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Emerging Technologies & Data Management Seminar April 23rd & 24th

Business Intelligence in the Insurance Industry Tom Chesbrough, President & CEO Kapstone Systems, Inc. Emerging Technologies & Data Management Seminar April 23rd & 24th. INSIGHT. KNOWLEDGE. INFORMATION. …management in action. DATA. What is Business Intelligence?.

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Emerging Technologies & Data Management Seminar April 23rd & 24th

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  1. Business Intelligencein theInsurance IndustryTom Chesbrough, President & CEOKapstone Systems, Inc. Emerging Technologies &Data Management SeminarApril 23rd & 24th

  2. INSIGHT KNOWLEDGE INFORMATION …management in action. DATA

  3. What is Business Intelligence? Business Intelligence is a process of assembling disparate data, transforming it to a consistent state for business decision making, and empowering users by providing them with access to this information in multiple views.

  4. Why is it Important? • Data overload • Competition from all sides • A need to “know your customer” • Immediate reaction to marketplace shifts

  5. Pricing Risk Analysis Retention New Business Acquisition Complexity of Information Harness the PowerWithin Complexity Billing Policy Claim Policy Reporting A/P Claim Policy Billing

  6. The Business Benefits of Data Warehousing Better Quality of Data 35% Better Understanding of the Business 20% Exploit New Market Opportunities 15% More Timely Decisions 30% Meta Group Survey of 300 Companies Implementing Warehouses

  7. Six Key Steps to a SuccessfulBusiness Intelligence (BI) Implementation • Step 1: Define business issues and related information requirements. • Step 2: Develop logical and physical architectural models, determine appropriate sources for the required data, and validate accuracy and consistency of data. • Step 3: Assemble the relevant data identified in step two above.

  8. Z-ALERTTM Z-WEBTM Z-QUERYTM Z ALERT A N A L Y T I C A L D A T A M A R T S OLAP (On-Line Analytical Processing) Z-CATTM DATAMART BUILDERTM INSURANCE WAREHOUSETM WAREHOUSE BUILDERTM O P E R A T I O N A L D A T A B A S E S OLTP (On-Line Transaction Processing) Thazar Architecture

  9. INSURANCE WAREHOUSETM Thazar Warehouse Builder Multiple Databases

  10. Lack of Legacy Standards • Unlimited: • formats • structures • attributes • code sets • all within fields • with the same • meta labels! FILE 1 FILE 2 FILE 3

  11. Data Surprises in Individual Fields Meta data -- “What you wish you had in your data values” - Ken Orr Meta Actual Data Values

  12. External Data

  13. Key Steps of a SuccessfulBI Implementation • Step 4: Transform data to a user-focused view. • Step 5: Distribute data where it is needed in the organization.

  14. Desktop User/Managers Multiple Datamarts Thazar Datamart Builder INSURANCE WAREHOUSETM

  15. Heterogeneous Products in Insurance • Multiple Custom Schemas: Month_key Auto_Coverage_key Agent_key Customer_key Policy_key Status_key Written_Premium Earned_Premium Num_Transactions Auto_Limits Auto_Deductibles Other_Auto_Facts Month dimension Auto Coverage dimen Agent dimension Customer dimension Policy dimension Status dimension

  16. Key Steps to a SuccessfulBI Implementation Step 6: Provide users access to data for intelligent queries and business decision making.

  17. Software Agent Software Routine that waits in the background and performs an action when a specified event occurs.

  18. User/Manager Desktop PCs Multiple Datamarts Active Software Agent

  19. THAZAR Z-WEB Internet/Intranet Decision Support • Affordability and Rapid Development • Scalability • Maintainability • Reliability • Security

  20. Internet Decision Support Environment Z-WEB Decision Support Client/Browser Web Server Decision Support Server Data Warehouse Server

  21. For more information onbusiness intelligence for the insurance industry,please contact: Tom Chesbrough or Dennis Lynch 888-KAPSTONE -or- 816-760-5000 marketing@kapstone.com

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