Enabling Brokers and Insurers to configure and initiate a data migration themselves ahead of renewal. Ideal for Personal Lines with Open Market EDI Schemes. Link to page.
AUTOMATING INSURANCE DATA MANAGEMENT
The insurance industry uses a disparate landscape of disconnected systems to support different processes where data flow is mired with manual workarounds. There are business critical data dependencies between most departments and stakeholders which involve repetitive tasks such as re-keying and managing spreadsheets. Much of which can be automated to improve the accessibility and reliability of data and boost productivity. Giving users more time to concentrate on making decisions and taking action.
Technology is also far more efficient in leaving an audit trail of specific changes made and who initiated them, increasing transparency and traceability to support regulatory demands. It can also easily scale as the business grows – without adding additional staff.
IDS Bespoke Solutions
We are a trusted supplier of data solutions to the insurance industry. Leveraging significant insurance data, system and process expertise, we bridge the business and IT gap with our ability to swiftly understand business user data requirements.
We help our clients overcome the constraints of having data siloed in disparate insurance systems ensuring its in the right format for different processes or reporting requirements.
Our lead consultants are from a software design and development background. We build tailored interfaces and integration modules which give users control to define data quality and business rules and template formats for reporting without having to constantly talk to IT whenever a change is required.
We have developed a range of core components which swiftly consolidate, transform, reconcile, cleanse and improve the quality of insurance data to meet business process demands.
CUE CHECK SOLUTION
IDS have recently developed a CUE Check Solution for a client supporting them in submitting household claims data to the Claims and Underwriting Exchange (CUE) Register to check the information provided and prevent fraudulent claims. CUE Check provides access to the Motor, Home and Personal Injury databases, and DVLA Keeper records.
OUR TAILORED APPROACH
Business Analysis and Consulting
An IDS Insurance expert can help you model your processes and analyse the business case ensuring we develop a solution configured to your specific requirements.
Microsoft SQL/ Modern Web Solutions
IDS build solutions which give users control through modern web enabled applications which use the latest Microsoft SQL server technology.
Hosting and System Maintenance
We can deploy your solution on premise (if you have the infrastructure), or in the cloud. We work with Microsoft Azure, an open, secure and flexible cloud computing platform and infrastructure.
Implementation and Change Management
We will work with business users to ensure their input and buy-in and our support and training will ensure a smooth implementation.
Integration and Development
Our expertise ensures seamless development, migration, integration and testing.
Support and Maintenance
Our support post-deployment is a 24 x 7 x 365 and manned by insurance experts.
IN-DEPTH KNOWLEDGE OF INSURANCE PROCESSES
IDS have gained a wealth of knowledge and experience in supporting insurance experts with BAU activities and delivering bespoke solutions which solve thier problems and boost efficiency.
| Data Migration and Consolidation | Commercial and personal lines data migration success from binder management, underwriting and policy admin systems and proven techniques that ensure EDI / MID personnel lines policies can continue to be processed on new systems. |
| Integration Modules | which migrated client, policy and household risk details between two insurers systems, with the software house being the conduit. The module was compact and easy to use, it was used for a period of twelve months, migrating polices when renewals were due. |
| Rating & Quotation Modules | allowing insurers to enter quotation details for particular lines of business. |
| Polaris Integration | From back-office administration systems. |
| Claims Management Software | Supporting claims handling processes from the point when the claim is raised to settlement. |
| Scheme Management Software | Allowing brokers to create and maintain specialist schemes which they have negotiated with insurers. |
| Risk Link Interface | Reducing operational costs in data manipulation improving the speed and frequency of risk reporting. |
| Data Quality & Governance | Improving address data, fixing input errors and omissions and de-duping of customer, policy and claim records to give a single client view and implementing data governance around underwriting systems ensuring data is accurate and complete. |
| Product Mastering | Created a product library for Product Oversight Group. |
| Compliance MI Reporting | For Solvency II and Conduct Risk Submissions - POG and Board Pack Data Preparation |
| Actuarial Support | Delivering MI to assist Actuaries in reviewing binders. |
| Underwriting Support | Supporting Insurer U/W Management in data quality initiatives and producing management information. |
| Landscape review, system selection and decommissioning |
Reviewed insurer systems and held workshops to discuss how systems could be rationalised. |
| Audit | Worked with clients and FCA auditors to demonstrate compliance and best practice procedures are being followed to ensure accuracy and consistency. |
| ELTO Reconciliation | From numerous underwriting systems with ELTO, to ensure ELTO compliance |
| Catastrophe Modelling / Exposure Management | Improving data quality to provide stable risk and location data for catastrophe modelling, improving geocoding and mitigating the risk of reporting errors |
| Binder Management | Reconciliation between risk and payment bordereaux from Coverholders to recover unpaid premiums. |
| Bordereaux Processing | Improving the business processes and efficiency of both out-going and incoming bordereaux processing. |
| Cue Check Solution | Developed a tool for claims submissions to Experian Cue Check |
| Insurer Marketing Support | Data Enrichment and Data Visualisation Dashboards providing a greater understanding of customer / value. |
TALK TO AN INSURANCE DATA EXPERT TODAY
For further information on our Bespoke Development Services and to discuss you requirements.
We have experience in successfully migrating data to / from most of the major policy administration / underwriting system in the UK and many bespoke systems.
Managing Director, Paul Johnson
