About the client: These 3 clients are in the mid market Life Insurance and General Insurance segment in India providing Health, Security, Savings and Wealth products.
Business Challenges: Clients wanted to deliver near real-time reporting of their Insurance business to the management. However the Core Insurance applications built on legacy platforms couldn’t’t cater to this requirement, resulting in reports delivered late by up to 48 hours. Additionally there were a host of satellite applications catering to needs of various Channels who data was required on real-time basis.
Solution: Data from Core Insurance applications running on AS/400 along with data from Satellite applications were replicated in real-time using IBM’s CDC technology to a Operational Data Store (ODS).
This new platform:
- Reduced the overhead on the Operational system (AS/400)
- Delivered central repository of enterprise data
- Enabled intra day operational reporting
- Supported downstream application requirements without impacting the source
- Revenue Growth:Improved revenue with real-time data availability for Operational BI
- Cost Savings:Improved Customer Retention, Reduced Churn, Reduced IT spending on Source system upgrades, Reduced data management costs, Reduced batch window from hours to minutes
- Risk: Reduced the risk of the Operational system going down
Technology: Change Data Capture (IBM CDC)
About the client: Top mid market General Insurance company in India providing Health, Motor, and Commercial Insurance.
Business Challenges: Siloed applications, no central data repository, hence business users were finding it difficult to generate their day-to-day reports, had to perform considerable manual work for generating key insurance specific KPI’s. Actuarial users were finding it difficult to consolidate data and generate their models.
Solution: Data from Core Insurance applications running on AS/400 was replicated in real-time using IBM’s CDC technology on to an Operational Data Store (ODS). IBM’s Data Integration tool was used to process and transform the input data and subsequently populate the Star Schema defined in IBM Db2 warehouse. Key reports and KPI’s were developed in Cognos. Real time availability of data in a central place allowed the Actuarial users to build and test their models with very little effort.
- Real-time Visibility:Real-time availability of data from various source systems in ODS with implementation of purpose built data marts
- Revenue Growth:
- Improved tracking of key KPI’s like Revenue Per Policyholder, Average Cost Per Claim, Loss Ratio, Underwriting Speed.
- Implemented Key Predictive Models namely Persistency Report, Customer Churn, Campaign Analytics, Analytics to Predict Surrender
- Self-Service: Business Users able to generate their own reports
- Operations : Reduced IT dependency
Technology: IBM CDC, IBM DataStage, IBM Db2 Warehouse, IBM Cognos Analytics
About the client: Religare Health Insurance (RHI), is an health insurance arm of Religare Enterprises Limited (REL), is a specialized Health Insurer offering health insurance services to employees of corporates, individual customers and for financial inclusion as well.
Business Challenges: The client aspires to become an Analytics Driven organization. They had employed Data Scientists who were enable to perform analysis due to Data Silos. Various applications had been implemented across functions like Life Asia and Group Asia – Core Insurance, MS CRM, Partner Portal, Mobile Apps, Cordys BPM etc. Client wanted to formulate a 3 year strategy for Data Lake and also chose a suitable Cloud Service Provider (CSP) who would provide a comprehensive end-to-end Analytics Platform.
Solution: Alpharithm deployed experienced Consultants to map Religare’s application portfolio and study the information flow. A high-level Hybrid solution architecture was outlined with identification of various key components keeping in mind that client wanted cloud based Analytics. Components from known CSP’s namely AWS and Azure was mapped along side Data Integration tools from IBM and Informatica. Enterprise Catalog capabilities of IBM and Informatica were evaluated to support Self Service. A formalized template to compute TCO for CSP’s was created with various optimization aspects incorporated for cloud components to check the variability in billing. Client was provided with Technical Ratings and Costing comparison for 3 years.
- Future Proof Investment:Help select a CSP who had better Hybrid Cloud capabilities so as to prevent vendor lock-in. Also helped evaluate future roadmaps of cloud services offered
- Cost Optimization:Choice of right type of instances to reduce billing spikes (for example Reserved Instances v/s On-demand), optimizing data movement within cloud, demarcating between short term use and long term use etc
- Improved Governance Processes:Complete control on assets stored in the central repository with added lineage control to track journey of an entity from database through data integration, through Data lake till reports and/or analytical models
Technology: Azure Cloud (Object Storage Gen2, SQL Warehouse, Data Factory, Data Bricks), IBM CDC, IBM Information Server, AWS S3, Aws Redshift, AWS Glue