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Insurity Adds Capabilities, Simplifies Integration for its IEV Data Solution

Staff Writer | June 08, 2015

Insurity, a provider of core insurance processing and data integration and analysis solutions, announces enhancements to its Insurance Enterprise View (IEV) data solution, which include master and reference data capabilities, including a new Reference Data Store (RDS) and structured data integration (SDI) framework and other new integration tools

The addition of master and reference data capabilities, along with new integration tools, eliminates the need to develop code components to integrate IEV with any policy, billing, claims, reinsurance, MGA or TPA application.  The addition will enhance data quality and reporting capabilities across the insurance enterprise. 

The new integration tools expand options beyond IEV’s current ACORD XML capabilities and will reduce IEV’s implementation time and cost by as much as 50 percent, according to Bruce Broussard, vice president of data products and strategy for Insurity.

The new RDS remains true to the product’s non-proprietary foundation by leveraging a design based upon the ACORD Information Model.  The RDS will provide master and reference data capabilities for insurers looking for an enterprise solution, and will also integrate and synchronize with external enterprise master data management systems for insurers who prefer a component based approach.

“Our clients have been very clear in the added value they expect to derive from IEV’s expansion into master and reference data,” says Broussard. “Combined with the comprehensive transactional data that IEV has traditionally made available, the RDS will both simplify and expand the product’s reporting and analytics capabilities.”

In addition to the data model, Insurity continues to address the other key challenge that insurers face with data solutions—integrating core insurance systems quickly and cost effectively. The initial release of IEV’s new SDI framework allows insurers to create integrations through metadata, avoiding the traditional development approach and dramatically improving the ability of insurers to capture and leverage new data as it becomes available from any source. The SDI framework is especially valuable to carriers with many MGA and TPA integrations. 

“The ability to leverage data is the most significant competitive differentiator in the insurance industry today,” says Broussard. “IEV’s structured data integration framework accelerates the delivery of value for our clients and makes world class data capabilities available and affordable to all insurers.” 

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