An insurance example would be a triage of renewing policies. Those that meet certain criteria (past profitability of the policy itself, plus past profitability of the segment that the policy is in being just two – the latter because of cause on average some policies in any segment will have losses).

Where there is significant loss activity, then an underwriter will need to review the account. Where there is mild loss activity, then a technical assistant can review the account and refer it to an underwriter if they deem it necessary. If all is well, then the policy auto-renews.

Now this is clearly – as you said – workflow. The issue is that you need to look at the the portfolio level, not just the policy and for that you need BI which also includes all pertinent actuarial estimates.

I hope that makes sense.

I intentionally steered away from cloud BI as I wanted to learn a bit more about what vendors were doing first. I’m still in the process of doing this.

Peter

Will we see some other trends like BI vendors pushing cloud based solutions just to keep up with the “new trend”?