Reinsurance – Stop Loss
Ensure data stability throughout the entire life cycle
In collaboration with
We started with the need to govern and orchestrate our very large mass of data, with data from heterogeneous systems and environments. Irion made it possible to orchestrate them more effectively and, most importantly, to document in a uniform, dynamic, and consolidated manner
Giuseppe De Filippis
BI & Data Analytics Coordinator
Customer since
2020
Requirements
Mitigate insurance risk and data volatility
Stop Loss is a form of reinsurance that protects the balance sheet of an Insurance Branch: it serves to limit the financial impact of adverse trends or areas of risk that are uncontrollable or unpredictable. The Client’s main pain point was related to the fact that the comparative management of the Sales Account and Advances Account resided on Excel and not on a database, exposing the data to non-negligible volatility risks.
Getting data to speak
Managing a mass of incoming information from heterogeneous systems
Harmonized data sources
Integrate data that speak different languages, in different user areas.
One platform
A layer to more easily manage orchestration and data governance
More intuitive UI
Have a more user-friendly user interface for end users.
Challenges
Complexity and heterogeneous data
Increase in contracts
Over time, the number of contracts managed has increased significantly
Volatility risk
Despite the growth, the process had remained unstructured
Decentralized controls
Located in individual environments and applications
Solution
Data Quality, Data Governance and Reporting to ensure data stability throughout the lifecycle
Capabilities
Some of the Irion EDM features used:
- Process Automation
- Web Dashboard
- Integrated Development Environment (Agile Development, Version Management, Intellisense, etc.)
- Transformation & Generation
- DataShelfTM (Generic Data Model, Dynamic Definition, Multi Storage Area)
- Integrated Active Directory & Users Group & Privileges
Results obtained
- Ability to govern heterogeneous data streams, ensuring their integrity and overseeing propagation in institutional databases.
- Uniqueness of access points, eliminating steps that employed individual productivity tools, such as spreadsheets.
- Integration and constant reporting alignment.
- More intuitive and user-friendly interface for end users.
- Flexibility and availability of advanced features for project development.
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