In the current world, much time and money is spent on implementing and fine tuning data input systems, very little is spent on data coming back out in a useable form for business decisions to be made. Insurance companies will often be reliant on a small, select group of data analysts, often using complex tools such as SAS. ICE Track changes that.
Based on our ICE Track product, we have developed a series of key components, based around the Microsoft BI tools to enable a corporate wide view of the insurance data.
As specialists in the General Insurance field, we are familiar with many of the leading Insurer and Broker packages and have previously integrated our extract tools with these products to enable us to pull the data from the operational system non-intrusively.
Through our configurable transformation stage and pre-defined aggregations, we are able to de-normalise the data and optimise it for reporting. This data is then loaded into ICE Cube.
ICE Cube provides a complete General Insurance template that can be extended for any Insurer/Broker. It is a Fact and Dimensional (often called a Star Schema) model based on the Kimball Group principles. This can be used as a central data warehouse for straight forward reporting or provides the perfect platform to be turned into a full OLAP cube using the Microsoft BI suite.
We believe that the cost effectiveness of the Microsoft tools, many supplied as part of the SQL Server, enables organisations to roll out a corporate wide business decision support system very quickly with varying degrees of complexity for the varying requirements of different users. ICE Track is live, using a powerful combination of the IT-Freedom and Microsoft technologies including Analysis Services on ICE Cube with Reporting Services and Pro Clarity presenting data to the end user through SharePoint.
ICE Track also provides the perfect platform for insurers to consolidate multiple operational systems and as a platform for their Solvency II reporting. We are already working with one of our clients to use this platform for Solvency reporting across four diverse lines of business.