Cloverleaf Analytics, a provider of insurance intelligence solutions, has announced the release of Version 4.0 of its Cloverleaf Insurance Intelligence platform.
The company highlighted the updated version’s enhanced capabilities, including its elimination of the operational data store (ODS) and introduction of a data warehouse, enabling carriers to more easily and quickly upload and store policy, claims, and legacy raw data.
This development also follows Cloverleaf’s recent introduction of vendor-neutral business intelligence (BI) support for platforms such as Pyramid Analytics, Microsoft Power BI, and Qlik.
According to Robert Clark (pictured above), founder and CEO of Cloverleaf Analytics, the new platform simplifies the data loading process, addressing a key challenge for carriers transitioning to Cloverleaf’s platform.
“The other major barrier we recently addressed, by becoming the only vendor-neutral insurance analytics provider to support Pyramid Analytics, PowerBI, and Qlik. We were the first insurance-centric BI platform in the industry, and our passion for driving continual innovation that delivers benefits to the insured and insurer is still strong as the day we were founded,” Clark said.
The enhanced platform allows insurance companies to expand the types and amounts of data that can be stored, analyzed, and visualized.
Cloverleaf notes that this flexibility is particularly important as insurers adopt artificial intelligence (AI) and machine learning (ML) technologies, which require large amounts of quality data to function effectively.
The platform’s new feature, Cloverleaf GenBI (Generative Business Intelligence), allows both technical and non-technical users to ask questions or identify problems and receive automatically generated dashboards with real-time insights powered by AI.
Michael Schwabrow, executive vice president of sales and marketing at Cloverleaf Analytics, highlighted that the platform enhancements will improve productivity for knowledge workers and help senior executives guide their businesses more effectively.
“Forward-thinking insurers must have a viable strategy for how they will adopt AI in a meaningful way, address changes in customer expectations, and ensure valuable institutional knowledge that resides within soon-to-retire employees stays with the business. Our new data lake, customization, vendor-neutral BI, and GenBI capabilities check all these boxes for P&C insurers of any size,” Schwabrow said.
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