ibids: comprehensive bi solution for insurance business intelligence for decision support
TRANSCRIPT
iBIDS: Comprehensive BI Solution for Insurance
Business Intelligence for Decision Support
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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
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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
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BI Continuum: On the Way to Pervasive BI
Analytics driving process
optimization
BI driving business
transformationIT driving BI CPM driving
strategy Signposts:
BI Continuum
Networked & Collaborative:
Constantly augmenting &
optimizing performance
Specialists, analysts
Managers, customers,
partners
Operations, point of work Pervasive
Active: Intelligent
decisions made quickly
Passive:Delivery of information
Users:
Role of BI:
Linked:Integrated
plans & analyses
Decide AlignMeasure Optimize InnovateDiscover
StrategyAnalysts/Mgmt. Process
Source: Andreas Bitterer, Gartner Group, Business Intelligence: Trends, Directions and Best Practices, Sep 2006
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Major Drivers and Inhibitors to Pervasive BI
• 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
• 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)
Source: Andreas Bitterer, Gartner Group, Business Intelligence: Trends, Directions and Best Practices, Sep 2006
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Shift Focus From Individual Projects to
BI as Core Competency
BusinessSponsor
CPMApps.
EmbeddedAnalytic
EmbeddedAnalytic
EnterpriseArchitects
Compliance
BIApps.
ServiceProviders
CompetencyCenter
BIApps.
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
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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
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Budget/Planning
Market Segmentation
Cross-sell/Upsell
Campaign Management
Product Configuration
Channel Utilization
Delinquency Patterns
Fraud Detection
Customer Segmentation
iBIDS – Key Business Process Coverage Areas
Business Intelligence for Decision Support
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iBIDS – Solution Framework
Customer Service
OLAP
OLAP
OLAP
OLAP
OLAP
OLAP
EDW LDM
Consistent MIS
Data Quality
Profitability
Communication Management
Underwriting
Organizational Planning Finance
Claims
OLAP
Product Configuration
Renewal/ Retention propensity
Ad-Hoc Reporting
Prepared Data
Compliance Reporting
Meta Data
Product profitability
Logical Infrastructure
Stability, Scalability and Performance
Service
Operational Excellence
OLAP
Data Driven Decision Support
Analytic Models
Towards “Business Excellence”
Liability cash flow projections
Targeted Marketing
Investment cash inflow
projections
Event based reserving models
Indemnity vs. process
Customer Profitability
Market/customer segmentation
Actuarial
Litigation
ReinsuranceCustomer
Acquisition/Retention
Counts, cost, Open
Performance Measurements
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iBIDS – Solution Framework
BehavioralAnalytics
RiskAnalytics
Segmentation Analytics
FinancialAnalytics
PredictiveAnalytics
Enterprise iBIDS
LDM
Enterprise iBIDS
LDM
• Large losses• Fraudulent patterns• Event based reserving models
• Demographics and psychographics for cross sell /upsell
• Dynamic run time color coding of parties like profitable customers
• Customer profitability• Customer LTV (Life time value models)• Renewal/ Retention propensity• Indemnity vs process• Liability cash flow projection
• Investment cash inflow projections
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iBIDS – Logical Data ModelFunctional 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
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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
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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
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iBIDS Capabilities: High-end Analytics and Predictive Modeling
Customers sorted in
likelihood to purchase a
product
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Oracle:
Single, Integrated, Global, Scalable, Real-Time Repository
CRM
Distribution
Financials
ServiceSRM
PlanningERP
Data Warehouse
Demand & Order Data
SupplierData
ManufacturingData
Transportationand Logistics
Data
Financials Data & Consolidations
and
Daily BusinessIntelligence
Purchasing Data Product Data
Competition:
Cost and Complexity
Customer Data
Pricing Data
HR/HCM Data
Projects Data
Oracle’s Superior BI Architecture Designed for Business Insight and Actionable Results
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iBIDS Value: Pervasive, Real-time Insight
Executives
Managers
Front-lineEmployees
• 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
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iBIDS Value: Actionable Insight for All Roles
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iBIDS Value: Actionable Insight for All Users
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iBIDS Value: A Comprehensive Next-Generation BI Platform
SiebelOLTP
BackOffice
SAP BWOracleBAW
EnterpriseDW
DepartmentData Marts
Intelligent Request Generation and Optimized Data Access Services
Enterprise Business Model Metadata Services
Data Mining Services
Intelligent Multi-Level Caching Services
Multi-dimensional
(MDX) Sources
Other
File or XMLSources
Oracle BI Server
Real-Time Decisions Engine
Multidimensional Calculation and Integration Engine
• Single, logical view of all enterprise data (one version of the truth)
• Scalable Performance• Rich Analytical Capabilities• Centralized control, security
and visibility
• All relevant enterprise data sources
Relational (SQL) Sources
Intelligence Dashboards
Information Access, Analysis and Delivery Options
ProactiveDetectionand Alerts
MarketingSegmentation
Data Mining
Mobile Analytics
In-ContextOperational
Insight
Ad-hoc Exploration
AdvancedReporting
Web Services& Integration
Open Intelligence Interface
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TCS BI/Oracle CustomersInsurance
• AIG, USA• Aviva, UK• AXA, UK • Gen Re, Europe• Prudential, USA & UK• Swiss Re, Europe• USAA, USA
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Gartner on TCS Business Intelligence Implementation Services MQ
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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
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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 Insurance
Business Intelligence for Decision Support