at Financial Technnology Year
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Features in Data Visualization Tools
for Underwriting
Software that presents complex risk data in intuitive visual formats, enabling underwriters to identify patterns, trends, and outliers more efficiently in large datasets.
We ask vendors to mark their product against our feature list. It is not available for all products and in some cases we have derived data from publicly available sources. The list of features follows. Vendors can add a further 10 key features of their own.
Advanced Analytics Integration
Capabilities that allow data visualization tools to integrate deeper analytics relevant to underwriting.
- Anomaly / Outlier Detection Visualization
- Highlights suspicious activity (fraud, errors) with automated graphics.
- Correlation Matrix Visualization
- Visual representation of relationships between variables (peril, region, profile).
- Custom Formula Builders
- Users can define custom metrics/formulas for underwriting KPIs in the platform.
- Integration APIs for Data Science Tools
- Connects to R, Python, or similar tools for custom analytics.
- Integration with Actuarial Models
- Can visualize data/results from actuarial tools or software.
- Machine Learning Model Insights
- Integration with ML platforms for visualizing feature importance, model lift, etc.
- Predictive Analytics Support
- Visualize outputs from predictive risk, pricing, and fraud detection models.
- Statistical Summary Visualizations
- Automatic display of mean, median, standard deviation, loss cost distribution, etc.
- Time-Series Forecasting
- Visual tools for historical and projected trends (claims counts, premium, etc.).
- What-If Analysis Tools
- Explore scenarios and their impact on key metrics.
Cost & Licensing
Flexible, transparent, and predictable pricing/licensing models to suit insurance firm requirements.
- Academic/Non-Profit Tier
- Reduced pricing for research or non-profit institutions.
- All Features Included
- No hidden or tiered feature restrictions.
- Bulk License Discounts
- Discounts for enterprise-scale use.
- Custom Contract Lengths Offered
- Flexible contractual terms to suit business needs.
- Free Trial / Proof of Concept Availability
- Option to test full features before commitment.
- Ongoing Maintenance Fees
- Maintenance or support costs are bundled/transparent.
- Pay-as-You-Go Option
- No long-term contractual commitment required.
- Per-User vs. Unlimited Licensing
- Pricing flexibility based on company size and usage pattern.
- Self-Service Procurement
- Ability to purchase/licence directly online.
- Transparent Pricing Model
- Costs are clearly published and predictable.
Data Integration
Capabilities to connect, import, and synchronize data from diverse sources commonly involved in insurance underwriting.
- Custom Data Connectors
- Supports custom connectors to niche insurance data sources (e.g., reinsurance systems, claims databases).
- Data Enrichment
- Ability to augment existing datasets with 3rd party data (demographics, property risk scores, etc.)
- Data Lineage Tracking
- Keeps track of the source and transformation path of data.
- Data Quality Checking
- Automated validation for outliers, missing values, and format consistency.
- Data Transformation
- Provides tools for cleaning, transforming, and normalizing data within the platform.
- Large Data Volume Capacity
- Maximum size of importable datasets.
- Multi-Source Data Import
- Ability to import data from spreadsheets, databases, APIs, and cloud applications.
- Real-Time Data Sync
- Automatically updates visualizations as data sources change.
- Scheduling Imports
- Allows scheduled recurring data pulls for up-to-date insights.
- Support for Insurtech Standards
- Compatible with ACORD or other insurance data standards.
Integration & Scalability
Features facilitating smooth incorporation into existing IT stacks and support for future growth.
- Batch and Streaming Data Processing
- Handles both scheduled (batch) and real-time (streaming) data ingestion.
- Custom Script Support
- Allows custom Python, R, or SQL code to run inside data processes.
- Customizable ETL Pipelines
- Create, schedule, and manage ETL jobs within the platform.
- High Availability SLA
- Platform uptime guarantee.
- Marketplace Add-Ons
- Access to a library of add-ons/extensions.
- Number of Supported Integrations
- How many unique partner systems/APIs are available out-of-the-box.
- On-Premises, Cloud, and Hybrid Deployment
- Flexible deployment options based on IT and compliance strategy.
- Open API Availability
- Robust API to push/pull data and automate processes.
- Plug-Ins for Insurance Core Systems
- Direct integrations for systems like Duck Creek, Guidewire, etc.
- Support for High Concurrency
- System can handle large numbers of simultaneous users and complex queries.
Performance & Reliability
Indicators relating to speed, responsiveness, and reliability for large and complex underwriting data sets.
- Auto-Scaling Infrastructure
- Infrastructure automatically scales to meet variable loads.
- Concurrent Query Capacity
- Number of simultaneous queries supported before performance degrades.
- Dashboard Load Time
- Average time to load complex dashboards.
- Data Refresh Frequency
- Shortest interval between data refreshes (lower is better).
- Disaster Recovery Time Objective (RTO)
- Maximum tolerable downtime after a disruption.
- Guaranteed Backup Frequency
- Frequency of automatic system backups.
- Maximum Supported Dataset Size
- Largest dataset size supported for analysis.
- Query Execution Speed
- Average time to process user-initiated queries.
- Scalability for Users
- How easily user capacity can be increased.
- Uptime Guarantee
- Service Level Agreement (SLA) for platform reliability.
Reporting & Distribution
Distribution options for sharing insights across teams, including automated and manual delivery methods.
- Auto-Generated Executive Summaries
- Narrative summaries of KPI movements and trends.
- Custom Print Formatting
- Set paper size, watermark, page headers, and logos for printed reports.
- Custom Report Builder
- Easily build bespoke reports from any dataset.
- Distribution to External Partners
- Share reports securely with outside brokers or reinsurers.
- Dynamic Report Filtering
- End-users can apply filters and customize their view on delivered reports.
- PDF, Excel, Image Export
- One-click export of visuals into common office formats.
- Public and Private Link Sharing
- Control whether links are public, SSO-restricted, or one-time.
- Report Versioning
- Track and view previous versions or dashboards.
- Scheduled Report Delivery
- Automated delivery of reports/dashboards via email or other channels.
- Subscription Management
- Users can subscribe to and manage alerts for specific dashboards.
Security & Compliance
Features ensuring the confidentiality, integrity, and regulatory compliance of sensitive underwriting data.
- Audit Logs
- Comprehensive tracking of data access and changes for compliance.
- Automatic Data Masking
- Sensitive fields (PII, health, etc.) can be obfuscated by policy.
- Automatic Session Timeout
- Sessions expire after a defined period of inactivity.
- Custom Access Permissions
- Fine-grained control by report, field, or row level.
- Data Encryption At Rest/Transit
- Ensures data is always encrypted, both stored and in transmission.
- GDPR and Local Data Residency
- Compliance with data privacy regulations including data localization.
- Multi-Factor Authentication
- Adds an extra layer of access security for user accounts.
- Security Certifications Held
- Compliance with standards (ISO27001, SOC 2, etc.).
- Self-Hosted Deployment Option
- Can be deployed in a private data center or on-premises environment.
- Single Sign-On (SSO) Support
- Integrates with company SSO for seamless and secure access.
Support & Vendor Services
Access to timely, knowledgeable support, implementation, and ongoing improvement services tailored for insurers.
- 24/7 Technical Support
- At least one support channel is always available.
- Comprehensive Documentation
- Full user/admin guides and integration references.
- Custom Feature Development
- Willingness to build or adjust features upon request.
- Customer Feedback Channels
- Input mechanisms for feature requests and improvement suggestions.
- Dedicated Account Manager
- Personalized support through a named representative.
- Onboarding Implementation Services
- Professional onboarding and solution customization.
- Regular Product Updates
- Continuous improvement, release roadmaps shared.
- SLAs for Support Response
- Guaranteed response times for critical issues.
- Training and Certification Programs
- Structured courses and certifications for users.
- User Community Forums
- Active user groups for peer support and best practice sharing.
User Experience & Collaboration
Features focused on ease of use for underwriters, actuaries, and business partners, with powerful collaboration tools.
- Accessibility Compliance
- Meets standards for accessibility (WCAG, ADA), essential for larger insurers.
- Collaboration Tools
- Share dashboards, schedule reports, send email alerts, and assign tasks.
- Commenting and Annotation
- Allows users to add comments or highlight insights directly on visualizations.
- Concurrent Users Supported
- Maximum simultaneous users supported by the platform.
- Custom Notifications
- Push alerts for key metric changes, risk spikes, etc.
- End-User Training Resources
- Comprehensive help, onboarding guides, tutorials.
- Multi-Language Support
- The interface is available in multiple languages.
- Personalized Dashboards
- Users can build, save, and set default dashboards tailored to their workflow.
- Quick Search
- Search among dashboards, reports, or data fields for rapid analysis.
- Role-Based Access Control
- Grant/restrict views and editing of data and dashboards based on user role.
- Workflow Integration
- Integrates with underwriting approval, review, or referral workflows.
Visualization Capabilities
The breadth and customization of visual representations available for underwriting analysis.
- Automatic Visualization Recommendation
- Suggests optimal chart types based on data structure.
- Custom Chart Types
- Supports bar, line, scatter, heat maps, geospatial, network diagrams, and industry-specific visuals.
- Customizable Themes and Branding
- Align dashboard appearance with company brand standards.
- Drill-Down Analysis
- Dive into granular detail directly from dashboards.
- Embedded Visualizations
- Allows sharing or embedding charts in underwriting portals or presentations.
- Export Options
- Export dashboards or charts as images, pdf, interactive html, etc.
- Geospatial Mapping
- Visualize risk concentration and policy distribution on maps.
- Interactive Dashboards
- Build and share dashboards with real-time filters.
- KPI and Metrics Cards
- At-a-glance display of key underwriting metrics (loss ratio, exposure, premium, etc.).
- Mobile-Friendly Dashboards
- Dashboards automatically adapt to smaller screens.
- Number of Supported Visualization Types
- How many unique chart and visualization types are included.
- Side-by-Side Comparisons
- Directly compare multiple entities or time periods.