Informatica for Insurance

Transcription

1 Informatica for Insurance Solutions that Deliver Value through a Holistic approach Craig Clearwater VP, Financial Services Practice 1

2 Today s Discussion Topics What problems are we addressing? Why focus on Data? Architectural approach Solutions 2

3 3 Problems in Insurance

4 Data is the lifeblood Insurance data can be the biggest asset or biggest liability Insurance is an intangible product whose existence is represented almost solely by data but it is also plagued with extensive legacy data combined with new application data and new channels resulting in inconsistent, incomplete and inaccurate results that create an inability to make accurate business decisions in real time. Insurance companies collect intimate details about it s customers over a long period - but it takes the crossing of several divisional chasms to see it all Market leaders are changing driven by with exemplary self service capabilities made possible by flexible data service architectures Distribution and delivery channels along with a growing 3rd party network are shifting, expanding and collapsing creating a data exchange that is complex, expensive and not responsive with flexible or adaptable. If this wealth of data can be harnessed and used appropriately, the insurance company can make truly informed business decisions to dramatically improve customer service while reducing costs 4

5 The Global Economy and Business Imperatives The wide range of enterprise business imperatives is driving the need to manage data as an asset traditional point solutions are no longer adequate. Business Imperatives Streamline Claims Processing Modernize Business & Reduce IT Costs Facilitate Mergers & Acquisitions Improve Customer Service & Self Service Reduce Risk Expand & Enhance Distribution Network Traditional Approach Hand Coding? = Less for more Data Assets On-Demand Application Database Unstructured B2B SWIFT *Source: Gartner EXP (February 2007) SEPA NACHA HIPAA 5

6 Technology and Service Delivery hairball The root cause of the hairball is complex components implemented in silos that change independently. 6

7 7 Why focus on Data?

8 ICC s are a Growing Trend By 2010 more than 85 percent of very large and more than 60 percent of large enterprises will have one or more integration competency centers. Gartner, 2006 ICCs can save an average of 30% in integration application and data interface development time and costs, and 20% in maintenance costs, and achieve 25% reuse of integration components. Gartner,

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10 10 An Architectural Approach

11 Architecture Blending IT with Business Process Insurer CRS/CRM Policyholder Insured Brokers and Agents & MGS Commercial & Group Distribution Gateway Wireless LAN Line Internet WEB2.0 (Instant message, alerts, blogs & wikis Paper Forms/Mail Customer Portal & 3 rd Party Agent Broker/MGA Portals /Systems Phone/ VRU Fax Calls Insurer Portals /Systems Marketing Customer Insights Development Product Sales & Distribution Mgt Underwriting Management Policy Process Integration Layer Data Integration Layer Application Integration Layer Accounting Financial Enterprise Support Data & Information Storage Collections Billing/ Management Claims Regulatory & Stat Reporting Policy & Premium, Claims & Loss, Financials, Structured, Unstructured, Analytic/Derived & External Data Reinsurers 3 rd Party Gateway Wireless LAN Wireless Line LAN Line Internet Internet WEB2.0 (Instant message, alerts, & wikis alerts, blogs, social networking & wikis State Insurance Commissions & Federal Reg Bodies NCCI, ISO, & Other Regulatory Medical Providers & Other 3 rd Party Services Repair Shops, Inspection, & other 3 rd Claims Service Providers Transactional Operational Dart Marts Data Mines Flat files, VSAM etc Data Warehouse 11

12 12 Delivering incremental value through solutions

13 Solution Areas for Insurance Some pertinent examples for today Claims Processing Channel Gateways Partner Gateways Client Insight Risk 13

14 Our multiple channels, systems and delivery channels are creating high costs and complexity Multiple methods are used today - - -IVANS, transformation station, customized solutions, EDI, different standards, etc. Distribution & Delivery Channels Insulated, Siloed Systems & Data Insurer CSR CRM Systems Commercial Prospect Individual Prospect Phone Calls Paper Forms Phone Calls Consumer Web Site Multiple methods Brokers and Agents Agent Portals Quote System PROPRIETARY AND CONFIDENTIAL Smallwood Maike & Associates. All rights reserved 14

15 Data Gateway for Agents and Partners Agents/Brokers B2B Data Gateway IDQ Data Quality Firewall Work on new offers to extend market share Automate Exhange of various data formats from disparate sources Agents/Brokers Onboard new partners and agents, monitor, Partners customize Less business user time consuming Higher Quality Delivery 15

16 Data Gateway for Agents and Partners B2B Data Transformation Data Quality PowerCenter Agents/Brokers XML Agents/Brokers B2B Data Exchange Partners Partner Managment On-Boarding of new Partners and Agents 16

17 Automating Business Processes Key to Competitive Advantage ref123 Top Tier Insurance Organization IT INITIATIVE: B2B Integration Integration Project: B2B Data Exchange KEY BUSINESS IMPERATIVE Enable Independent Brokers to Access Mainframe Data Modernize multiple mainframe applications, including loss notification and quotation generation Transparently and securely expose core processes to independent brokers ACORD-enable Mainframe applications THE CHALLENGE Provide independent distributors with secure access to mainframe-based core processes Automate Straight Through Processing Leverage IBM SOA infrastructure B2B ADVANTAGE B2B Data Exchange used as part of SOA infrastructure to expose core mainframe programs ACORD libraries and COBOL translation capabilities used to transform legacy data to ACORD formats for use on multiple application platforms Seamless integration with WebSphere Process Server RESULTS/BENEFITS Accelerated time-to-market for the new platform and capabilities Increased agent adoption and retention in a competitive insurance market Enabled migration to SOA 17

18 Featured Insurance Webinar Topic: Insurance Greatest Asset: Accelerate profitable growth in today s uncertain economy by leveraging your data Featuring: Deb Smallwood, SMA Inc & Craig Clearwater, Informatica Time: Available On Demand Register today: 18

19 Thank You! Deb Smallwood, SMA Craig Clearwater 19