Data Conversion and Consolidation Services

When you have essential data at your fingertips, you can make the right decisions about where to invest. Consolidated, easy to analyze data makes the job of your actuaries and underwriters more effective and efficient in determining market risk.  By utilizing risk management information systems (RMIS) that aggregate data from source systems (for example, the insurer’s claims, policy and ratings systems), you are delivering the kind of analytics that help insurers develop a more accurate forecast of risk for new product lines under consideration.
 
Most insurers possess an infrastructure with more than enough capacity to develop new products and take them to market. Yet, in creating new products and go-to-market strategies, the data available in most insurers’ main data warehouses are not up to the task of determining which segments of a specific market represent the best opportunity for profitable revenue growth.
 
By effectively using a RMIS, however, insurers go beyond reliance on data from a single system (that is, the main data warehouse). Use of a RMIS enables you to go drill down to the source system (the claims, policy and ratings systems) and define and redefine data-parameters at the most granular of levels. You can more effectively analyze existing risk (including loss ratios), compare it to industry standards and determine if there is a need for a new product and how to package it for profitable revenue growth.

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Please contact us or request additional materials about Aon eSolutions' solutions for the insurance market.