The third largest Property and Casualty (P&C) Insurer in the US was facing challenges in managing its data and BI solutions. They wanted to optimize their operations across 35 lines of business.
They had 35 lines of business, each with its own hierarchy and unique reporting lines
Inefficiencies in the data change process due to disintegration between the legacy systems and new technologies
Information in multiple versions stored in disparate data silos
Large volumes of organizational data reaching close to 10 terabytes
Lack of clarity and accountability for managing the complete delivery of the BI project
Senior management had no basis for evaluating the return on investment (ROI) for the BI solution
Collaborated to define KPIs and core parameters.
Conducted infrastructure analysis to guide strategy.
Optimized ETL processes for efficiency.
Prepared for future regulatory changes and M&A impacts.
Centralized data warehouse, reduced data volumes.
Empowered analysts with a self-service portal.
Implemented balanced scorecards with KPIs.
Utilized Power BI for flexible self-service reports.
Addressed hierarchy issues using OLAP.
$2.5 Million in savings per year realized from cost and process efficiencies
20% increased productivity among claims representatives
Reduced turnaround time for new scorecards to less than 5 days
30% process improvement in 3 months
Data synchronization across all business lines
Brought down total volume of data to 6 TB with efficient data archiving strategy
100% Adoption of Performance Scorecards
