The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle’s products remains at the sole discretion of Oracle.
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The following is intended to outline our general product ... Insurance Insight 7.0... · Profiles and Identifies customers for target marketing, analyze affinity, ... Segmentation
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The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle’s products remains at the sole discretion of Oracle.
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Oracle Insurance Insight Jamie Richards Sales Consultant Insurance Global Business Unit
End-to-End Insurance Solution
Insurance Application Integration Architecture, Bus iness Process Bus
Database, Fusion, BPEL, Security, etc.
INTEGRATION & COLLABORATION
TECHNOLOGY FOUNDATION
Insu
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Sup
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Customer Communications Management Applications ● Industry Forms ● Policy Issuance ● Client Communications & Claims Correspondence
CRM and Distribution Management
Rating and
Illustration
New Business
and Underwriting
Desktop
Policy Adminis-
tration Billing Claims ERP
Insurance Data Exchange Data Exchange Between Carriers, Distributors and Service Providers
Insurance General Agent System for Brokers and Wholesalers
ORACLE APPLICATIONS
Confidential – Internal Only
• Insurers ( all lines ) require a centralized transactional insurance dat a warehouse (IDW) to support multiple processes • Eases the multiple same-type source system issue • Centralizes and normalizes data for simple analytic consumption across lines • Provides operational data structures for key core systems (– PAS, Claims,
Rating/Quoting, Billing, Underwriting, etc…) • Insurer’s are consistent in their desire for a centralized transaction warehouse
structure that can be utilized by any analytic application
• Analytic needs require separate expertise due to li ne specifics and technology needs
• Leverage Middleware to attack specific IBI App needs (OFSAA for Solvency II, Data Mining for Fraud)
• Adhere to overall Insurance BI Architecture to permit conformity across IBI Apps.
• Specific Insurance BI (IBI) Applications needs: • Customer Profitability • Fraud • Distribution and Underwriting • Solvency and Risk • Pricing
Technology Needs and Requirements Customers require multiple specific applications an d centralized data
• Offer complete insurance data warehouse platform ba sed on core Oracle Tech (ODI, OBIEE, Exadata, 11g DB)
• Standalone warehousing solution for Life, Health and P&C not an EDW • Componentized and can be made an appliance • Provide logical and physical data models comprehensive in scope as consolidation
creates need • Keep IDW logically separate for integration, simplicity, history and extensibility needs • Address markets for Life, Health and P&C while conforming across segments • Can be utilized to provide operational analytics for each source
• Offer targeted Advanced Analytics as separate BI Ap ps to complement IGBU application footprint:
This slide is intended to outline our general produ ct direction. It is intended for information purpos es only, and may not be incorporated into any contr act. It is not a commitment to deliver any material, code, or functi onality, and should not be relied upon in making pu rchasing decisions. The development, release, and t iming of
any features or functionality described for Oracle’ s products remains at the sole discretion of Oracle .=
P&C 7.1
2012 2013
1. Transactional Reporting 2. Integration w/ P&C and
Life warehouses 3. Full Adaptive DM support 4. Quote support 5. Claims support
Health 1.0 Life1.0
1. Transactional Reporting 2. Integration w/ P&C and
Health warehouses 3. Full Adaptive DM support 4. Quote/Illustration support
1. Maintenance Release
P&C 7.0.1
1. Quote/Rate Models 2. Workflow Mart
Structures 3. Repository Updates 4. Endorsement
Reporting
P&C 7.0.2
Oracle Insurance Insight for all Lines Roadmap and Initiatives w/ Full Investment
Key Insurer BI Pains Old Systems, Slow Methods and Varied Needs
confidential
Oracle Insurance Business Intelligence and Analytic s Analytic activities supported by Oracle Insurance I nsight data model
LOB Management
Policy/Product Dev
Executive Management
Underwriting
Claims Reinsurance
Channel/Marketing/Agent
Management
Insured Base
Profiles and Identifies customers for target market ing, analyze affinity, reasons for attrition
Monitor and inform channels of market changes to attain more business
User Roles, Preferences Simplified View Logical SQL Interface
PRESENTATION LAYER
Dimensions Hierarchies Measures Calculations Aggregation Rules Time Series
SEMANTIC OBJECT LAYER
PHYSICAL LAYER
Map Physical Data Connections Schema
Role-Based Views of the Information Relevant to the User
Consistent Definition of Business Measures, Metrics, Calculations
Model Once, Deploy Everywhere
Across Any Data Sources
Common Enterprise Information Model Enables Consistency, Security, Reuse, Flexibility
ARCHITECTURE AND ADAPTIVE DATA MODELING
Oracle Insurance Insight for General Insurance 7.0
16
The “BI Development Quandary” Why is it so difficult?
• Separate entities or people responsible for each item • Business analyst: Requirements • Data Modelers: Modeling • ETL Developers: ETL
• Report developers: Reports
• Projects can take years and fall short of expectations
• Models don’t match business • ETL is difficult to maintain and
doesn’t represent business practices
Insurance Business Intelligence
Environment
Business needs can get lost in translation among each entity
The adaptive approach
The 80/20 Rule in Insurance
of an insurer’s data structures are similar to every other insurer
80%
varies greatly between insurers
20%
The 20% What differs insurer to insurer
• Product Definition
• Rating/Underwriting
• Lines of Business
• Channels
• Marketing
• Business Processes
• The Data
Configure Reports
Configure Dashboards
Developer Developer
Develop Data Mart ETL
Develop Warehouse ETL
Develop Physical Model
Establish Requirements
Business User
Power of Adaptive BI Contrast Between Traditional & Adaptive Models
Developer
Develop Logical Model
Consume Reports
Consume Dashboards
Business User System
Auto Generate Data Mart ETL
Auto Generate Warehouse ETL
Auto Generate DB Structures
Define LOB
Business User
Power of Adaptive BI Contrast Between Traditional & Adaptive Models
Consume Reports
Consume Dashboards
Business User System
Auto Generate Data Mart ETL
Auto Generate Warehouse ETL
Auto Generate DB Structures
Define LOB
Business User
Configure Reports
Configure Dashboards
Developer Developer
Develop Data Mart ETL
Develop Warehouse ETL
Develop DB Structures
Establish Requirements
Business User
Developer
Perform LOB Data Modeling
Power of Adaptive BI Contrast Between Traditional & Adaptive Models
Consume Reports
Consume Dashboards
Business User System
Auto Generate Data Mart ETL
Auto Generate Warehouse ETL
Auto Generate DB Structures
Define LOB
Business User
• Fits the business immediately • Faster upfront and future implementation • Eases testing and deployment • Allows for “what-if” BI development • Easy updates to existing infrastructure
Power of Adaptive BI Contrast Between Traditional & Adaptive Models
Oracle Insurance Industry Issues and Analyst Views
Confidential – Internal Only
Source: Celent Analysis 2009
Top Business Issues for Insurers
Ways for Carriers to:
• Grow premium revenue : • Expand the product line • Build new distribution channels
• Optimized existing distribution channels
• Be more profitable :
• Controlling cost • Build straight through processing
• Outsource business & technology services
Top Business Issues
BI is a Top Project
What Analysts are Saying ...
"One of the biggest challenges for insurers in impl ementing business analytics has been the lack of adequate data models and repositories. Solu tions that are designed to deal with the complexities and unique characteristics of insuranc e data can help insurers address these challenges." –Matthew Josefowicz, Novarica, Customer Insight, BI – Insurance & Technology, Nov 2008
"In a time when insurers will be carefully watching every IT dollar, investment in data mastery solutions will stand out as an opportunity for both short-term gains and long-term strategy.." –Jeff Goldberg, Celent, Insurance Data Mastery Strategies, November 2008
The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle’s products remains at the sole discretion of Oracle.