25% Cost Savings through Data Transformation for Insurance Reporting

Client

The client is one of Belgium’s largest insurance firms, offering a diverse range of solutions across multiple brands and distribution channels, specializing in property and casualty insurance (motor, home/fire, and family policies/public liability), health/provident insurance, and life insurance/pension savings. The client faced challenges in managing fragmented data systems and outdated reporting processes, highlighting the need for comprehensive enterprise data transformation to streamline operations and enhance decision-making.

Challenge

The client envisioned building a predictable Business Intelligence (BI) organization with end-to-end data delivery capabilities that could consolidate disparate reports into a unified enterprise-wide view. The key objective was to design a future-ready data platform capable of orchestrating activities and integrating various applications required for data design, production, and delivery.

Following multiple business acquisitions and mergers of diverse insurance systems, coupled with rapid technological advancements, and the influx of vast amounts of data from multiple sources, the client sought focused and integrated Business Intelligence solutions. These solutions needed to unify fragmented reports into a single, cohesive view while driving automation across the overall process.

Business challenges

• Lack of a unified enterprise data model.
• Fragmented data consumption across multiple siloed systems.
• Datamarts designed for business reporting rather than being architecturally sustainable.
• Resource-centric delivery model without alignment on a common goal, resulting in inconsistent outcomes.
• DataHub’s ODS data model was incompatible with business reporting and control requirements.
• Business departments struggled to align their reports with the available DataHub structure.

Solution

Hexaware implemented an enterprise data transformation program by reengineering the Business Intelligence Competency Center (BICC) using a factory-based approach. This approach centralized and streamlined data acquisition, preparation, reporting, analytics, dashboards, and insights to ensure effective control and coordination of information consumption across the organization.

We developed a modular framework encompassing data provisioning with a flexible architecture, data governance with robust execution and knowledge management, and data optimized for reporting and analytics. By consolidating all BI change, run, and reporting services, we identified and eliminated bottlenecks and established a delivery-focused, governance-enabled, agile and highly scalable BI organization.

Benefits

The implementation of the new system yielded significant improvements in cost efficiency, data management, and reporting capabilities, enabling the organization to make more informed decisions and enhance overall performance. Key benefits include:

• Achieved approximately 35% cost reduction through consolidation and automation
• Configured DataHub and Datamarts for commercial and personal lines, covering Bound and Quotes data.
• Delivered market Intelligence reporting on DataHub using SAS DI, EG.
• Provided intuitive and user-friendly reports for better decision-making.
• Customized ETL processes to meet unique (non-OOB) business requirements.
• Implemented end-to-end automated reporting with stage-wise traceability for seamless data reconciliation.
• Enabled business reporting with delivery of 15+ Datamarts offering unified insights into operations and commercial performance, powered by Guidewire DataHub.

Summary

Hexaware enabled a leading Belgian insurance firm to achieve 35% cost savings through enterprise data transformation for insurance. By consolidating fragmented systems, automating reporting, and implementing a scalable BI framework, Hexaware delivered 15+ Datamarts, intuitive insights, and streamlined operations, empowering the client with unified, traceable, and actionable business intelligence.