Enabling a leading insurance group make better decisions, faster
Company Leading speciality insurance group
Industry Insurance
Overview
Cynozure partnered with a leading speciality insurance group that had grown through acquisitions leading to a complex data landscape.
Business challenge
As part of a wider transformation programme, they are implementing a new policy administration system which will unify multiple legacy systems and provide a modern platform for the business. This also requires a new data and reporting solution that would meet the needs of the key business users, such as finance, claims, and underwriting to enable better insight, decision making and customer experience.
How Cynozure helped?
Cynozure was recommended as a trusted partner by the Head of Data Architecture, who had worked with the team previously. Together with key stakeholders, Cynozure undertook a discovery phase to understand the current systems ‘as is’ and from there build an architectural plan with frameworks and approaches to meet their current and future reporting needs. A crucial aspect of this work was also to help upskill the in-house team and equip them with data engineering best practices.
The outcome
With the project still in flight, Cynozure is continuing to partner with them and has so far driven value by helping them understand the existing and new source systems, the data flows, and the data quality issues that have informed the design & development of the data solution and will go on to support the reporting needs of the business and the operational teams.
The next project
During this piece work, Cynozure were also asked to support on making a back-office process more efficient with an AI proof of concept. With millions of buildings that each need to be classified into standard categories for risk modelling, we worked with the Chief Analytics Officer to apply generative AI to classify buildings. The outcome was that AI proved highly accurate and efficient in this previously manual, time-consuming task and it’s paving the way for additional use cases.
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