Our client, an international London Market insurer, faced complexity in managing data for policies, premiums, claims, settlements and quotes, which were dispersed across several systems. This resulted in significant manual reconciliation within reporting, as well as a lack of confidence in data accuracy and governance processes. We were asked to conduct a rapid, strategic review and implement improvements.
We engaged with executive stakeholders and end users to structure and prioritise the programme scope, and helped to embed and iteratively improve the new data governance policy. In particular, we helped define, prioritise and facilitate the resolution of risks and issues around data migration, conforming, cleansing and reconciliation. We also helped shape the approach to driving the adoption of the management information (MI) to meet the variety of end-user needs.
We delivered a consistent, comprehensive and easy-to-use suite of dashboards for wholesale and retail insurance, providing the executive leadership team with a holistic view of market performance. Our client now has a single source of truth, allowing them to access and review accurate financials and MI on demand, while eliminating the monthly process of manual reconciliation.
Summary of work
- Rapid strategic review
- Data governance policy
- Drive adoption of MI
- Single source of truth