Eliminate manual processes and gain real-time data insights to your processes today with NSEIT’s Advanced Analytics in Insurance Accelerator (AAIN-A)
Despite being a key parameter in insurance, financial reporting still faces many challenges today due to the overuse of various manual processes. Because of this, insurance agencies are unable to perform to their fullest potential and are plagued by the various time and resource management challenges that are inherent to manual operations.
The need of the hour is a quick and robust solution—one that can overcome the constraints of manual processes and provide an immediate resolution to these many challenges that are stifling insurance providers.
The Solution to Your Situation
The Advanced Analytics in Insurance Accelerator (also known as AAIN-A) is a power BI-based framework that is specially designed for the financial reporting requirements of the insurance industry. This framework is built to gather data from various source channels that are key to financial reporting in insurance enterprises, such as premiums, claims, commissions, expenses, and trial balances.
The solution then processes the data and provides visual dashboards to monitor KPIs across a variety of different vectors, including:
- Geographies
- Vendors
- Brokers
- Monthly financials
- Agencies
- Channels
- Cost centers
AAIN-A lives up to its name by holding up a mirror to your enterprise’s financial reporting, offering complete transparency and real-time insights. These, in turn, provide you with a clear picture on your operations to save time, reduce risks, and overcome any hurdles of manual processing.
The Power to Do More
Multiple data sources Utilized
Premiums, Claims, Commissions Expenses, Trial Balance
Data Processing, Storage, and Key KPIs
GWP, GEP, XOL, LR, NWP NEP, IBNR, XOL, ER, OPEX
Dashboards and Analytics Capabilities Provided
CXO Dashboard, Product, Scorecard LOB Scorecard, Branch Scorecard and Channel Scorecard, Trial Balance Monthly Financials, Cost Centers
Comprehensive Financial Reporting
- Collects and processes data from multiple sources
- Provides visual dashboards to monitor KPIs across various business areas
- CXO Dashboard covers 12+ critical parameters for tracking overall business performance
- Offers six dashboards with 10+ filters to analyze data across multiple dimensions
- Provides three scorecards to monitor performance stats for LOB, Product, and Branch/City
- 75% faster GTM owing to the Inbuilt features of the AAIN-A Framework that can be used on as-is basis
Faster and More Efficient Operations
- Eliminates manual consolidation, checks, and balances
- Overcomes complexities of manual calculations
- Enhances data processing for faster decision-making and reduced risk
- Reduces delays in data dissemination for statutory auditors
- Minimizes errors and saves valuable work-hours for repetitive tasks
- Dual Currency support for India & the US market
Customizable and User-Friendly Accessibility
- Extension to add additional business-level filters
- Governance at user level for dataset access
- Easy integration with the existing AD framework
- Multiple database support systems with real-time data changes
- Provisions to view data in tabular or chart format, and easily shift between screens
The Solution to Your Situation
For CFOs
Empower your finance function with a solution that reduces multiple to-and-fros for the team. And offers point-in-time updated financial status across key business parameters for immediate decision making.
For CDOs and COOs
Experience better data consolidation, faster decision-making, and improved risk management that will drive efficient operations for your enterprise.
For CTOs and CIOs
With the cutting-edge power of our data consolidation and analytics platform at your fingertips, you can take decisive steps to streamline data processing and reduce risk across your operations.
Our domain experts and highly trained specialists are always on hand to cater to your questions. We can provide you with a step-by-step integration and operational framework so that you can use AAIN-A to bring out your enterprise’s maximum potential.
© NSEIT Limited. All rights reserved.
All trademarks, logos, and brand names are the property of their respective owners. All company, product, and service names used are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.
