We are thrilled to introduce the latest milestone in our commitment to data excellence: Data Warehouse Models Insurance Model Version 2.1. This upgraded model is introducing a new functional group called Risk. The risk domain, vital for organizations across industries, includes diverse data modules important for understanding and managing risks. The Risk SA (Subject Area), updated Business Glossary and KPIs list acts as a comprehensive reference point, providing insights into risk types, analysis, and mitigation strategies.
What’s New in Version 2.1:
- Expanded Coverage: Now with 27 comprehensive insurance subject areas
- Over 100 Key Performance Indicators (KPIs) for in-depth analysis
- A Rich Business Glossary: Over 260 essential insurance terms
- Extensive Data: More than 430 entities (tables) corresponding to your business processes
- In-Depth Insights: Offering an impressive 5,230+ attributes (columns)
- Enhanced Data Integrity: Leveraging 1,410+ keys for comprehensive data validation
In an era where data drives decision-making, data warehouse models have become the backbone of effective data management, especially in the insurance industry. These models are not static entities but rather dynamic frameworks that must adapt to evolving challenges.
This is why we included a completely new subject area to our Insurance Data Warehouse Model. The Risk subject is the answer to the evolving regulatory landscape.
Risk can take many forms, from financial and operational risks to regulatory and data security risks. The key to survival in a data-driven world is not merely collecting and storing data but also managing it in a way that safeguards your organization’s stability and reputation.
Regulators closely examine investment portfolios supporting insurance reserves, emphasizing solvency monitoring and offshore reinsurance transactions to curb potential regulatory arbitrage. Consumer protection remains crucial, with the implementation of robust internal controls and meticulous record-keeping.