Comarch Insurance Data Warehouse

Insurance is a data-driven industry

Problem

The insurance business is based on databases. Production systems carefully collect data about customers, policies, claims, and reserves. They allow you to analyze and assess the current involvement of the financial situation in insurance companies. However, operational databases are not prepared for analytical processing. They are designed to effectively operate a number of transactions carried out simultaneously by multiple users. Mobilization of additional simulation and analysis reduces the comfort of database users. On the other hand, except for periodic reporting, insurers need ongoing access to reports and analysis.

Challenge

Analysis and review of the vast amount of information collected over a long period of time in the insurance databases requires the preparation of new, data solutions designed for analysis, to more effectively achieve the planned objectives. The tasks placed before the analytical system is to provide the user (often the managing member of staff or management), with information for analyzing the current situation and making decisions.

Solution

Comarch Insurance Data Warehouse is a data warehouse for insurance companies. The solution provides structured and comprehensive information to support decision making at various levels of insurance management.

Comarch Insurance Data Warehouse is a separate database for aggregating information for decision support. Separated analyses, reporting and production bases allow to use dedicated tools and mechanisms to improve the preparation of databases and analytical data processing. The information stored in the warehouse is collected periodically from systems operating data. While importing data they merge, unify, and aggregate. The solution makes use of OLAP technologies, which allows you to conduct a comprehensive data analysis due to rapid access to multilevel company views.

Comarch Insurance Data Warehouse supports:

• CRM analysis (customer segmentation, campaign effectiveness analysis)
• sales (analysis of distribution channels)
• actuary (reserves, the profitability of the product)
• underwriting (evaluation of risk, damages)
• policies management (premium analysis, operating costs analysis)
• handling damages (loss ratio, analysis of damage trends, analysis of future payments)
• management of investment funds (portfolio analysis, profitability)
• finance management (financial factors analysis)
• human resources management

Business and Operational Benefits:

• reduction of operating costs and improved performance of reporting and analysis
• rapid access to information
• support for sales increase and new market strategies
• improvement of customer service quality