Complex product structures and complicated legal regulations characterize the controlling of insurances and home-loan banks. Adding to the already complicated scenario are long contract durations and frequent contract changes, often due to the increased dynamics of the contracts. PROMATIS has developed powerful controlling systems for financial service providers. Our experience at this shows that the challenges in regards to scalability and flexibility can only be managed on the basis of systematically constructed Data Warehouses. Such a Data Warehouse contains data, including information about the origin of that data, making sure that the requirements of modern quality management are fulfilled. PROMATIS is using Oracle database technology and customer-oriented online analysis tools from Business Objects, Cognos and Oracle.
Sales Controlling
Especially the sales controlling, focusing on the evaluation of new business, is very demanding in regards to the comprehensiveness of analysis opportunities, and also requires simulation and forecasting features. It is important that all direct and indirect sales channels can be viewed within one consistent system, and that the data is also made available for marketing purposes or the calculation of commissions. Modern sales controlling systems are increasingly open today for external sales partners, giving them access to a multitude of information regarding claims or asset statements via secure Web portals.
Service Data and Data Stock Controlling
The entire range of services can be mapped by a data warehouse, for example enabling the actuary during his/her product calculation, to easily analyze which services have been provided to which customers in which period of time. The Data Warehouse links the service data with the stock data. On this basis, an evaluation of the profitability for product groups or individual products can easily be prepared, also for each single customer contract. The controlling of the data stock also allows for a segmentation, which is needed for targeted marketing activities and for the identification of cross-selling potentials.
Performance Measurement Systems
Tougher market conditions, mostly due to international competitors, and increasingly cost-conscious consumers, cause insurances and home-loan banks today to become real-time enterprises: Conventional controlling-instruments are complemented by informative performance measurement systems. In personalized Web portals, performance figures from various enterprise areas can be visualized in scorecards and dashboards, and can be equipped with real-time alert functions, allowing for an instantaneous reaction towards exceptional circumstances.
Reporting
The Data Warehouse builds the ideal source for the reporting for organizations (e.g. the GDV, which is the association of the German insurance industry, or the association of private home-loan banks) and regulatory authorities (e.g. BaFin, the German federal office for the financial service provider supervision), or also for the data transfer to reinsurers. Special formattings or individual aggregations and selections for such tasks can easily be prepared, just as an automated data exchange (B2B).
Comprehensive Service Portfolio
The PROMATIS service portfolio comprises consulting services, from the preparation of strategies, the design and implementation of the Data Warehouse, the ETL (extraction-transformation-loading)-process in consideration of heterogeneous data sources, to the entire controlling functionality. Turnkey systems and support for the operation and tuning of systems complete the PROMATIS service portfolio. |
