Informatica Recognized As A Leader In Delivering Product-Based Solutions Around ACORD Framework

B2B Data Exchange and Master Data Management Reduce Cost and Complexity of Insurance Integration and Accelerate Implementation of 360 Degree Customer Views

REDWOOD CITY, Calif., November 03, 2010 -  Informatica Corporation (NASDAQ: INFA), the world’s number one independent leader in data integration software, today announced that it is the first software vendor to deliver a set of product-based data integration and data exchange solutions around the ACORD Framework, the foundation for next-generation, insurance industry information architectures.

“Informatica embarked on a multi-year strategic initiative around ACORD, bringing together new and mature ACORD standards and award-winning Informatica technology,” said Girish Pancha, executive vice president, Data Integration, Informatica. “Through this initiative, we are taking the lead in providing an enterprise platform and a coherent approach for insurers to take advantage of shared intellectual property available through ACORD. The Informatica ACORD-compliant solution will give customers a single view of customer, product, party and claims data that lets them leverage their ACORD investment.”

The Informatica solutions are based on the Informatica Platform and encompass:

  • Informatica B2B Data Exchange harmonized with the ACORD Information Model (AIM) 
    Informatica B2B Data Exchange is being enhanced to support AIM. This includes enabling customers to produce AIM-consistent data streams for Party, Policy, Contacts, and Physical Objects in a variety of integration scenarios for messaging and storage. It also includes conformance with ACORD Plug and Play Consortium specifications for Life, Annuity & Health (LAH) standards, which is pivotal to further enabling Straight-through-Processing (STP) and Service Oriented Architecture (SOA).
  • Enhanced Insurance Data Transformation Libraries
    Informatica’s extensive insurance industry libraries provide out-of-the-box support for ACORD AL3, ACORD XML (PCS, LAH, RLC), and AIM-consistent data interfaces.
  • Informatica MDM support for the ACORD Information Model
    Informatica offers an ACORD-compliant multi-domain master data management (MDM) solution, with support for the ACORD Information Model. Informatica MDM enables reliable sharing and communication of business-critical information across various insurance applications by delivering an authoritative single version of the truth for policy, product, party, and claims data, as well as providing a 360-degree view of customers across all these data.

“Vendor adoption, participation and use of the ACORD Framework and ACORD Standards significantly benefit our carrier members and the industry as a whole,” said Shane McCullough, Chief Enterprise Architect, ACORD. “We are excited that Informatica is embracing the value of ACORD and has made such significant advancements.”

Available immediately, the new offerings reflect Informatica’s significant ongoing commitment to:

  • Supporting key ACORD working groups and initiatives, including the ACORD Plug-and-Play Consortium working group.
  • Reducing the costs and complexities of insurance industry integration, and cost-effectively enabling STP and SOA.
  • Accelerating the implementation of 360 degree customer views for insurance carriers.

The combination of industry standards enabled by ACORD with enterprise solutions such as MDM is key to accelerating the implementation of 360-degree view of customers for insurance carriers. These customer- and household-centric views are critical to customer retention, lowering customer acquisition costs, and driving new revenues in today’s highly competitive insurance industry. 

“MassMutual adopted ACORD standards as our enterprise-wide SOA standards.  SOA Services, compliant with ACORD, enable us to plug and play, instead of custom building interfaces and continually maintaining them.  They substantially reduce time-to-value and on-going maintenance cost, as well as positioning us to take advantage of cloud computing,” said Ki Nam Kim, Vice President of Enterprise SOA Strategy, MassMutual.   “Informatica’s on-going commitment to deliver scalable ACORD-compliant SOA Services was a key differentiator in selecting Informatica as our MDM partner to provide the 360 degree view of customer to enrich our customers’ experience with MassMutual.”

Informatica‘s ACORD-enabled offerings will be exhibited at the ACORD Implementation Forum in Fort Lauderdale, FL, November 2-5, and at Informatica World 2010 in Washington, DC, November 2-4.

Tweet This: #MDM & #B2B #ACORD Framework Product-based Solutions from @InformaticaCorp Reduce Insurance Costs & Complexity http://bit.ly/9VRkS8 #IW2010

About Informatica

Informatica Corporation (NASDAQ: INFA) is the world’s number one independent provider of data integration software. Organizations around the world gain a competitive advantage in today’s global information economy with timely, relevant and trustworthy data for their top business imperatives. 4,200 enterprises worldwide rely on Informatica to access, integrate and trust their information assets held in the traditional enterprise, off premise and in the Cloud. For more information, call +1 650-385-5000 (1-800-653-3871 in the U.S.), or visit www.informatica.com.

###

Note: Informatica, Informatica MDM, Informatica B2B Data Exchange and Informatica Platform are trademarks or registered trademarks of Informatica Corporation in the United States and in jurisdictions throughout the world. All other company and product names may be trade names or trademarks of their respective owners.

New Study Highlights Integration Imperatives Around Complex Big Data

Aberdeen Report Reveals ‘Big Data is the New Reality’ and How Effective Integration of Complex Data Reduces Costs and Increases Customer Satisfaction

REDWOOD CITY, Calif., August 18, 2011 -  News Facts:
  • Informatica Corporation (NASDAQ: INFA), the world’s number one independent provider of data integration software, today announced the availability of a new research report from the Aberdeen Group that shows how organizations can get the most from their data integration assets in the face of rapidly growing data volumes and increasing data complexity. 
  • Entitled: Future Integration Needs: Embracing Complex Data, the Aberdeen report reveals that:
    • Big Data is the new reality – In 2010, organizations experienced a staggering average data volume growth of 40 percent.
    • XML adoption has increased dramatically – XML is the most common semi-structured data source that organizations integrate. 74 percent of organizations are integrating XML from external sources.  66 percent of organizations are integrating XML from internal sources.
    • Data complexity is skyrocketing – In the next 12 months enterprises plan to introduce more complex unstructured data sources – including office productivity documents, email, web content and social media data – than any other data type.
    • External data sources are proliferating – On average, organizations are integrating 14 external data sources, up from 11 a year ago.
    • Integration costs are rising – As integration of external data rises, it continues to be a labor- and cost-intensive task, with organizations integrating external sources spending 25 percent of their total integration budget in this area.
  • For example, according to Aberdeen, organizations that have effectively integrated complex data are able to:
    • Use up to 50 percent larger data sets for business intelligence and analytics.
    • Integrate twice as successfully external unstructured data into business processes (40 percent vs. 19 percent).
    • Deliver critical information in the required time window 2.5 times more often via automated data refresh.
    • Slash the incidence of errors in their data almost in half compared to organizations relying on manual intervention when performing data updates and refreshes.
    • Spend an average of 43 percent less on integration software (based on 2010 spend).
    • Develop integration competence more quickly with significantly lower services and support expenditures, resulting in less costly business results.
  • Based on these findings, Aberdeen concludes that, as growth in data volumes and complexity accelerates, organizations should:
    • Fully automate the data transformation of complex data (including unstructured data, semi-structured data and XML).
    • Focus on quality assured data exchange (ensure data consistency and accuracy from the point of entry).
    • Consolidate data transformation and exchange capabilities in a single platform to support data warehousing, real time integration and big data scenarios to achieve economy of scale and ensure that the entire integration cycle is automated.
  • The Aberdeen report is based on data collected in June, 2011 from 112 organizations actively engaged in data integration.

Tweet this: New Study Highlights Integration Imperatives Around Big Complex Data http://bit.ly/qdCGcb #bigdata #B2B

Supporting Quotes:

  • “Complex data, including XML unstructured data, and semi-structured data is increasingly used and growing in importance to organizations,” said David White, Senior Analyst, Aberdeen Group. “Aberdeen research found that organizations are making significant investments to harness more complex data from internal and external sources.”
  • “Aberdeen’s latest research underscores how companies benefit from integrating complex data, especially as the Big Data trend continues accelerating,” said Juan Carlos Soto, senior vice president and general manager, B2B Data Exchange and Cloud Data Integration, Informatica. “Informatica’s offerings enable companies to maximize their return on data.  Using Informatica B2B Data Transformation and B2B Data Exchange to efficiently deliver and onboard even the most complex data, customers have reported reducing their partner on-boarding time by 80 percent, lowering their maintenance costs by 90 percent, and increasing their first year revenue by over 8 percent.”

Additional Links

  • B2B Data Transformation
  • B2B Data Exchange

About Informatica

Informatica Corporation (NASDAQ: INFA) is the world’s number one independent provider of data integration software. Organizations around the world turn to Informatica to gain a competitive advantage in today’s global information economy with timely, relevant and trustworthy data for their top business imperatives. Worldwide, over 4,440 enterprises rely on Informatica for data integration and data quality solutions to access, integrate and trust their information assets held in the traditional enterprise, off premise and in the Cloud. For more information, call +1 650-385-5000 (1-800-653-3871 in the U.S.), or visit www.informatica.com. Connect with Informatica at http://www.facebook.com/InformaticaCorporationhttp://www.linkedin.com/company/informatica and http://twitter.com/InformaticaCorp.

###

Note: Informatica, Informatica B2B Data Transformation and Informatica B2B Data Exchange are trademarks or registered trademarks of Informatica Corporation in the United States and in jurisdictions throughout the world. All other company and product names may be trade names or trademarks of their respective owners.