loads has been introduced. This menu-driven interface enables a user to view load status, change load configuration settings, execute and monitor jobs, and view job history logs including error reporting.
The look and feel of the user cube interface and reports can now be customized to business requirements with ease using our customized PowerShell scripts designed for SSAS OLAP objects. This process allows hiding and renaming of cube pivot objects of dimensions, attributes, measures and measures groups. Translations of objects of up to 3 languages are available.
Incurred Claim Development
For Property/Casualty, Group and Health insurance analysis, a new application to calculate IBNR runoff with the Chain-Ladder Method for loss reserving. Run-off triangles are dynamically selected with date range and triangle size. A number of calculations are available including claim payments, accumulated, and outstanding claims and loss development factors.
Experience Study Benchmark
For the Experience Studies, the introduction of Pool dimensions to benchmark groups with certain common policy attributes is made available. Comparative analysis such as A/E ratios between the benchmark set against its sub-population can now be performed seamlessly in the cube reporting layer.
Expected Rates Functionality
The expected rates functionality for all studies has been redesigned to give users flexibility and control for defining and managing rate tables.
- Product groupings allow users to defined set of rates for different types of products and can be redefined dynamically over time.
- Risk classes can be specified for any number of variables, not just the industry standard variables such as gender, smoker, occupation class or waiting period.
- Claim rate tables can be specified using monthly or annual rates or both with monthly for an initial number of years and annually thereafter to accommodate new industry standard tables.
Expected rate tables can be easily added, changed or removed with minimum of processing required.