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Make informed and data-driven decisions and transform information into meaningful actions. Turbulent times of saturated markets and new regulations, highlight the importance of the availability of the right information at the right time for the (re)insurance industry.
Insurance DWH model helps you make the right decisions and take appropriate actions that will affect your decision-making process. It provides the basis for quality analysis of available data by deriving accurate information from data. Insurance Data Warehouse Data Model is a standard industry data warehouse model applicable for both life and non-life insurances. Based on data represented in the model, all standard insurance reporting and analysis Data Marts can be delivered.
Insurance DWH model
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Highlights
Based on industry best practices and open for all necessary modifications to adjust to individual customer needs
Based on a strong Primary Key – Foreign Key relationships that assure consistency in the model itself and in the content of the implemented Data Warehouse System
Organizes data around a number of key business subjects
Supports stable decision-making process
Includes a number of most commonly used pre-defined summarizations
Consists of more than 400 Entities (Tables) grouped in 21 Subject areas and divided into 4 functional groups and additional Data Mart, which is derived from the functional groups’ entities
Insurance DWH model
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Benefits
Provides “single version of the truth”
Enables consistent and consolidated reports
Possibility to create a number of datamarts based on the currently existing entities
Delivers competitive advantage by enabling the consolidation of clean data across multiple systems
Supports rapid implementation of warehousing solutions with meaningful data
Facilitates a structured approach to subsequent customization and extension of the data warehouse
Well documented, tested and implemented DWH model
Enables business users to more effectively control and reduce the time taken to scope their requirements, as well as subsequent customization and any extension of the data warehouse
Minimizes development costs
Reduces the risk of failure by facilitating an incremental approach to delivering integrated data warehouse solution
Provides updates to include ongoing data requirements of industry directives regularly
Insurance DWH model
®
Details
ACORD Framework
Insurance DWH model is based on ACORD Framework, which streamlines standards creation and development, provides a base for model-driven development and maintenance of standards, and serves the entire insurance industry. The ACORD Framework consists of five interrelated models (facets) with different views to define the nature of the insurance industry:
- Business Glossary contains common insurance definitions
- Capability Model defines what insurance companies do
- Information Model organizes and relates insurance concepts
- Data Model derives concepts from Information Model into a format used for database design
- Component Model provides the building blocks for custom solutions
- Process Framework provides a workflow-oriented model for implementing insurance processes and messages across an enterprise
- Product Framework is a graphical notation which enables users to quickly, easily, and precisely represent insurance products in a manner that is useful to all levels of an enterprise
- Fosters collaboration and approval between business and IT, as necessary, to turn business requirements into actionable solutions
- Allows the possibility tointegrate data between bank and insurance company in one common data warehouse model
The data warehouse resulting from our model enables insurances to exploit the potential of detailed information previously locked in legacy systems and inaccessible to the business user. PI Insurance DWH Model is a platform-independent solution that offers the scalability and flexibility needed to address existing and future data consolidation requirements.
- Common business functional group subject areas, except for locations
- Customer
- Reporting, business items and KPI's
- Location
- Customer account
- Operational risks
- Product, rates
- Credit protection
- Classification, segmentations
- HR
- Financial subject areas (GL, reporting, OPEX, CAPEX, transactions)
- ETL execution
- Party (individual, legal, entity, OU)
Product framework
We are member of the one of the world’s largest mobile telecommunications companies, with over 133 million customers across 12 markets, which speaks a lot about extent of our needs when it comes to managing our collected data. Ooredoo Algeria recognized Telco DWH model as a model that allowed us to reduce the risk of failure, manage our data better and minimize development cost while at the same allowing modifications that we need when we need them.
– Badredine Allouche, Chef de service DWH
Petrol is a company that operates in several industries; Oil and Gas, Retail and Utility. Different business requirements are challenging to fit to same reporting structures. Retail DWH model is covering most of our important business areas. It is flexible, easy to use and modify so implementation of selected Subject area is quite fast. Subject areas designed in the model are also great reference for Business Analysts when elicitating and structuring business requirements.
– Andreja Štirn, Director business intelligence
We are producing and collecting anenormous amount of data. Implementation of Telco DWH model enabled us to achieve competitive advantage by allowing clean data consolidation across multiple systems, minimized our development cost and helped us transform our business requirements into solution that works best for us.
– Andrija Derežić, CIO at United Group
Telco DWH model has been proven to be flexible and easy to use which enabled faster time to the market of CT products and significantly easier maintenance. It did not require any changes since the implementation few years ago, besides integration with new systems, which is the best indication of its quality.
– Jovana Mihajlovac, Head of Enterprise IT solutions
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Insurance DWH model
®
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Make informed and data-driven decisions and transform information into meaningful actions. Insurance DWH model helps you make the right decisions and take appropriate actions that will affect your decision-making process. It provides the basis for quality analysis of available data by deriving accurate information from data… Download our document and learn how this solution helps your business!
Insurance DWH model® is an exclusive intellectual property of Poslovna Inteligencija. PI grants a nontransferable and nonexclusive right to use the Insurance DWH model®, with delivered customizations and extensions to its Customers who purchased the model.
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