Introducing Portfolio Insights: The First Real-Time Analytics Platform for (Re)insurance Partners
Today, we’re excited to introduce a powerful new extension to Boost’s technology platform: Portfolio Insights. Portfolio Insights is a proprietary analytics tool that gives (re)insurers anytime access to real-time performance data for any Boost programs that they support - all through a simple and secure online portal. On the heels of last week’s announcement of Boost Re, Portfolio Insights is the latest component of our platform for the risk capital side of the (re)insurance value chain.
Getting timely access to performance data is an ongoing challenge across the insurance and reinsurance industry. Traditionally, (re)insurers are forced to wait to receive monthly or quarterly reports, sometimes as long as two months after the close of any given period, which gives them little to no time to respond to an increasingly dynamic market. Once they finally receive their data, it usually comes in the form of an Excel spreadsheet delivered via email attachment, requiring time-consuming and manual work to enter into their business intelligence systems.
Why It’s Better
At Boost, we think our partners should know what’s going on with their business right now, not what happened last quarter. Portfolio Insights empowers our (re)insurance partners to:
Immediately access real-time data across their portfolio of Boost programs, getting the information they need to make quick adjustments to product, underwriting guidelines or rates and to drive holistic business decisions.
Easily review portfolio performance in detail through dynamic dashboards and a comprehensive repository of reports, including premium, claims, exposure data, and even real-time loss development triangles - plus a whole lot more.
Gain more granular insight into their business with sophisticated data filtering down to individual programs, specific Boost MGA partners, and historically stable date ranges.
Access automated, downloadable monthly standard premium and claims reports delivered on time to their portal, and stored permanently for access at any time.
How It’s Possible
Real-time access to performance data is an industry first in the (re)insurance space, and it’s only possible because of Boost’s fully vertically integrated technology platform. All of our workflows are configured for end-to-end automation in our policy administration system, which has been built specifically for the MGA and program business where data latency issues are particularly pronounced.
All of Boost’s insurtech, MGA, and embedded insurance partners are technology-enabled in their own right and directly integrated with Boost’s API. That means our platform serves as the system of record on every policy and claims transaction on Boost-powered programs. Any event that impacts income, loss, or exposure is reflected in Portfolio Insights’ intuitive dashboards within one hour. Portfolio Insights gives our risk capital partners unparalleled data access and transparency along with the ability to utilize that data whenever and however they need to.
We’re excited to release this new tool, and we look forward to not only seeing its impact on underwriting performance and profitability, but to continuing to build out even more valuable functionality with our stakeholders.
To learn more about partnering with Boost as a risk capital provider, please contact us at [email protected]