Client overview:
The client is a global insurer operating in 54 countries across North America, Europe, Middle East and Africa, Latin America and Asia Pacific. They write commercial, specialty, personal, life, accident and health lines of business.
Challenges:
The client has embarked on several digital and automation initiatives to drive agility, experience, and efficiency. There was a need to have holistic insights on the impact to business performance due to these initiatives.
The current reporting framework was mostly manual and comprised of pre-generated reports in excel, PDF and PowerPoint, thus there was a need for automation and self-service in the reporting process.
The current KPIs did not establish the cause-and-effect relationship between initiatives and various levels of business performance. Also, there was a need for acceptable standardization of dashboards and KPI frameworks across geographies and business units.
Solution:
- The program started with a consulting exercise to understand the current state of reporting, defining a standard KPI framework, creation of scorecards for executive personas across operations, claims, customer experience, digital, and automation functions. Additionally the engagement also created a UX design for executive dashboards and defined a prioritization across 15+ business units globally.
- The consulting phase was followed by a design phase for the prioritized business units, during which the requirements for KPIs were designed, source systems and existing data lakes were analyzed for mapping to KPIs, and reporting data models were designed to feed into the dashboards and a selection of tools for implementation.
- Post the design phase, the implementation was carried out in agile methodology. The key callouts in implementation are:
- Agile approach to incrementally realize the KPIs for the identified business units
- Ingestion of data from the source systems into the data lake – where required
- ETL process from the data lake to reporting data stores designed for each of the business unit
- Dashboards bult on visualization tools
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