Business Intelligence solution for Insurance

Overview

The Insurance Company in the Study is in business for more than 100 years with its Headquarters located in the United States. The company offers a broad portfolio of Life and Specialty Insurance and Investment products.

The challenges we were facing included:
  • Importing financial data from disparate sources and different formats like excel 2002, excel 2007, CSV (comma separated values) and flat file
  • Importing daily transaction data from third party applications like PAM & Bloomberg which are copied to the local database.
  • Generating monthly, quarterly and yearly financial reports that are generated from Cube’s(local database)
  • Follow up with each individual department head to collect data making sure all the required data is copied to folders
  • Parsing data from disparate sources to a centralized database
  • Querying historical data for generating reports was time consuming

The actions we took to address these challenges were

  • We provided a reporting framework solution, to parse the data from disparate data sources to a centralized data warehouse.
  • Rationalized queries using DBA analysis tools to improve performance.
  • Created cubes to generate a multi-dimensional dashboard.
  • Response time for pulling the data from historical database significantly improved
  • Centralized database has been updated with multiple data sources, thus allowing generating of reports with live data
  • MDX queries helped to generate reports in different formats such as weekly, monthly ,quarterly, half yearly and yearly.
  • Improved customer experience