SpectoWise enables Fortune 1000 corporations, insurance carriers, healthcare companies and financial institutions with large, scattered and unassociated pools of corporate information and data to transform their mountains of internal and external data into powerful and meaningful business intelligence quickly and easily at a very affordable cost - and fast.
Powerful Data Aggregation & Analysis Services
SpectoWise's powerful new data aggregation, association and analysis technologies combined with the company's expertise and advisory services enable senior corporate and insurance carrier executives such General Counsel, Chief Financial Officers, Senior Claims Executives and Chief Technology Officers to:
- Aggregate and see all of their expenditures on an enterprise level, completely normalized for the first time.
- Analyze historical performance and establish baselines and realistic and meaningful performance goals based on actual historical data.
- Conduct predictive analysis and control operational costs and performance in real time by monitoring deviance from expected norms and flagging exceptions as they occur.
- Proactively make engagement decisions and conduct positive strategic deliberations by quickly sharing associated data across departments and entities.
- Compare previously unrelated data to create powerful new ways to use and view data - comparing a claims database against a marketing database for example.
Comprehensive Data Mining
SpectoWise uses a comprehensive new but proven set of Microsoft based technologies which can quickly aggregate, associate, mine and analyze corporate and insurance carrier data from a wide variety of previously unassociated sources, including:
- Legal e-invoicing data from any third-party processor.
- Claims and/or matter management system data.
- In-house and homegrown corporate legal and claims databases.
- Excel spreadsheets and Access databases.
- Oracle databases.
- IBM mainframe database exports
- Accounts Payable systems of any kind.
- Law Firm Time & Billing data (i.e. JURIS, ELITE, Aderant, etc.)
Only SpectoWise has the ability to quickly and effectively combine and associate all of these vastly different sets of disparate corporate and insurance carrier sources into a powerful new data cube completely customized for each client according to the client's own variable criteria for data analysis purposes because the technologies which have made this possible have only appeared on the market over the past two years, and SpectoWise is taking full advantage of them!
Next Generation Corporate and Insurance Strategic Management
SpectoWise provides insightful, segmented, customized and intuitive information needed to truly empower C-Level executives to completely manage their companies by putting the information need at their fingertips as they need it, when they need it - NOW.
SpectoWise is designed to be:
- Quick, simple and easy to deploy, use and support. SpectoWise's services can be engaged and provide value almost immediately.
- Provide a low cost of entry, low cost of service and a low cost of exit. There no massive implementation fees and no company is tied into SpectoWise because of a monumental financial investment.
- Do not disrupt any existing internal corporate or insurance systems, or any external third-party legal e-invoicing, claims or matter management systems.
- Provides a new way to analyze and look at data which no other technology vendor is able to provide today. While the business world is still running largely on two-dimensional Excel spreadsheets and all of its limitations, SpectoWise is prepared to introduce the business world to the world of data cubes, three-dimensional data association, advanced data analytics, and the power of applying new technologies onto mountains of data which could not previous be tapped for the value they contain.
- SpectoWise fully supports Sarbanes-Oxley and HIPAA compliance mandates.
December 14th, 2006 by SpectoWise
From a survey of 311 in-house lawyers by Fulbright & Jaworski, LLP.
The Average American company is a defendant is 305 lawsuits pending worldwide concludes a new survey, with insurers facing the most individual lawsuits (1,696 per company on average.) A third of those surveyed are defendants in one or more class actions.
Percentage of companies facing at least one U.S. class action, by industry:
INSURANCE: 69%
RETAIL/WHOLESALE: 65%
MANUFACTURING: 51%
BANKING/FINANCIAL SERVICES: 43%
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November 16th, 2006 by SpectoWise
SpectoWise launched its next-generation data aggregation and analysis service to a very positive response earlier this year. Dozens of Fortune 500 corporations, financial institutions and insurance carriers have now seen the power and flexibility of our new enterprise-level data analysis platform. SpectoWise is now actively working with several companies to design custom-tailored data analysis solutions for them.
Several companies have asked if SpectoWise could provide them with a different kind of service, and SpectoWise has listened and responded!
A number of corporations have asked if SpectoWise can supply its advanced business intelligence data analysis services on a fixed-price project basis rather than under its subscription model, and the answer is – absolutely!
Examples of these kinds of projects are as follows:
Case One: An insurance carrier has asked if SpectoWise can compare its claims database against its marketing database to determine if the carrier is effectively marketing its services. SpectoWise has the ability to do this, as SpectoWise databases are not limited to accepting legal and claims data alone.
Case Two: A corporate legal department is struggling with five different legal e-invoicing and matter management systems due to a series of mergers and acquisitions. These systems are completely dissimilar and deploying a new system will take years and millions of dollars. SpectoWise has the capability to very quickly and effectively extract and aggregate data from all these legal financial systems to offer a “moment in time” snapshot of the company’s legal financials post-merger.
Case Three: A corporation implemented a new legal e-invoicing and matter management system in 2005 but the reporting aspects of the new system are less robust than they expected. SpectoWise can address issues with their existing systems as well as substantially augmenting what they originally hoped for by extracting data from all of their existing in-house and outsourced system and analyzing the data in ways not envisioned in the original plan. Their existing vendors are not able to work with this client’s data sources in this manner.
Case Four: SpectoWise met with an insurance carrier that uses Hyperion as a business intelligence reporting tool but they have another problem – they generated plenty of reports, but they have no idea what the reports mean and how best to use them. They asked if SpectoWise can help advise them on to best use Hyperion or SpectoWise’s own data analysis tools to better utilize the data they already have and reports they are already generating.
All of the above are projects SpectoWise can assist with on a fix-price project basis.
Please get in touch to see how SpectoWise can help your organization!
Tel. (800) 459-2604
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November 15th, 2006 by SpectoWise
Kerry Sabella, a highly accomplished business and information manager with over 25 years experience in strategic planning, business management and sales support focused in the insurance industry, has joined our Advisory Board. Read more…
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