Q&A with Uri Taiber, Founder and CEO at Insfocus
What does InsFocus do?
Taiber: InsFocus is a suite of insurance data related solutions, ranging from reporting & analytics to employee incentives & agent campaigns. It is used for both P&C and L&H insurance domains.
Where do you extract data from?
Taiber: We extract data from the various source systems of insurance companies – policies & claims admin systems, workflow systems, accounting systems.
The product is built around a centralized enterprise data warehouse that extracts the data from those source systems.
Is InsFocus software limited to any specific insurance Core system?
Taiber: InsFocus can be integrated to any source system or multiple source systems. Part of building the enterprise data warehouse involves learning the different systems a company has, and integrating all needed systems to the data warehouse.
We have special acquaintance with many policy source systems, including TIS, Insurtix, Insight, TronWeb, Genesys.
What are the benefits for the insurer?
Taiber: The insurer can have a unified environment for all BI needs – reporting, analytics & dashboards, with a relatively short implementation project and deep insurance analytic capabilities, including support for earned premiums, loss ratios, claims development triangulation, run-off reporting, risk profiles and more.
The system can be also used, with its new product components, for:
- Report distribution to agents or other entities
- Incentives management to sales teams
- Campaigns management for agent sales campaigns
Describe the companies are you currently working with.
Taiber: We are working mainly with insurance carriers, including 10 Israeli insurers, 3 overseas insurers and 2 other companies. Amongst our customers you can find Phoenix insurance (one of Israel’s largest insurers), IDI (Israel’s first and largest direct insurer), Mapfre Middlesea (a daughter company of Mapfre Spain in Malta) and General Insurance of Cyprus (a daughter company of Bank of Cyprus).
You are active for 16 years now. What new products you have recently launched?
Taiber: InsFocus BI, being a state-of-the-art insurance BI platform, has always been the center of our product offering, with extensions built on top of it over the years:
- Two years ago, we added IMS (Incentives Management System), a system for calculating and managing employee incentives based on their performance, that integrates with the main BI platform. The system allows both for daily calculations (to drive sales) and end-of-month calculations (to calculate the salaries).
- In a few months we are launching CMS (Campaign Management System) with our design partner Phoenix Insurance, a system for dynamically building sales campaigns for company agents or employees. The system will allow companies to dynamically build new agent sales campaigns without writing code, only by customizing on-screen parameters.
Tell me about your professional background and about the key figures in the company.
Taiber: I amthe CEO and co-founder of InsFocus, ex. CEO of Zion Insurance company, with 20 years’ insurance and reinsurance executive experience.
Hanan Taiber – co-founder of InsFocus, CS & MBA graduate, has been working on implementing InsFocus & insurance data warehouse for the last 16 years.
Daniel Taiber – co-founder of InsFocus, CS graduate, leads the research & development of all the InsFocus BI product suite for the last 16 years.