Thazar Solutions Unveils INSsight BI Suite

Thazar Solutions announced the availability of its innovative new INSsight Business Intelligence Suite, the property and casualty insurance industry's first low-cost, low-risk integrated business intelligence environment.

INSsight enables insurers to effectively monitor and analyze core business operations, such as underwriting, marketing and claims, to make timely, informed business decisions. The announcement was made at the IASA Annual Educational Conference and Business Show in San Antonio, Texas.

Since 1996, Thazar Solutions has helped P&C insurers effectively manage and analyze their vital business information. INSsight is the culmination of Thazar's extensive experience in building data warehouses for this industry. INSsight provides effective executive decision support capabilities in less time, at less cost, with less risk and with fewer skilled resources than data warehouse projects. To develop INSsight, Thazar identified a limited number of data elements that are most essential to monitoring core insurance operations. Thazar then developed a streamlined approach to extracting and managing those data elements and added a suite of powerful analytic applications that enable insurance executives and managers to turn that data into useful information on which critical business decisions can be based.

Critical Need In The Marketplace

"Insurers are data rich but information poor, and they recognize the need for more effective information technology that can help them interpret the vast amount of data that flows through their current transaction processing systems. INSsight will enable insurers to make informed, fact-based decisions regarding their core operations. Those decisions will enable them to create efficiencies, reduce expenses, and to gain competitive advantage by selecting and profitably pricing the risks they accept to meet their expectations for return on investment," said Thomas R. Chesbrough, CPCU, founder and executive vice president of Thazar Solutions.

"We have previewed INSsight with executives of a number of leading insurance companies. Nearly everyone who has seen INSsight has indicated that there is a pressing need in the marketplace for this type of product and the benefits it provides," Chesbrough added.

Innovative Approach To Business Intelligence

INSsight's powerful, integrated architecture enables common functionality and features that make INSsight easy to learn, easy to use, and easy to integrate with new applications developed by Thazar and other insurance industry analytic vendors. INSsight's intuitive user interface is a personalized "executive dashboard" that provides instant access to the user's personally selected key performance indicators, summary data, alerts and tools. INSsight's advanced analytic applications include built-in insurance metrics, proven decision theory and statistical testing. The applications guide users through the analysis process, answer questions about specific business functions and enable users to view information and analyses from a variety of angles and depths.

Each INSsight application targets one or more of an insurers' common pain points. In today's announcement, Thazar has launched applications that monitor and analyze retention trends, underwriting excellence, and discrete changes in a company's book of business. It has also launched an application that enables insurers to analyze their business in an unrestricted way by intuitively pointing and clicking their way through selections of common industry terms and metrics to help them identify trends and relationships. Future applications will address claim excellence, reserving, ratemaking, and catastrophe modeling; others will utilize imbedded algorithms to predict the likelihood of key indicators as profitability, renewals or lapses, fraud and losses.

Affordable Pricing And Rapid Deployment

INSsight is licensed on a subscription basis and can be installed on-site or hosted by Thazar. It can be deployed in about 120 days rather than the one to three years typically required for a data warehouse. Accelerated Web-based deployment reduces the time, cost and risk traditionally associated with business intelligence projects and speeds up the realization of benefits from the use of the system.

Thazar is preparing to announce the first of several pre-built interfaces to leading policy and claim management systems and outsource processing system vendors to reduce implementation timeframes. Thazar is also poised to pre-build additional interfaces to leading systems as the opportunity arises.

About Thazar Solutions Corporation

Thazar Solutions Corporation is a leading provider of business intelligence solutions and analytic applications for the property and casualty insurance industry. Founded in 1996, the company is privately held and headquartered in Kansas City, Mo. For more information, visit www.THAZAR.com.

Contact Thazar Solutions Corporation, Allison Stein, 888-527-7866, marketing@Thazar.com.