Bridging the Gap in Insurance Coverage for War Damages
“Keren Pitzuim” (Israel Compensation Fund) was established to provide compensation to victims of war damages who are not covered by insurance policies. The fund is financed by the Israeli government and is managed by a committee of experts.
October 19, 2023
The Jeanne Calment Story: Longevity, Risk, and Unforeseen Outcomes
The captivating tale of Jeanne Calment serves as a beacon of wisdom in embracing longevity, risk diversification, and the law of large numbers.
August 14, 2023
Insights from the Recent Survey on Pain Points from BI tool
We recently conducted a survey on Pain Points from BI tool to gather insights and opinions from all of you. Thank you to everyone who took the time to fill out the form. We received an overwhelming response and wanted to share some of the key findings with you all.
July 13, 2023
The Sleeping Beauty Problem and Insurance Excess
In the realm of decision theory, the Sleeping Beauty Problem has long intrigued philosophers and scientists alike. This thought experiment poses a puzzling scenario where a subject is put to sleep and wakes up to find herself participating in a fair coin toss, with her memory erased.
June 7, 2023
Why Insurers Shouldn't Judge a Driver by the Color of Their Car: Lessons from the "Lady Tasting Tea"
For years, there has been a widespread belief that red cars are more dangerous and prone to accidents. This myth has been perpetuated by movies, advertisements, and even some insurance companies.
May 10, 2023
Who was the famous student from the “t student” distribution?
The t-test is a statistical method that allows researchers to compare two groups of data and determine if the difference between them is significant or just due to chance. The test is named after William Sealy Gosset, however, the test is commonly referred to as Student's t-test
April 18, 2023
Are gender insurance discounts legitimate?
Gender is an essential parameter in both, insurance pricing and coverage. This is because a studied and verified relationship exists between gender and attitude toward risk.
March 29, 2023
Unveiling the Power of Bias and Sampling: Lessons from Abraham Wald's Approach to Saving Lives and Sale Insurance
Abraham Wald's approach to solving the problem of bomber losses is an example of the importance of understanding bias and sampling in data analysis for insurance
March 14, 2023
Is the market going towards the integration of life and health insurance?
The benefit of life-extending medical treatments to life insurance companies has a direct benefit as they lower the insurer's liabilities by delaying the death compensation and increasing premium income. The question is if these situations drive toward the integration of life and health insurance.
February 6, 2023
Influence of the deductible on the results of the company
There is a marked preference of customers for insurance policies with low or no deductible. Several experiments have shown that people tend to underestimate the value of a deductible policy, and that the degree of underestimation increases with its size.
September 13, 2022
Migdal Insurance Company Chose InsFocus BI For Its Non-Life Actuarial Department
Migdal Insurance is joining the customer base of InsFocus, a software company that provides a unique insurance business intelligence solution, used by most of Israel’s companies.
August 12, 2022
Fixed costs in calculating channel profitability
When insurers generate a formula to calculate the profitability of sales channels, they usually include fixed costs as one of the components. The arguments in favor of including these costs are that, from the macro point of view of the company, resources must be generated to cover office costs, mana
July 5, 2022
Dilemmas on Profit Commission
The use of profit commissions for insurance agents and agencies is very common and is intended to be an incentive for them not only to increase sales but also to try to get good policyholders.
April 28, 2022
All You Need to Know About Loss Ratio!
Those of us who have been in the insurance industry for many years know what it is about and if you are reading this post, surely you too.
April 26, 2022
Insurance Curiosities: Why Is February the Favorite Month for Insurers?
The following claims report is based on real auto insurance data from one of our clients.
March 22, 2022
Creative Use of Business Intelligence
On this occasion, we want to share the creative report made by Sammy, sales manager, of one of our clients.
February 14, 2022
InsFocus business intelligence solution was chosen by Madanes insurance agency!
Madanes, the largest independent insurance agency in Israel, has chosen InsFocus’ BI solution for establishing an organizational Data Warehouse.
November 30, 2021
The Impact Of The Coronavirus Pandemic On The Insurance Industry
The Coronavirus pandemic has changed our world in many different ways and has created one of the most severe global economic crises in human history. The pandemic has had a profound impact on the insurance industry too.
March 1, 2021
Israel’s Compulsory Vehicle Insurance Pool selects InsFocus BI as its reporting and analytics system
The Pool has contracted with InsFocus for business intelligence solutions.
November 12, 2020
InsurTech Trends in 2019 and Beyond
At the end of 2019 we reviewed reports published by major consulting companies: PwC, Deloitte and Accenture about the insurance industry in order to understand key industry trends and their impact on InsurTech startups.
July 2, 2019
Incentive Management System for Life and Health Insurance
InsFocus Systems, a leading provider of data-warehousing and business-intelligence software for insurance companies, has expanded into the life-health insurance domain with a new product – Incentive Management System (IMS) for sales representatives and agents.
July 1, 2019