Oracle Insurance Performance Insight (OIPI) is a comprehensive business intelligence system created exclusively for the General Insurance/Property and Casualty (P&C) insurance industry. OIPI provides a complete set of web-based analytical and reporting components that enable users to generate, view, analyze, distribute, electronically store, and retrieve critical reports.
It provides tools for data integration and includes customizable, pre-built dashboards and reports, a reporting data model, and user-friendly functional subject areas for ad-hoc reporting.
It enables you to actively plan, manage, and track key areas measuring organizational performance with pre-built reports, dashboards, and underlying data structures.
The OIPI solution is built using:
· OFSAA Infrastructure for ETL and Data Integration
· OBIEE for Dashboard and Reports activities
OIPI provides the following capabilities:
· Consolidates data from multiple, disparate source systems to provide a strategic enterprise-wide view across various business and operational segments.
· Provides an underlying data model constructed specifically for the general insurance industry.
· Delivers information management, reporting, and advanced analytics to end-users through an easy-to-use web application.
OIPI utilizes OBIEE technology to present:
· Behavioral and performance trends of its target segments - Lines of businesses, Products, Regions, Intermediaries, Customers, Revenues, Expenses, Claims, and so on.
· Performance tracking using key business performance indicators.
· Performance of the overall business, profitability, intermediaries, and underlying customers.
· Performance of Business against goal/budget and plans.
· The efficiency of the intermediaries and business lines in terms of new business revenue and business retention. Most and least active and revenue-generating intermediaries and sales channels.
Topics:
· Workflow
The following workflow depicts the analytical product objectives of OIPI 8.1.1.0.0:
Figure 1: Work Flow of OIPI
Following are the users of OIPI:
· ExecutiveManager: This user performs the roles of management-level executives and group heads and has full access to all dashboards and reports. The primary interest is in corporate performance at an enterprise level.
· BusinessAnalyst: This user performs the various roles of senior-level executives and managers who would do business analysis and strategy development. The primary interest encompasses all areas.
· UnderwritingManager: Under this role, the user heads the underwriting departments and group managers. The primary interest is in the policy performance area.
· ClaimsManager: Under this role, users heads the claims departments and group managers. The primary interest is in the claim performance area, claim performance parameters, expenses, and key ratios.
· FinancialManager: Under this role, users heads the finance and accounts departments, and group managers. The primary interest is in financial performance, key financial performance indicators, key ratios, revenue, expenses, and profitability.
· Underwriters: This user performs the various roles of underwriting managers and underwriters. The primary interest is in policy performance and claim performance, key performance indicators, and information.
· UnderwritingSupport: This user performs the various roles of executives and authorized members of the underwriting department. The primary interest is in specific policy and claim performances.
· ProductManager: This user performs the roles of executive and authorized members of actuarial, product, and product strategy groups.
· ClaimsAdjuster: This user performs the roles of claim adjusters and authorized members for the claim adjustment process. The primary interest is in claim performance.
· FinanceDepartment: This user performs the roles of executive and authorized members of the finance and accounts department. The primary interest is financial performance, revenue, and expenses.
· MarketingDepartment: This user performs the various roles of executive and authorized members of the marketing department. The primary interest key performance parameters and performance results in quotes, policy, claims, regions, lines of business, products, producers, and customers.
· Producers: This user performs the various roles of managers and executives of sales departments, agency managers, authorized producers, and the company's direct sales employee. Access for producers and direct sales employees are company-specific and restricted to own respective line performance. The primary interest in policy sales, retentions, revenue, expenses, key performance, and customers.