Building data capabilities while establishing best practices for compliance and governance
When one of the world’s largest life insurance providers spun off part of its business—creating an annuity and life insurance company with about 2.8 million policies in the United States, having a sound data, security, compliance, and governance strategy quickly became a top priority.
100+
data sources consolidated for analytics
18
business areas enabled
1
data management center of excellence
Situation
The company’s legacy systems and data architecture were highly complex and strictly regulated, and with tax-sheltered annuities set to expire, rapidly enabling capabilities was essential. Business units and functional areas were addressing complexities by using manual data sourcing and consolidation procedures to create end-user reporting. Localized manual reporting solutions using ad-hoc databases proliferated multiple versions of enterprise metrics and attributes, leading to siloed reporting and executive blind spots.
Approach
Cervello worked with the company to establish a day-one enterprise reporting architecture, a long-term vision, compliance and security frameworks, and a center of excellence for enterprise data management governance. We began by establishing a data and reporting baseline, a new post-separation data platform, and a cloud infrastructure. Working closely with the company’s security and compliance teams, Cervello designed and developed a secure cloud infrastructure to support enterprise data and analytics needs. We created data integration pipelines, data models, and the supporting analytics and data security frameworks for a variety of areas, including actuarial, tax reporting, commercials, and underwriting. We also established the organizational frameworks, best practices, development accelerators, and governance models for the company’s data management center of excellence.
Impact
Our team worked rapidly to ensure business continuity after the separation, successfully executing day-one needs for data and reporting. The company now has a single modern, cloud-based reporting platform that enables self-service capabilities across the newly established enterprise. Instead of replicating old ways of working, we helped the company create operational efficiencies by establishing business-focused best practices for analytics, creating more focused reporting on key performance indicators, capturing essential business metrics and additional insights into their customers’ behaviors. The data management center of excellence helped enhance IT productivity, which allowed IT to focus on innovation by enabling business units to follow best practices and established procedures.
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