Most large insurers and some midsize insurers have made material investments in various forms of Business Intelligence solutions in recent years. The major challenge for these insurers is meeting both operational needs (“what are we doing?”) and analytic needs (“what should we be doing?”).

The challenge is to control the overall cost of the effort and to effectively manage time to value while remaining flexible after system implementation.

Adaptive data modelling is an entirely new approach to doing BI. It automates as many parts of the BI process as possible, while being flexible enough to let business users easily configure those areas which are specific to each insurer.

In this way, insurers can reduce the time and effort involved in BI projects while enabling faster—and better—business decisions. They can gain the insight they seek in order to make better choices that will satisfy their stakeholders, bolster their bottom lines and help them outpace the competition.

The traditional approach leads to BI strategies taking two to four years or more to get off the ground. Adaptive data modelling takes a different approach, in that the configuration and creation of certain parts of the warehouse is automated.

• Line-of-business risk items are controlled by business users, eliminating the circular time-consuming traditional process.
• The IT department has complete flexibility to scale the application appropriately, removing traditional modeling constraints.
• Business users also manage custom modeling, while internal ETL build-out is auto-generated by the warehouse system.

In this scenario, insurers benefit from an out-of-the-box, insurance-specific solution that can be easily configured and re-configured as business requirements change. They can change the way they view the data, adding or changing data elements whenever the need arises.

This simplifies the BI development process, but reduces the number of constituents and, in turn, reduces the chance of human error.

Oracle  has created a data model, Oracle Insurance Insight, which addresses 80 percent of what is core to every insurer—while leaving the other 20 percent easily configurable and definable around risk items.

Oracle’s overall strategy is one of modularization and flexibility, giving business users the ability to configure the application as needed.

By empowering business users in this way, insurers can significantly reduce the amount of time and effort required to implement and maintain BI projects.

More Information

Please visit the Oracle Insurance Insight website.  Learn more by visiting Alamere Insurance.

Contact Us

Please contact Product Manager June Julyan via This e-mail address is being protected from spambots. You need JavaScript enabled to view it. or phone 011 691 1600 for more information and for access to the exclusive Bateleur Oracle Insurance site with flash demos, fact sheets and white papers.