Gain Competitive Edge With Insurance Data Integration
The very foundation of the insurance industry is based on the ability to collect and analyze data to accurately evaluate risk. To fulfill this need, insurance companies collect data from a variety of structured and unstructured data sources, ranging from policy administration solutions and billing systems to medical reports, social media, and even geospatial information systems.
Astera Software offers data integration solutions for the insurance sector that help insurers make sense of data from a myriad of sources and use it for analytical purposes. Designed to meet the full spectrum of master data management needs, our data integration solutions help create a single, unified environment for integrating data from disparate sources and making it available for analysis and reporting on the desired system of your choice.
Moreover, our big data management solutions for insurance companies help them move away from legacy infrastructure, get 360-degree customer view, and unify data at a single data mart from multiple disparate sources. Using a data integration solution, insurance companies have doubled their business efficiency to onboard customers, fulfill claims, and reduce losses by realigning their data pipelines aided by our data integration platform.
Legacy applications are not designed to handle the sheer volume and complexity of data collected by an insurance company. Since replacing these systems can incur significant costs and risks, Astera Software offers a data integration solution that provides capabilities to integrate, validate, and synchronize data between both legacy and modern systems.
Insurance companies can make good decisions about exposures, risks, and coverage only if they have access to quality data. Our data integration and extraction solutions enable insurers to bring together data from a plethora of systems and ensure its reliability with integrated data profiling and validation features.
Regulations like Solvency II and International Financial Reporting Standards (IFRS) require aggregated views of multiple datasets. Our data integration solution, with its ability to easily integrate hierarchical data files and deliver validated data to databases, BI tools, and other destinations, helps insurance companies ensure regulatory compliance.
Fragmented systems can prove to be an impediment to innovation for insurance companies. Break data silos and create a trusted source of product, customer, and business data to drive innovation and improve sales with our automated data warehousing solution.
Insurance companies have complex infrastructure comprising of disparate systems based on different hardware and operating systems. Astera helps insurers involved in a merger or acquisition easily integrate data from all operational and analytical systems, thereby reducing data redundancy and operational costs.
Unstructured data available via social media, blogs, and other modern data streams can provide insurers an added dimension to customer insight. With our data extraction solution, we help insurance companies transform this raw data into meaningful information and integrate it with a BI tool to reveal hidden patterns and trends.
Efficient and reliable information exchange is crucial to avoid processing bottlenecks and delays. Featuring a drag-and-drop interface and support for a variety of industry formats, including X12 and EDIFACT, our EDI solution helps insurance companies reduce partner onboarding time and build strong trading partner relationships.
Insurance Companies That Trust Our Data Management Solutions
Our data integration solution helped a global financial services company cut portfolio acquisition costs by 75 percent.
Transforming data arriving in disparate formats into a company-specific layout required several weeks and a team of 20 people. Centerprise cut down the time to less than a week, helping the company onboard partners more quickly.
Astera Software worked with Ralph-Brooks Federal Credit Union to help the company migrate hundreds of gigabytes of data from a legacy system to an internally-developed core banking platform.
With out-of-the-box connectivity to mainframe, our data integration solution helped the bank transform brokers’ data to a predefined template readable by IBM mainframe and build a central data repository.