Video
Introducing Ivans Insights
Watch this video to discover how this powerful tool will transform the search process for new agencies – making it easier and more automated.
Watch NowIn the fast-paced evolution of insurance technology, many insurance carriers still depend on multiple data sources and spend a significant amount of time and money analyzing information to get a clear picture of their operations. Agency books of business, premium and rate changes, and business details for risk profiles are often scattered or too narrow in focus. With business intelligence, you can tap into valuable data beyond your organization, helping you better understand your business and make more profitable, data-driven decisions.
When you start with insurance data you can’t find anywhere else and have the ability to filter and sort it, you get actionable insights that set you apart from the competition.
Why Insights Matter to Your Business
Make informed distribution decisions
When you choose agency partners, you often have to guess what type of business they’re writing. Feedback from the agency can help, but it’s not always accurate. Using quantitative insights into an agency’s business gives you the reliable data you need to grow your share of their business and reduce turnover.
Empower your field team
Field marketers no longer have to guess which agents to visit. And if you're a new insurance carrier without enough field staff, detailed insights into your agency base can help you justify the resources needed as you grow.
Educate your product leaders
With insurance analytics and industry benchmarks to guide you, your product team can focus on areas that drive growth. AI-powered solutions use predictive models to remove the guesswork from detailing risk profiles.
Build stronger partnerships
Expanding into a new region or product line or growing your business in existing territories can be tough when you rely only on internal reports. By accessing verified data from outside sources, you can quickly identify risks matching your product goals. This helps you become a preferred carrier partner and makes it easier to do business.
Why Insights Matter to Your Business
Our personal lines teams save substantial time and resources using Industry Insights. They don't waste time on agencies that aren’t a good fit.
Integrating data into what we call other models, like historical data, is still challenging. There are so many changes and discrepancies, and things like data formats or sources can lead to inefficiencies.
The biggest problems for most carriers are data quality and data strategy. The quoting system is siloed, not in a data lake or warehouse, which is a huge problem.
When carriers figure out how to give the customer the right price at the time of sale or quote, that is going to be a game-changer for the industry.
Get Started With Tech That’s Right for You
Featured Resources
Blog
How Insurance Carriers Can Gain a Competitive Edge
The insurance industry is on the verge of transformation, and modernizing underwriting is just the tip of the iceberg. Are you ready to lead the way into a new era?
Read NowResources
Ivans Premium Renewal Rate Index
The Ivans Index™ is a data-driven report of current conditions and trends for premium renewal rate changes in the insurance industry's most placed commercial lines of business.
View NowFrequently Asked Questions
Business intelligence in insurance involves collecting, analyzing, and presenting data to help insurance companies make smarter decisions about policies, claims, and customer management.
Insurance carriers, MGAs, and agencies use business intelligence to analyze policies, claims, and customer behavior; track performance across products and markets; optimize pricing and underwriting; identify growth opportunities; and improve operational efficiency and customer satisfaction.
It improves decision-making, reduces operational costs, uncovers trends in claims and policies, increases pricing accuracy, and helps prevent losses.
Key elements include interactive dashboards, automated reports, predictive analytics, data visualization, integration with core insurance systems, and real-time monitoring of key metrics.
Yes. Underwriting analytics is highly valued because it helps insurers assess risk more accurately, set fair premiums, and improve profitability.
Yes. Artificial intelligence (AI) can quickly process large amounts of data, recognize patterns, generate predictive insights, and support better decision-making in claims, pricing, and customer management.
AI is used to forecast claims, detect fraudulent activity, automate risk scoring, personalize policies, and provide actionable insights from large, complex datasets.
Ready to Learn More?
Ivans is ready to provide your business the advanced insurance software and solutions to digitally distribute and service products in new ways.