Version 1.93 Released
Hi,
Today we released InsFocus BI version 1.93.
The new release has a set of important improvements, many of them came as direct feedback from our clients. We put a lot of effort into making our insurance-specific data model and business intelligence platform stronger and more flexible.
IF function in calculated items
Creating calculated items in InsFocus has been greatly enhanced by the ability to use logical expressions and the IF function. The new calculated items edit form now looks like this:
Filter by tab
The filter mechanism is now much more sophisticated while used with tabs. When defining a filter on a report with tabs, we get the following dialog:
This allows:
- Applying the same filter on all tabs.
- Applying the filter only on the selected tab.
- Applying the filter on the selected tab, and then filtering all other tabs by the rows filtered in the selected tab.
Distribution column
A distribution column can now be added with a single click to a report:
Flexible “last” period definition
When setting report time periods, the system enables defining different ending dates as seen in the example below.
If today’s valid date is 15th December, 2010:
- Year to date – 1/1/2010 – 15/12/2010
- Year to Quarter – 1/1/2010 – 30/9/2010
- Year to Month – 1/1/2010 – 30/11/2010
- Full Year – 1/1/2009 – 31/12/2009
Valid date – time base relationships
The notion of “valid date” in the system used to mean accounting date. We filtered every report by this valid date, allowing time rollback, and not displaying “future” inception policies by default.
This was not very suitable for “operation” time base, in which tracking is of daily actions – sales, claims opened, etc. In this time base, people wanted to see all data, including “future” data – when measuring agent sales, it is not very important if the policies sold have gone into the accounting books or not.
In the new version, the meaning of the “valid” date changes by time base; thus operational reports show all activity by default. When doing time rollback on operational reports, data will show up to the operation date chosen, and not accounting date chosen. This will simplify report definition and make it more intuitive to users.
New renewal items
- One of the greatest features of the system is the ability to dynamically measure renewals and lapses. We made this even better in this version by adding more items to the generic model and tweaking the current items. Renewal items now include:
- Policies up for renewal up to report’s valid date
- Policies for renewal for the whole report period (even after valid date)
- Lapses, renewals, lapse %, renewals %.
- Annualized premiums for renewal, renewed.
- Annualized premium renewal difference (of renewed policies).
- Annualized premium lapsed.
- Sums insured for renewal, renewed.
- Sums insured renewal difference (of renewed policies).
The system can now generate reports measuring renewal and lapse ratios, can generate list reports of policies for renewal and policies renewed and can compare premiums and rates changes at renewal.
Other changes
- Optimization in the query mechanism makes running long list reports a lot faster.
- Empty reports can be excluded from report schedule, so user will get alerts only when a report has data (e.g. send me daily all claims above X).
- Valid date in time periods header (@) is now optional.
For further inquiries on the new version and its new features, visit www.insfocus.com or contact us at info@insfocus.com.
Hanan Taiber
CTO, InsFocus Systems
hanan@insfocus.com
