Data Challenges in Core Transformations...Modern Core Systems Legacy Systems Enterprise Data...
Transcript of Data Challenges in Core Transformations...Modern Core Systems Legacy Systems Enterprise Data...
Core transformation from a legacy system to
Guidewire InsuranceSuite™ is a complex undertaking.
Successful implementation requires the data from both
systems to be brought together in order to produce
meaningful business insight. As such, the core project
inevitably triggers a parallel data project that adds
risk and complexity.
Data Challenges in Core Transformations
Extractthe rich data from the
modern core systems in a business-meaningful way
Consolidatemultiple data models into a unified set of
records
Translatedata from varied
“producer” systems for use in different “con-
sumer” systems
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To meet this challenge, a comprehensive data solution needs to...
Improvebusiness insight
Accelerateproject delivery and
reduce risk
Achieve
long-term sustainabilityby reducing TCO
TCO
The proper data solution should support these business objectives:
Navigating and Consolidating Complex Core System Data Models
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Varied Requirements for Downstream Systems Integration
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The Importance of Building Key Technical Features
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Skills Disparity in “Maintaining” Versus “Developing” Systems
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Choosing the right solution
Two anecdotalD-I-Y use cases
The Challenges of D-I-Y Approaches
A $2b DWP insurer spent$35 million over 5 years
A $175m DWP insurer spent$10 million over 2 years
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DataHub
Modern Core Systems Legacy Systems
Enterprise DataWarehouse
InfoCenter
STAT ReportingOther Systems
(i.e. General Ledger)
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Strategic Foundation for InsuranceSuite Customers
Optimal Division of Labor Between Insurer and Guidewire
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Predefined ETL andData Conformance
Specialized Functions for Data Management
The Advantages of a Product-Based Approach