Full Capture Solutions (East Hartford, Conn.), a provider of business analytic and search technologies for the insurance industry, has introduced Semantic 360 Data Mart, a service that encompasses the development and hosting of a searchable, multi-media and multi-level data mart.
Semantic 360 Data Mart provides a comprehensive platform for insurance business analytics that optimizes the value of unstructured data. All digital content related to a claim is aggregated " structured data, unstructured text, coverage parameters, imaged documents, digital photos, audio and video. Structured and unstructured data, along with "scraped" text from imaged documents are consolidated into a searchable format. In addition to unit claim views, data mart roll-ups are provided by line of business, agent, writing company and holding group.
"One of the biggest challenges for insurers in implementing business analytics has been the lack of adequate data models and repositories," stated Matthew Josefowicz, director of the insurance practice at Novarica, a research and advisory firm focused on insurance technology strategy, and lead author of its recent report on Business Intelligence for Insurers. "Solutions that are designed to deal with the complexities and unique characteristics of insurance data can help insurers address these challenges."
A one-time per claim fee includes the capture of all data created for the life of the claim, including hosting and storage costs. For insurers interested in a comprehensive, turn-key analytics solution, the Semantic 360 Data Mart integrates with Full Capture's data access tools (FCSi Search and FCSi Reporter 360) and its suite of semantic model applications.
Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio