ibids comprehensive bi solution for insurance n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
iBIDS: Comprehensive BI Solution for Insurance PowerPoint Presentation
Download Presentation
iBIDS: Comprehensive BI Solution for Insurance

Loading in 2 Seconds...

play fullscreen
1 / 24

iBIDS: Comprehensive BI Solution for Insurance - PowerPoint PPT Presentation


  • 134 Views
  • Uploaded on

iBIDS: Comprehensive BI Solution for Insurance . Business Intelligence for Decision Support. Insurance Business Drivers. Migrate from fixed to variable costs - both onshore and offshore Drive up profitability / margin

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'iBIDS: Comprehensive BI Solution for Insurance' - nicholai


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
ibids comprehensive bi solution for insurance

iBIDS: Comprehensive BI Solution for Insurance

Business Intelligence for Decision Support

insurance business drivers
Insurance Business Drivers
  • Migrate from fixed to variable costs - both onshore and offshore
  • Drive up profitability / margin
  • Improve distribution & client service levels, segmentation, retention & revenues per client
  • Increase servicing efficiencies & automation and lower breaks/exceptions
  • Address operational risk controls in insurance product manufacturing
  • Ensure all processes are compliant with current and new regulatory guidelines
  • Gain utmost benefit & transparency from existing IT investment & staff
  • Extend efficiencies across supply chain
  • Reduce total claims costs as well as cost of claims operation
business intelligence trends
Business Intelligence Trends
  • BI standardization
    • While BI has been deployed departmentally, IT organizations are driving enterprise BI standards
  • BI to the masses
    • Deploying BI to the “corporate middle class” has started
  • BI meets applications and processes
    • Analytic tools, application package, and integration worlds continue to collide
  • Predictive and applied “inline” analytics
    • ITOs will put a bigger focus on predicting and integrating analytic solutions to solve business problems at the point of interaction instead of providing retrospective analysis

Source: Andreas Bitterer, Gartner Group, Business Intelligence: Trends, Directions and Best Practices, Sep 2006

bi continuum on the way to pervasive bi
BI Continuum: On the Way to Pervasive BI

Analysts/Mgmt.

Strategy

Process

BI Continuum

Measure

Decide

Align

Optimize

Discover

Innovate

Signposts:

IT driving BI

CPM driving strategy

Analytics driving process optimization

BI driving business transformation

Users:

Specialists, analysts

Managers, customers, partners

Operations, point of work

Pervasive

Role of BI:

Passive:

Delivery of information

Linked:

Integrated

plans & analyses

Active:

Intelligent decisions made quickly

Networked & Collaborative:

Constantly augmenting & optimizing performance

Source: Andreas Bitterer, Gartner Group, Business Intelligence: Trends, Directions and Best Practices, Sep 2006

major drivers and inhibitors to pervasive bi

Consumerization of use of information

    • High expectation of ability to use and access
  • Standardization/commoditization
    • Basic BI platform functionality (i.e., reporting, query, dashboards) broadly available & “good enough”
  • Modularization
    • BI functionality becomes more componentized and service-oriented
    • Users and developers can more easily customize
    • Users can add value in pursuit of self-interest
  • Networked collaboration
    • Fosters environment of innovation and contribution
    • Ability to easily share and manage user insights and contributions across wide numbers of users and applications (not just internally, either)
  • Skills
    • Lack of best practices and methodologies to manage a complex and pervasive set of BI capabilities
    • Users can’t understand the analysis and correctly interpret the results
  • Stability and flexibility of business processes
    • Low process maturity
    • Lack of closed-loop process management
  • Silo think
    • Of infrastructure, applications, definitions, rules, calculations, etc.
    • “NIH” syndrome
  • Spreadsheet as information systems “duct tape”
  • Sponsorship
    • Limited vision and perceived business value/impact
Major Drivers and Inhibitors to Pervasive BI

Source: Andreas Bitterer, Gartner Group, Business Intelligence: Trends, Directions and Best Practices, Sep 2006

shift focus from individual projects to bi as core competency

Compliance

EnterpriseArchitects

BusinessSponsor

BIApps.

CPMApps.

CompetencyCenter

EmbeddedAnalytic

ServiceProviders

EmbeddedAnalytic

BIApps.

Shift Focus From Individual Projects to BI as Core Competency
  • Function of BI Competency Center
    • Provide vision and strategy and business plan for integrated BI initiatives.
    • Define standards; establish overall BI applications architecture.
    • Define and manage product portfolio.
    • Program management across business, IT and service providers.
    • Define information standards: data, business rules, governance, quality …
    • Drive competency and consistency via education and support.
    • Make BI into a core competency.

Source: Andreas Bitterer, Gartner Group, Business Intelligence: Trends, Directions and Best Practices, Sep 2006

ibids next generation bi solution for insurance
iBIDS – Next-Generation BI Solution for Insurance
  • Comprehensive enterprise-wide BI platform
    • Data integration and warehousing
    • Data purity and integrity
    • Built-in connectivity to operational data stores
    • Advanced OLAP and Data Mining capabilities
    • Integrated with leading BI front-end tools and technologies
  • Built on “Think Big - Build Step-By-Step” philosophy
  • Provides end-to-end Single view of business
  • Business process KPI driven
  • Rapid Development and Cost Effective

Business Intelligence for Decision Support

ibids key business process coverage areas

Budget/Planning

Market Segmentation

Delinquency Patterns

Cross-sell/Upsell

Customer Segmentation

Fraud Detection

Channel Utilization

iBIDS – Key Business Process Coverage Areas

Business Intelligence for Decision Support

Product Configuration

Campaign Management

ibids solution framework

Logical Infrastructure

Stability, Scalability and Performance

Service

Operational Excellence

OLAP

Data Driven Decision Support

Analytic Models

Towards

“Business Excellence”

iBIDS – Solution Framework

Performance Measurements

Market/customer segmentation

Organizational Planning

OLAP

Targeted Marketing

OLAP

Finance

OLAP

Communication Management

Consistent MIS

Liability cash flow projections

Customer Profitability

EDW LDM

Product profitability

Ad-Hoc Reporting

Compliance Reporting

Investment cash inflow projections

Customer Service

OLAP

Profitability

Meta Data

Reinsurance

Data Quality

Customer

Litigation

OLAP

Prepared Data

Acquisition/Retention

OLAP

Indemnity vs. process

Actuarial

Claims

OLAP

Counts, cost, Open

Renewal/ Retention propensity

Underwriting

Event based reserving models

Product Configuration

ibids solution framework1

Customer profitability

  • Customer LTV (Life time value models)
  • Renewal/ Retention propensity
  • Indemnity vs process
  • Liability cash flow projection
  • Investment cash inflow projections

Predictive

Analytics

Financial

Analytics

Segmentation Analytics

Enterprise iBIDS

LDM

  • Dynamic run time color coding of parties like profitable customers

Risk

Analytics

Behavioral

Analytics

  • Large losses
  • Fraudulent patterns
  • Event based reserving models
  • Demographics and psychographics for cross sell /upsell
iBIDS – Solution Framework
ibids logical data model functional coverage
Customer Analytics

Demographic, psychographic and geographic Information

Customer consolidation and household hdentification

Application, Account details, Financial details, Scoring and Loyalty

Market research / Survey details

Marketing Program

Customer Segmentation for a Promotion

Targeted as well as Event Driven Marketing

Direct / Indirect Customer Responses

Planning and Performance

Cost and Revenue Allocations as well as achievements

Financial details of Organization

Profitability for Organizational hierarchy

Product and Service Management

Product Feature Coverage and Pricing (Actuarial)

Channel Utilisation (including service providers like Hospitals, Medical practitioners)

Profitability

Communication

Proposals, Quotes, Complaints, Queuing

Claim Notifications

Campaign Communication

Customer Contact Management

Web Data Analysis

Risk Analysis

Large Losses

Fraudulent patterns

Event based reserving models

Policy, Claim, Actuarial and Underwriting Analysis

Policy Persistency

Renewal / Retention Propensity

Indemnity vs. process

Reinsurance

Litigation

iBIDS – Logical Data ModelFunctional Coverage
ibids capabilities dashboards encapsulation and rendition of enterprise bi needs
iBIDS Capabilities: DashboardsEncapsulation and Rendition of Enterprise BI Needs
  • Dashboards on key measure
  • Analyze Trends for your key measure
  • Analyze key measure against product category or Rate Plans
ibids capabilities reporting actionable intelligence based on kpis and operational metrics
iBIDS Capabilities: ReportingActionable Intelligence based on KPIs and Operational Metrics
  • Reports and Analytics available on key subject areas
  • Templates available for rapid deployment
  • Templates based on TCS rich Domain Expertise and BI experience
ibids capabilities high end analytics and predictive modeling
iBIDS Capabilities: High-end Analytics and Predictive Modeling

Customers sorted in likelihood to purchase a product

oracle s superior bi architecture designed for business insight and actionable results

Financials

Distribution

CRM

ERP

SRM

Data Warehouse

Service

Planning

Oracle’s Superior BI Architecture Designed for Business Insight and Actionable Results

Competition:

Cost and Complexity

Oracle:

Single, Integrated, Global, Scalable, Real-Time Repository

Purchasing Data

Product Data

SupplierData

ManufacturingData

Transportationand LogisticsData

Demand & Order Data

Pricing Data

Projects Data

Customer Data

HR/HCM Data

Financials Data & Consolidations

and

Daily BusinessIntelligence

ibids value pervasive real time insight
iBIDS Value: Pervasive, Real-time Insight
  • Enterprise semantic model
    • Model centric vs. report centric
  • Pervasive business insight
    • Personalized and embedded information
  • Real-time predictive insight
    • Activity monitoring and predictive analytics
  • Insight driven actions
    • Guided analytics enforce process
  • Standards based architecture
    • Infrastructure integrates with yours
  • Fastest time to value
    • Pre-packaged analytic applications
  • Lowest Cost of Ownership
    • Faster deployment, easier maintenance, less risk

Executives

Managers

Front-lineEmployees

ibids value a comprehensive next generation bi platform

Information Access, Analysis and Delivery Options

Web Services

& Integration

Intelligence

Dashboards

Advanced

Reporting

Ad-hoc Exploration

Proactive

Detection

and Alerts

In-Context

Operational

Insight

Mobile

Analytics

Data

Mining

Marketing

Segmentation

Open Intelligence

Interface

Oracle BI Server

  • Single, logical view of all enterprise data (one version of the truth)
  • Scalable Performance
  • Rich Analytical Capabilities
  • Centralized control, security and visibility

Enterprise Business Model Metadata Services

Intelligent Multi-Level Caching Services

Data Mining Services

Real-Time Decisions Engine

Multidimensional Calculation and Integration Engine

Intelligent Request Generation and Optimized Data Access Services

  • All relevant enterprise data sources

Other

SAP BW

Siebel

OLTP

Oracle

BAW

Enterprise

DW

Department

Data Marts

BackOffice

Multi-dimensional(MDX) Sources

File or XMLSources

Relational (SQL) Sources

iBIDS Value: A Comprehensive Next-Generation BI Platform
tcs bi oracle customers insurance
TCS BI/Oracle CustomersInsurance
  • AIG, USA
  • Aviva, UK
  • AXA, UK
  • Gen Re, Europe
  • Prudential, USA & UK
  • Swiss Re, Europe
  • USAA, USA
slide22
IDC on TCS (2/06)Excerpts from IDC White paper on “Partnering for Successful Business Analytics Projects”
  • TCS has a robust solution implementation methodology with supportive internal business processes
  • TCS develops customizable templates and other reusable assets to replicate client success stories based on industry and technology expertise
  • Dedicated technology centers of excellence ensure that TCS has employees with the proper technical skills, meaningful technology partnerships, and best practices and know-how that are being captured for reuse
idc names oracle business analytics leader for 2005 11 06
IDC Names Oracle Business Analytics Leader for 2005 (11/06)
  • Oracle Named Worldwide Market Share Leader in Business Analytics Software and Data Warehousing Tools (3rd consecutive year)
  • Oracle's Business Intelligence (BI) solutions encompass a comprehensive, integrated set of leading products including packaged BI applications, BI platform infrastructure software, and data warehousing.
  • Oracle was the largest business analytics vendor with 13.1 percent market share and revenues of nearly $2.2 billion for 2005 (IDC, “Worldwide Business Analytics Software 2006-2010 Forecast and 2005 Vendor Shares”)
  • Oracle is the leader in the data warehousing tools market with 19.3 percent market share and nearly $1.9 billion in software revenue for 2005 (IDC, “Worldwide Data Warehousing Tools 2005 Vendor Shares”)
ibids comprehensive bi solution for insurance1

iBIDS: Comprehensive BI Solution for Insurance

Business Intelligence for Decision Support