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Together with our partners we can enhance utilization of PTS and offer the following services:
 Agency-Company Interface
Dashboard Executive Summary
Advanced Data Warehousing
Reports from Data Cube Analysis
Hosting
Catastrophic Backup
Payment Processing
Print/Mail Fulfillment
Click Here for a Full List of IDMI Partners
Advanced Data Warehousing and Data Cube Analysis
(Click Here for More Info)
"I have been in the industry for over 30 years and this is the best analytical tool I have ever seen!"
- Michael P. Dorrance, CEO/Managing Partner CenCal Insurance Services, Inc.
- Calendar Year experience
- Accident Year experience
- Policy (U/W) Year experience
- Claims Management
- Loss Development analysis
- Marketing Campaign analysis
- Retention analysis
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Biz Pro advanced analytical services is a series of packaged business intelligence solutions to assist you in strategically analyzing the profitability of your product line. Each solution consists of aggregated historical premium and loss data that is transformed into a business view representation and provided to you in a user friendly desktop application to allow for efficient analysis.
Developed from the "end-user" perspective
The Biz Pro solutions have been designed and developed from the "end-user" perspective. Realizing that no analytical solution is 100% out of the box, additional customization is necessary to tailor fit to your product line and analytical requirements. Software training manuals are customized from your deliverables along with template analytical reports to ensure you experience a smooth transition to using business intelligence tools.
Business Intelligence Software
The business intelligence software currently available in "Biz Pro" services consists of "cubes". A more technical term for cubes is OLAP or On-Line-Analytical-Processing. OLAP is a proven technology used by many industries to facilitate the "ad-hoc" analysis of data. A cube consists of several "dimensions" that are organized in a hierarchy to fit your business view of the data. For example, "Territory" is a dimension that may be constructed in a hierarchy of "State>Region>Territory>City>Zip". A cube also contains "measures" which is numerical data that is summed, averaged or calculated.
In the example above, you can use a cube to drill down from State to Zip Code reviewing earned premiums, incurred losses, loss ratios, annualized frequency, severity and loss costs in a matter of seconds. Given that you also have other dimensions in the cube "dimension map", you can relate other data characteristics by filtering and/or nesting as you drill down the Territory dimension. For example, you may want to filter, layer or nest "Coverage" from the "Coverage>Limits/Ded" dimension for Auto or "Cause of Loss" from the "Cause of Loss>Sub Cause" dimension for Homeowner while reviewing your Territory experience.
Why Do I Need Biz Pro?
The most untapped asset in the insurance industry today is data. Underwriting companies and MGAs, regardless of size, are becoming more sophisticated in taking a quantitative approach to understanding what drives profitability and how to improve operational efficiencies. Data is knowledge and Biz Pro services help you bring your data to life. The "ad-hoc" analysis capabilities gives you control of your analysis. No longer do you have to go back to IT to request a report only to find out that the results in the report produces more questions. With Biz Pro, you don't have to wait in the IT queue to get the analytical information you need to make pressing business decisions today.
Example Cost Savings
For a 10 million dollar product line, if you can use Biz Pro services to assist you in your decision making to improve your combined ratio by one point, this would result in $100,000 of additional surplus.
Pricing and Analysis Cube
- Written Premium
- Earned Premium
- Incurred Losses
- Incurred Claims
- Loss Ratio
- Frequency
- Severity
- Loss Cost
Biz Pro Retention Analysis Cube
- New
- Renewal
- Cancelled
- Endorsed
- Reinstated
Biz Pro Claims Analysis Cube
- Indemnity
- ALAE
- Open Claims
- Closed Claims
- Average Paid Severity
- Average Reserve
Biz Pro Market Intelligence Cube
- In-force Premium
- Change in In-force Premium
- Change in Average Premium
- Market Share %
- Available Market
Our focus is on providing solutions that will satisfy a majority of your immediate analytical needs without having to incur the time and cost of a wide scale enterprise implementation effort.
We have created decision support applications to support the information needs of Accounting, Actuarial, Claims, Marketing, Product Management and Underwriting.
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PTS Online Demo
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PTS Info Sheets
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PTS Screenshots
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LIVE Demo of PTS
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More Reviews >>
"As a new company, it was essential that we bring up a system that would give our agents the best possible impression and make their job, writing insurance with Homeowners, as easy as possible. It was also important that we get a product to market as soon as possible. IDMI delivered on both counts. Our web-based agent portal is a winner in the marketplace and we were up and running within 30 days after we received our charter."
-- Spence Tucker
President Homeowners of America Insurance Company
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"I attribute a large part of my company’s success to the PTS system."
"PTS has been a critical component in the success of our company. IDMI’s rapid development and implementation of the PTS system was an integral part of the earlier than scheduled profitability of Endeavor. Still to this day, others find it hard to believe we were rating, writing and issuing policies on our new system in less than 3 months."
"…IDMI’s real strength is you have always exceeded my expectations. This has developed into a strong partnership…"
"I am continually gratified with my choice to enter into a relationship with IDMI and the use of the PTS system."
-- John McKinney
President Endeavor General Agency
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"PTS is used by our insurance carrier Delta Lloyds Insurance Company. Since implementing, this WEB based policy tracking and issuance system, agents can rate and request binding and check status of billing, all at their convenience 24/7. This system includes work flow so that the entire process is very fluid and easy to monitor. Policy issuance that typically took 2 weeks is now handled and processed next day when direct bills are mailed."
-- Bill Fink
President of Delta General Agency Corporation and Delta Lloyds Insurance Company
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