Acturis Enhances Insurance Efficiency with MicroStrategy Business Intelligence Platform
Company Size
1,000+
Region
- Europe
Country
- United Kingdom
Product
- Acturis Broker Platform
- MicroStrategy Business Intelligence Platform
- Acturis Report Center
Tech Stack
- MicroStrategy Web
- MicroStrategy SDK
- MicroStrategy Intelligence Server
- MicroStrategy Web Server
- MicroStrategy Desktop Designer
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Customer Satisfaction
- Productivity Improvements
Technology Category
- Analytics & Modeling - Predictive Analytics
- Analytics & Modeling - Real Time Analytics
- Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
- Sales & Marketing
Services
- Software Design & Engineering Services
- System Integration
- Training
About The Customer
Acturis is a leading provider of technology solutions for the insurance industry, working with brokers and insurers to enhance efficiency, improve customer service, and drive profitability. The company offers the Acturis Broker Platform, which provides a new and innovative way of transacting insurance, reducing duplication of work, lowering error rates, and driving costs out of the broker distribution channel. Acturis also leverages the MicroStrategy Business Intelligence Platform to anchor its reporting and management information system, the Acturis Report Center, enabling effective business performance measurement and improved productivity for brokers and insurers.
The Challenge
The general insurance industry is highly attractive due to its large market size and potential for significant profits through efficient and innovative underwriting and distribution. However, the industry faces significant challenges due to inefficiencies such as multiple hand-offs, duplication, manual processes, errors, rework, and incompatible systems. These inefficiencies result in overheads absorbing 34% of all premiums, meaning more than one-third of a commercial customer’s premium is consumed in cost rather than risk transfer. This leads to low or no profitability and poor customer service. The industry players need to improve service levels and reduce costs to avoid being replaced by alternatives, as these inefficiencies are too significant for customers to ignore.
The Solution
The Acturis Broker Platform is an innovative broker trading system that significantly enhances broker efficiency, service, and broker-insurer interaction. It is supplemented by various innovative products and services aimed at increasing brokers’ revenue and providing growth opportunities. Acturis uses MicroStrategy to anchor its reporting and management information system, the Acturis Report Center, which allows brokers, insurers, and their technology partners to improve productivity and efficiency by enabling effective business performance measurement. The search for a suitable business intelligence platform led Acturis to choose MicroStrategy for its 'zero footprint' client, enterprise-class capabilities, ease of integration, robustness, scalability, and power combined with ease of use. The integration was fast and trouble-free, with Acturis' technical team carrying out most of the work using the MicroStrategy SDK and other tools, with validation and detailed help from MicroStrategy consultants.
Operational Impact
Quantitative Benefit
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