Where are Technological Advances Taking the Insurance Industry ..and It's Actuaries

Transcript

1. Session 44: Where are Technological Advances Taking the Insurance Industry...and Its Actuaries? Business Intelligence Kevin Pledge
2. What is Business Intelligence?  Decision Support Systems  Data Warehouses  Data Marts  Business Performance Management  Technology, applications, practices to:  Consolidate, analyze and present business information Introduction to BI Insurance Issues Questions
3. BI Components Source Systems Data Store Data Warehouse Metadata Integrated Systems Cleansing ETL Extract ETL BI Portal Key is integration: Both tools and data Introduction to BI Insurance Issues Questions
4. BI (general)  Web based interface  Report management  Metadata  Multi-level security  Multiple information delivery methods: pivot tables, KPIs, formatted reports, subscriptions, etc Introduction to BI Insurance Issues Questions
5. Insurance is complex  Long relationship history  Late reporting and changes  Reporting vs study basis  Multiple entities to integrate e.g. policy, client, agent, claims  Detailed information available  BI designed for retail will not fit  Good news is volume is relatively low! Introduction to BI Insurance Issues Questions
6. BI for Insurance  Vision  Sit at any PC, access personal and shared reports that incorporate insurance applications and have the ability to build new analytics  Multistate / Temporal functionality  Embedded Applications – studies, movements, source of earnings, etc  Load Audits  Security – personal data Introduction to BI Insurance Issues Questions
7. Multistate / Temporal Functionality  State duration queries  Temporal selection queries  Transition detection queries  Integrate multiple entities Introduction to BI Insurance Issues Questions
8. Interface  Variety of users  Variety of report formats Introduction to BI Insurance Issues Questions
9. Thank You / Questions Kevin Pledge President and CEO Insight Decision Solutions www.insightdecision.com kpledge@insightdecision.com Introduction to BI Insurance Issues Questions
10. ETL (Extraction, Transformation and Loading)  Graphical – easy to follow  Modular, but not replacement for DBA skills Introduction to BI Insurance Issues Questions