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  • 2013 IBM Corporation

    Benefits of Industry DWH Models -Insurance Information Warehouse

    Roland Bigge

    02.11.2013

  • 2013 IBM Corporation2

    Agenda

    Introduction to Industry DWH Models

    Business Drivers, Challenges and Opportunities

    Insurance Information Warehouse (IIW) Details

    IIW Value Proposition

    Annex

  • 2013 IBM Corporation3

    Core Components of Industry Models

    Data Models provide a structured data dictionary that defines the business terms and the resulting Business Intelligence data structures

    IndustryData Models

    Process Models provide pre-defined analysis-level processes, used to ensure consistency and reuse of processes and activities within the Financial Institution

    IndustryProcess Models

    Service Models provide the pre-defined analysis and design level structures to enable more consistency and reuse in the creation of Services

    IndustryService Models

  • 2013 IBM Corporation4

    Reduces analysis and design of functional requirements by more than 40%

    Accelerates stakeholder approval by 50%

    Supports on average 85% of data requirements

    Reduces time and addresses risk compared to custom-built projects by helping to

    reengineer processes to comply with regulatory requirements.

    Increases ROI by

    Identify opportunities to streamline and outsource processes and be more

    responsive to customers.

    Reduce time-to-market with new products, such as online portfolio

    management.

    Integrates a merger and legacy systems more quickly.

    Facilitates a reliable mechanism for information availability across the organization

    such as customer data integration.

    Business Value of Industry Models

  • 2013 IBM Corporation5

    Agenda

    Introduction to Industry DWH Models

    Business Drivers, Challenges and Opportunities

    Insurance Information Warehouse (IIW) Details

    IIW Value Proposition

    Annex

  • 2013 IBM Corporation6

    Lower Cost of Data The costs of

    managing and

    providing data are

    high and growing

    Worker Productivity

    Cost cutting is

    reducing staffs to a

    level that puts

    pressure on meeting

    requirements

    Prioritization

    Carriers need to focus

    attention on the most

    profitable customers,

    agents, channels

    Know the customer Carriers lack a unified

    view of their customers across divisions, subsidiaries, etc.

    Optimized Access

    Carriers need to provide a personalized blend of access points to support customers needs

    Take Proactive Action

    Carriers can gain an advantage by being able to predict customers needs and actions.

    Advanced Analytics Across the industry,

    analytics is being applied. Take it to the next level

    Product Management

    Lower premiums may not be enough to secure customers in todays market

    Optimize Distribution Todays customers

    and agents want access on their terms not the carriers

    Solvency II Enforcement of new

    regulations such as Solvency II and other Risk Management Initiatives

    Compliance & Reporting

    Regulatory reforms are creating an increasingly complex reporting & compliance landscape

    Fraud & Abuse

    Reducing fraud, subro-gating losses, and avoiding errors improves results

    Business Challenges Facing Insurers

    1 2 3 4

  • 2013 IBM Corporation7

    Technical and Logistical Challenges facing Insurers Implementation Teams

    1 2 3Terminology Inconsistent use of

    terminology across organization

    No Reference to guide requirements

    Documentation

    Lack of information on data flows / reporting processes

    Audit & Compliance Requirements and

    data now need to be auditable, traceable and repeatable

    Changing Business Needs

    Lack of Standards

    More Data More frequent

    reporting without data quality issues

    Increased granularity not available with current infrastructures

    Legacy Modernization History of deferred IT

    investment provides challenges as new requirements emerge

    Better Design Drive for more

    reusable components rather than one off solutions

    ChangingInformation

    Needs 4Project expertise Projects (e.g. SII)

    require expertise in limited supply

    Limited access to business resources to define requirements

    Cost Management

    Making efficient use of scarce resources

    Leveraging IT spend for multiple projects

    Lack of Resources

    Business Engagement Need for greater

    business validation and engagement during requirements definition

    Business and IT led projects

    Faster Deployment

    Pressure for early deliverables to meet tight deadlines

    Competing Projects Ever increasing range

    of projects (regulations, operational efficiencies, customer insight)

  • 2013 IBM Corporation8

    Agenda

    Introduction to Industry DWH Models

    Business Drivers, Challenges and Opportunities

    Insurance Information Warehouse (IIW) Details

    IIW Value Proposition

    Annex

  • 2013 IBM Corporation9

    What is IBM Insurance Information Warehouse (IIW) ?

    IBMs Comprehensive Enterprise Data Warehouse model for the Insurance Industry

    Built through client engagements over 15 years

    Covers All of Insurance including both Life and P&C/General Insurance content

    Complete set of related models (Business Vocabulary, Business Data Model, Atomic and

    Dimensional Warehouse models)

    Facilitates rapid scoping and specifying of requirements

    Customizable to meet company specific requirements

    Start with one project e.g. Solvency II and then extend to other solutions areas (e.g., SOX,

    IFRS)

  • 2013 IBM Corporation10

    IIW core components includes Business Terms

    Enterprise-wide vocabulary of business concepts that provides an organization's view of itself and its industry.

    Supportive Content Grouping of terms incorporating any

    terminology originating from an internal or external source.

    Analytical Requirements Structured requirements covering

    management information and regulatory needs.

    Business Data Model (BDM) Reference data model ,normalized view of

    insurance business

    Atomic Data Warehouse Model Enterprise-wide data model defines how

    multiple sources of data should be consolidated into a single logical data structure

    Dimensional Warehouse Model Enterprise-wide repository for analytical

    data with star schema style dimensional data structures organized around fact entities

    IIW Data Models

    Data Models

    Vocabulary

    AtomicWarehouse

    Model

    Dimensional Warehouse

    Model

    Business Data Model

    Business Terms

    Analytical Requirements

    SupportiveContent

  • 2013 IBM Corporation11

    Data Models

    Vocabulary

    AtomicWarehouse

    Model

    Dimensional Warehouse

    Model

    Business Data Model

    Business Terms

    Analytical Requirements

    SupportiveContent

    IIW Data Models

    The Vocabulary includes

    Business Terms

    Industry concepts used from day to day in the running of business operations and analysis

    Expressed in plain business language, with no modeling or

    abstraction involved

    Mapped to the Business Model

    The option to link related terms with an alias to let you choose the most appropriate terms in your context

    Used as axes of analysis to define Analytical Requirements.

    Analytical Requirements

    Structured requirements representing the answer to a particular business issue or goal that is identified at top-management level as a business opportunity, based on the analysis of business facts.

    By combining Measures and Dimensions, Analytical Requirements define a specific business opportunity context

    Allow business users to fully articulate the requirements for a piece of analysis using their business terminology.

    Includes regulatory requirements (e.g. Solvency II, IFRS, )

    Supportive Content

    Supportive Content is a grouping of terms incorporating any terminology originating from an internal or external source. It is used to support data structures such as regulatory reports (e.g. IAS/IFRS, Solvency II), industry standards (ACORD, HIPAA, SEPA, SEC US GAAP), business architecture standards (e.g. EPP), vendor interfaces (e.g. SAS, Fair Issac, Sendero, Oracle Financials), or legacy source systems (e.g. Underwriting systems).

  • 2013 IBM Corporation12

    Data Models

    Vocabulary

    AtomicWarehouse

    Model

    Dimensional Warehouse

    Model

    Business Data Model

    Business Terms

    Analytical Requirements

    SupportiveContent

    IIW Data Models

    The Business Data Model includes

    Unambiguous definition of business concepts and their relationships to insure communication across different IT projects and between the business users and the IT

    Conceptual view of the enterprise data with generic definitions to maximize applicability, flexibility, and reusability

  • 2013 IBM Corporation13

    The Atomic Warehouse Model includes

    The enterprise-wide repository of atomic data used for informational processing

    Fully defined logical design of data warehouse structures, with history management

    Partly de-normalized, for ease of navigation and performance

    Data Models

    Vocabulary

    AtomicWarehouse

    Model

    Dimensional Warehouse

    Model

    Business Data Model