NEW YORK, June 2, 2009 (GLOBE NEWSWIRE) -- Moore Stephens Business Solutions, LLC (MSBS) is pleased to announce Harford Mutual as the first client to implement the Insurance Analytic Framework (IAF) for insurance carriers, brokers and MGAs. The IAF is a product of MSBS' insurance industry experience which embodies best practice design and is a proven, pre-built, insurance-specific solution that delivers performance metrics for analysis by insurance professionals.
"We realized we needed consistent, standard data and reporting across our organization with real-time drill-downs," said Stephen Fabian, assistant vice president, information technology at Harford Mutual. "We chose Moore Stephens because they had a product built specifically for the insurance industry. They spoke insurance and could relate to our business requirements. We had confidence they could get it done."
Prior to signing with Moore Stephens, Harford Mutual met with several potential vendors. The contract with Moore Stephens was signed in January and the project kicked off in February.
"We are extremely pleased to have Harford Mutual as our first customer to implement the IAF," said Seth Rachlin, CEO of New York City-based MSBS. "Insurance is a data-intensive business requiring hundreds, or in some cases even thousands, of reports to be produced every day, week, month and quarter. Most insurance executives admit it is very difficult to get a holistic picture of company performance and business, which makes it even more difficult to manage their businesses in real-time. The IAF addresses this problem by bringing together and harmonizing disparate data from throughout the organization to deliver key performance indicators (KPIs) relating to premium production, policy performance, pricing and exposure trending, claim activity and reserve forecasts, and operational efficiency."
Unlike traditional data warehousing products currently available, the IAF is capable of integrating with core insurance administration platforms and existing data warehouse, data mart and reporting infrastructures. Built using leading-edge Online Analytical Processing Technology (OLAP) provided through Microsoft SQL Server Analysis Services, the IAF seamlessly integrates with leading business intelligence platforms including Microsoft Office PerformancePoint Server 2007, Cognos and Business Objects, permitting the rapid deployment of scorecards, dashboards, as well as sophisticated analytic environments.
About Moore Stephens Business Solutions, LLC
Moore Stephens Business Solutions, LLC is the leading provider of performance and risk management solutions to the global insurance industry. They are an independent member firm of Moore Stephens International, a global professional services network with offices in principal cities throughout the world. For more information about Moore Stephens or the bIntelligent Insurance Analytic Framework, please contact Jim Hearn via phone or email at 860-933-5878 or jim.hearn@moorestephens.com.
About Harford Mutual
The Harford Mutual Insurance Company, founded in 1842 in Harford County, Maryland, provides property and casualty insurance products and services to a regional market. Our efforts allow policyholders to conduct their business and personal matters with the knowledge that they are protected by a financially-strong and established insurer. For more information about Harford Mutual, please visit www.harfordmutual.com.