Desjardins General Insurance Group considered "Exception to the rule"
By user9976532 on Oct 20, 2010
In the October issue of Tech Decisions, Editor-in-Chief Bob Hyle discusses the challenges of data projects in the insurance industry in the article "Data Saving the Day for Insurers". Most insurers do not need to be reminded what an arduous task a data project can be. As a matter of fact, these projects are so overwhelming that insurers continue to push them off, only complicating the issue down the line.
However, Desjardins General Insurance Group is noted as an exception to this rule. They are tackling their data head on with the help of Oracle Insurance Insight. Sonia Sevo, vice president of the business intelligence competency center at Desjardins, says that data mastery and business intelligence is a huge project that needs to be thought of in a more focused manner. "You have to have the 'think big, do small' approach," she says. "That's easier said than done when you are establishing a new environment with data as complex as it is in the insurance industry."
Sevo attributes Oracle Insurance Insight with achieving the "think big" part of their project. Because the product was built for the insurance industry, her team just has to focus on the configuration variations that occur at Desjardins.
The article further describes how insurers should approach their data projects as a business process. Deb Smallwood, founder of the research and advisory firm SMA, Strategy Meets Action offers some pointers on approaching your data cleansing strategy.
To read more about how Desjardins is excelling and tips to succeeding in your data mastery project, read the article here.