Strategic centralization, systems integration key to insurance industry - FICO

- Wednesday, February 2, 2011

Strategic centralization, systems integration key to insurance industry - FICO

Centralizing all strategic decisions, as well as systems integration, is key to success for insurance companies in Brazil, said Scott Horwitz, director of US solutions provider FICO (NYSE: FICO), according to a release from industry association CNSeg.

Insurance companies have vast amounts of client information spread around in different departments, and on top of that, much of it is never shared internally. Centralizing that information is key for managing risk, as well as effectively introducing client-specific products and services, Horwitz said.

"Data centralization and connection in a strategic center helps to manage risks, provide better customer service, manage better marketing decisions in all company departments and assist in preventing [insurance] fraud," Horwitz said.

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FICO's regional operations are based in Brazil and have clients in 24 countries in Latin America.