Insurance

P&C Insurance Analytics

An analytics platform to help P&C insurance giants optimize insurance strategies.

Client: US platform provider for P&C insurance companies, brokers, agents and construction companies

The Problem

With programs and projects worth over $100 billion being executed, administrators were losing visibility of process blockages in the sheer amount of data. Identifying on-site hazards, fraudulent insurance claims and efficient insurance packages (Workers Compensation & General Liability) required complex calculations — and at this scale, even a fraction of a brokerage led to million-dollar savings.

Challenges

  • Migrations from other vendors left buggy data requiring thoughtful cleaning
  • Source database issues identified in the first phase of implementation
  • High accuracy expected even in case of noisy data
  • All data types — including dynamic JSON — crammed into SQL Server, slowing it down
  • A poorly designed data layer questioned the scalability of aggressive sales growth

Solution Design & Implementation

01

Data Lake Architecture

With data growing at 3x pace within a year, a central lake handled high volumes of semi-structured data alongside relational data.

02

ELT with Snowpark

Raw data loaded into Snowflake on top of an AWS S3 data lake, with Snowpark transformations keeping everything inside the Snowflake ecosystem.

03

Cloud-Based, Cost-Aware Architecture

A big data architecture on the cloud giving business users easy access — and saving costs during non-operational hours and quiet business periods.

Architecture

Sources

Salesforce

Insurance Platforms

SQL

Broker & Agent Systems

Semi-structured

Construction Site Data

Historical

Legacy Vendor Migrations

Ingestion & Integration

Raw Load to Cloud Storage

Cloud Data Lake & ELT

AWS Cloud Platform

Transformations

Snowflake

Snowpark

In-Snowflake Transformations

Data Zones

Raw Zone (S3)
Cleansed Zone
Analytics-Ready Zone

Consumption

Power BI Dashboards

Fraud & Claims Analytics

Orchestration & Monitoring

ELT Pipelines

Results

  • Significantly lesser contract closeout time
  • Paperwork eliminated across insurance processes
  • Reduction in insurance frauds
  • Increase in sales leads

Future Plans

Data Lake Expansion

Load and process data from other applications into the central data lake for 360-degree analytics.

Central Analytics

Convert all static OLTP reports to analytical dashboards on the enterprise data warehouse.

Analytics as SaaS

Sell analytics as a product — the dashboards uncovered business problems clients were unaware of.

Data Governance

Governance policies, standardization practices, and compliance, security and auditing.