Portland, Ore.-based SRC Software has launched SRC for Insurance, the first comprehensive budgeting, forecasting and reporting solution for the P&C insurance industry, according to the vendor. The solution is designed to automate the financial data collection, analysis and distribution process across an entire insurance enterprise, eliminating the complex and error-prone internal budgeting and forecasting environment that is characteristic of insurance organizations.
SRC claims that SRC for Insurance is the only vertical solution that provides complete visibility of financial data across the company, adding that it is readily integrated with all relevant internal data on the back end. SRC for Insurance's front end is based on a Microsoft (Redmond, Wash.) Excel format for ease of use.
The solution allows for management of quickly shifting variables, such as the number of agents and rate adjustments. Additionally, it personalizes reporting, provides planning analysis for "what-if" scenarios and tracks trends, with minimal requirements for ongoing IT administration.
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio