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Business Intelligence In the Cloud: ProSight Selects iPartners' BI Solution

ProSight Specialty Insurance will use iPartners' Business Intelligence & Data Warehouse Solution to provide enhanced business analytics and data management, common tools across the enterprise, and quick value through SaaS delivery.

With businesses are expected to spend some $120 billion on big data-related investments this year, according to Gartner, a growing number of companies are looking to the cloud as a way to help manage the costs involved in implementing a big data strategy. A new deal involving ProSight Specialty Insurance and SaaS business intelligence and data warehousing solutions provider iPartners illustrates that the insurance industry is likely to play a big role in this trend. To support its strategic growth and expansion plans, ProSight has selected iPartners' business intelligence and data warehouse solution. iPartners will provide a data warehouse that consolidates data from multiple ProSight sources, combined with business intelligence and analytics capabilities.

[What Big Data Means For Infrastructure Costs]

According to the companies, key to the deal was iPartners' cloud delivery, which facilitates accessibility for ProSight offices and business units around the world. Anticipated benefits from the selection and deployment of the iPartners business intelligence and data warehousing solution include consolidated data, improved data management, business analytics and decision making, consistent report development process with improved definitions and automated calculations, and common tools for all business units and offices. It is a SaaS solution designed specifically for the P&C industry and is built around an insurance-specific data model.

ProSight sought a proven solution characterized by quick implementation, intuitive use, high flexibility, and self-service reporting capabilities," said Mark Popolano, ProSight's Global CIO, in a press release. "The efficiency of SaaS delivery coupled with the system's P&C-specific content and packaging influenced our decision greatly."

Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio

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KBurger
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KBurger,
User Rank: Author
8/28/2013 | 7:52:18 PM
re: Business Intelligence In the Cloud: ProSight Selects iPartners' BI Solution
That's true but I think also this approach is a way to jump start an analytics, data warehousing or big data initiative -- get it up and running & getting results much more quickly. ProSight probably wouldn't call this outsourcing per se but they must be aiming for benefits similar to those other financial insitutions get when they outsource to facilitate entry into a new market (geographic or product).
Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
8/27/2013 | 8:38:47 PM
re: Business Intelligence In the Cloud: ProSight Selects iPartners' BI Solution
The cost of big data projects and the lack of data and analytics talent make it a prime example of a technological need that many organizations would want to outsource.
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