SOA, BPM and Event Driven Architecture Applicability to Financial Services Business Issues

1. SOA, BPM and Event Driven Architecture Applicability to Financial Services' Business Issues? Object Management Group San Diego March 27th, 2007 Presented by -- Cindy Maike

2. P&C Insurance Carriers� Claim costs have to decrease dramatically

3. Challenges in claims management

4. The Combined Ratio & the Customer Satisfaction are influenced by a number of indicators

5. Best Practices in claims focus on three key value levers Improve customer satisfaction Improved retention and increased revenues Reduce operational expenses Loss adjustment and Allocated Loss Adjustment expenses Reduce loss costs Indemnity payments Eliminate fraud Reduce leakage Accurate and stabilized reserving

7. Evaluating the Claims Value Chain/Process lends insight into the value levers

8. Could we Instrument the Process for the component metrics based on process events?

9. Evaluating current position � generating event

10. Operational Profiles provide for implementation of specific �business policies� to respond key activities/events Profiles define explicit policy responses to events triggered via model Business rules that should be invoked Specific processes that need to happen Values that make sense for the context Needs to support both internal events (based on model) and external events, such as pending weather

11. Could an Event Repository help drive analytical analysis and lead to the activation of an operating model/profile?

12. Value of Event Modeling Standards � Insurance Industry Modeling for Predictive Analytics leading to autonomic processes Examples of Operational Profiles: Operation Profiles for Catastrophes Enhance Catastrophic Models Seasonal events

13. Discussion, Next Steps��.