Client
The client is a leading UK-based specialty insurance provider, known for their expert team of highly skilled and experienced underwriters and a balanced, geographically diverse business portfolio. To enhance decision-making and operational efficiency, the client sought to improve user experience by developing a more interactive and insightful insurance underwriting dashboard.
Challenge
The client’s existing insurance data reporting framework relied on SSRS and Datazen, which offered limited interactivity and engagement. Underwriters (UWs) stored crucial customer-related information—such as discussion notes, pricing details, and risk lines—in spreadsheets and personal notes, leading to fragmented data. Additionally, underwriting data, which includes risk profiling, was not being captured effectively, resulting in an incomplete and non-consolidated view of customer exposure and business volumes across different product lines.
Due to these limitations, UWs faced challenges during discussions with brokers and Chief Risk Officers (CROs) as they lacked access to essential customer-level insights. The dashboards primarily delivered policy-level data without a comprehensive view of the customer base or Key Performance Indicators (KPIs) such as product line performance, Estimated Premium Income (EPI), Loss Ratios, and Incurred Claims. This lack of visibility hindered effective decision-making for marketing managers and operations managers, impacting overall business growth.
Solution
Hexaware partnered with the client to address these challenges by building dashboards that provide a 360-degree exploratory view of underwriting customer data. The solution involved assessing existing reports, identifying key business questions, and defining the necessary KPIs and metrics to support UWs in their customer discussions.
Hexaware enhanced the client’s data ecosystem by integrating customer data from Dun & Bradstreet and augmenting it within the data warehouse. This data was then structured into Datamart views for underwriting KPIs.
Additionally, Hexaware’s user experience consultants designed intuitive wireframes, visual elements, and custom icons to ensure an engaging and seamless user experience.
The final insurance KPI dashboard incorporated refined visual elements, including optimized color schemes, fonts, and backgrounds, in collaboration with the client’s marketing team. The solution was deployed through a report server and embedded into SharePoint via iframes, ensuring easy accessibility and usability for end users. This comprehensive approach significantly improved insurance underwriting efficiency and enhanced decision-making for the client’s underwriters and business teams.
Benefits
The comprehensive exploration dashboard generated insights based on multiple measures and dimensions, enhancing insurance data visualization. It also:
- Enabled a complete view of the customer database with enriched data, facilitating cross-sell opportunities.
- Provided enriched information about clients at local, domestic, and global levels from a single screen.
- Improved the ability to negotiate better with brokers and CROs for better pricing and share during renewals.
Summary
Hexaware transformed a UK-based insurer’s decision-making process by developing an advanced insurance underwriting dashboard. Hexaware’s solution enhanced data visualization with a 360-degree customer view, improving negotiations with brokers and CROs. By integrating enriched data and optimizing user experience, Hexaware empowered underwriters with real-time insights, leading to better pricing strategies and business growth.
