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  5. BI and Analytic Solutions - A Snap Poll for the Celent Executive Panel

BI and Analytic Solutions - A Snap Poll for the Celent Executive Panel

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22 July 2024
Karlyn Carnahan

Available Only for Members of the NA Celent Insurance Executive Panel

Abstract

Snap polls reflect questions posed by members of the Celent Executive Panel, a group of C level executives in the insurance industry. This comes from an insurer that at BI/ analytic tools and would like to understand how others made their selection and handled the tradeoffs. This deck provides a summary of the responses to a snap poll conducted July 10– July 16, 2024.

Questions for a snap poll come from one of the other members of the panel. The snap poll was fielded to select members of the Celent Executive Panel, a group of C level executives in the insurance industry. 17 insurers responded to this survey.

If you are an insurer and are interested in participating and receiving these snap polls, please email kcarnahan@celent.com to verify eligibility.

The question that was posed was:

Background:

This insurer uses a CRM solution that has some reporting capabilities within it. They’re trying to decide if they should continue to use the reporting capabilities within that tool or use a different BI tool to access the data from the CRM and other sources to conduct analysis and generate interactive dashboards and displays. They’re currently looking at three options and are curious how others handle this and whether they have any thoughts about the three options.

Questions:

Do you use a CRM system with reporting capabilities? Which one?

Are you using a separate BI/analytics tool in addition to the CRM reporting?

  • Why or why not?
  • What do you see as the pros and cons?

Which one?

  • Qlik
  • Tableau
  • PowerBi
  • Something else

How important were each of the following when selecting your chosen BI analytics tool?

  • Robustness of analytics/projection modelling functionality
  • Ease of user experience,
  • Ease of integration
  • Ability to have a single source of insight
  • Something else

Does your chosen BI analytics tool support your 5-year plans in these each of these areas?

What was the deciding factor for selecting your chosen BI analytics tool over the competitors?

Looking back at the solution choice, are you still satisfied with that? Or if you had the chance to do it over, would you pick something else?

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