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Scyllogis Consulting have been helping customers within the Insurance sector continue to achieve significantly higher levels of business performance from their data management programmes and information systems since 2001. Read how we have worked with some of these customers to achieve significant business results across the world, in our case studies. |
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Insurance organisations today are no more effective at delivering on large-scale data management initiatives than they were 10 years ago. In a recent survey, 70% of the companies said their data management initiatives did not deliver the expected results. That success rate was unchanged from similar surveys conducted in the 1990's. And the environment for data management is only getting more complex.....
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At Scyllogis Consulting all of our consultants have significant experience gained from within the Insurance market. Our people and our culture are our greatest assets. We only select people with relevant experience, intelligence, integrity, passion and the ambition to make a mark and deliver to our Customers the Scyllogis brand values of practical, results based consultancy. Our Consultants are pragmatic and open minded. That is why we deliver solutions that others dont..... Read More
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Tokio Marine Europe Insurance (TMEI). TMEI is the European arm of Tokio Marine and Nichido Fire Insurance Co. Limited and was established to meet the specialised insurance needs of its home country’s exporters trading in Europe.
The Challenge
Tokio Marine Europe offers tailored commercial property, casualty, marine and personal accident/travel insurance solutions to a wide range of business sectors, supported by experienced claims handling and effective risk control strategies. Tokio Marine Europe Insurance Limited (TMEI) was formed as a controlling company for the European operations of Tokio Marine and Nichido Fire Insurance Co. Limited, which is Japan’s oldest and largest commercial property, casualty and marine insurer, and a member company of the Tokio Marine Group.
Through a network of local offices and franchised agents across Europe, TMEI provides a range of insurance products and services in the UK, Belgium, France, Germany, Italy, The Netherlands and Spain. At the end of each month, the agents summarise the transactions that they have completed and pass these on electronically to the company’s back office system – the GENIUS Insurance platform from Xchanging.
GENIUS is a highly configurable system, used extensively across the insurance sector, which has supported TMEI’s activities well over the years. Chris Gordge, Chief Information Officer, Tokio Marine Europe, confirms, “There is a single network across all our offices, which avoids potential problems of integration at that level.”
However, agents were using their own internal systems to produce the “bordereaux statements” submitted to TMEI summarising the transactions handled each month, so the information was not always in the correct format for direct input into GENIIUS.In fact, much of the transaction data was leaving the agents’ systems in Excel spreadsheet format, and had to be converted into a standardised format before it could be integrated with GENIUS. TMEI had no control over the format in which the data was sent.
As a result, a range of bespoke upload solutions had been developed by TMEI. However, with steady growth in the number of new agents, plus other data sources such as a quote management system, each using their own way of delivering data, the number and diversity of these ad-hoc solutions had become unacceptably broad and difficult to manage.
The nature of the conversion process also meant that errors were easily generated, and it took both time and programming resources to eliminate these problems each month with key man exposure. There was also increasing pressure from the financial team to reduce the length of time taken to provide accurate information.
Chris Gordge comments, “Unfortunately, from the company’s perspective, few of the ‘solutions’ in place had been properly documented and the inherent knowledge of those processes rested solely with the staff involved. At the very best, that state of affairs was not in the company’s commercial interests.”
It was clear to TMEI that a more effective solution lay in developing a single environment that could take in the agents’ bordereaux - in whatever format they had been compiled – and convert them directly to a format optimised for GENIUS.
The Solution
In order to ensure that it had access to the necessary experience and resources, without increasing the size of its in-house IT department, TMEI decided to outsource the development of the new interface for the GENUIS application to Scyllogis Consulting.
The new solution needed to interface flexibly with agents’ systems in the field and be capable of extracting data from a broad palette of insurance processing systems. No less important, it would have to be re-configurable in response to changes made both to the agent’s own systems and TMEI’s GENIUS application.
In addition, the solution had to be scalable, so that TMEI could increase the volume of agents’ data without impacting on performance or having to re-design the system from scratch. It also needed to be extensible in the sense that new data structures could be added in order to accommodate future demands for additional information, for example, to meet financial or regulatory requirements. “We would have to identify where the source of the data lay and adapt the feed to extract that additional information,” explains Chris Gordge.
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