Adamjee Insurance Co. Ltd.

Analytics solution gives near-complete visibility into customer and financial data, increasing profits

Published on 04-Dec-2013

"Insight into our customers and policies helps agents serve our customers better while helping us chase down delinquent policies more effectively and quickly." - Mr. Arif Saeed, Head of IT, Adam jee Insurance Co. Ltd.

Customer:
Adamjee Insurance Co. Ltd.

Industry:
Insurance

Deployment country:
Pakistan

Solution:
BA - Business Analytics, BA - Business Intelligence, Big Data, Big Data & Analytics, Big Data & Analytics: Customers, Big Data & Analytics: Transform processes, Big Data & Analytics: Operations/Fraud/Threats, Data Warehouse, Industry Framework , Information Governance

IBM Business Partner:
Analytics Pvt. Ltd

Overview

Founded in 1960, Adamjee Insurance Co. Ltd. (AICL) offers products and services for fire, marine, health, property, engineering and automobile insurance. Headquartered in Karachi, Pakistan, AICL operates approximately 30 branches across the country and a branch in the United Arab Emirates.

Business need:
The insurer sought an advanced, automated solution that would provide a wide range of analytical and reporting capabilities to give it 360-degree visibility into its operations.

Solution:
This company uses advanced analytics to drill down into customer, policy, sales, finance and claims data across 30 dimensions and 50 performance measures to gain insight into its overall business execution.

Benefits:
The IBM solution helps provide in-depth analysis of customers and policies across several dimensions, tracks late premium payments more precisely and improves data quality across the company.

Case Study

Founded in 1960, Adamjee Insurance Co. Ltd. (AICL) offers products and services for fire, marine, health, property, engineering and automobile insurance. Headquartered in Karachi, Pakistan, AICL operates approximately 30 branches across the country and a branch in the United Arab Emirates.

The Opportunity
This insurer had difficulty monitoring its overall organizational health and performance, because data was stored in separate repositories. For example, its payment system could not efficiently track payments to the appropriate policies or the financial accounts receivable department. Because it could not accurately match its receivables against actual cash collections, unrecovered payments negatively affected the company’s balance sheet and cash flow. The insurer sought an advanced, automated solution that would provide a wide range of analytical and reporting capabilities to give it 360-degree visibility into its operations.

What Makes It Smarter
Large insurers need to know at a glance how their business is performing and how to improve operations to become more profitable. This company uses advanced analytics to drill down into customer, policy, sales, finance and claims data across 30 dimensions and 50 performance measures to gain insight into its overall business execution. With a focus on three main areas — payments and claims, client profitability, and agent performance — analytics help ensure that the insurer properly tracks and follows up on poorly performing policies and losses, and that agents can identify and better serve the most profitable customers.

The insurer now easily identifies data errors, mismatched payments with policies and possible fraudulent activity indicators, allowing it to take quick, decisive action to improve performance. All these improvements ultimately raise the company’s bottom line and customer satisfaction.

Real Business Results
• Provides in-depth analysis of customers and policies across several dimensions, giving agents targeted up-selling and cross-selling opportunities
• Tracks late premium payments more precisely, improving the accuracy of losses recorded on the insurer’s balance sheet
• Improves data quality across the company, identifying and rectifying issues with incorrect, missing or mismatched information

For More Information
Please contact your IBM representative or IBM Business Partner. Visit us at ibm.com/cognos.

To learn more about Adamjee Insurance Co. Ltd., visit
www.adamjeeinsurance.com.

Products and services used

IBM products and services that were used in this case study.

Hardware:
System x: System x3650 M4

Software:
InfoSphere DataStage, InfoSphere Warehouse, Cognos Business Intelligence

Service:
IBM Global Business Services

Legal Information

© Copyright IBM Corporation 2013 IBM Corporation Software Group Route 100 Somers, NY 10589 Produced in the United States of America November 2013 IBM, the IBM logo, ibm.com, Cognos, InfoSphere, DataStage and Global Business Services are trademarks of International Business Machines Corp., registered in many jurisdictions worldwide. Other product and service names might be trademarks of IBM or other companies. A current list of IBM trademarks is available on the Web at “Copyright and trademark information” at www.ibm.com/legal/copy trade.shtml. This document is current as of the initial date of publication and may be changed by IBM at any time. Not all offerings are available in every country in which IBM operates. The performance data discussed herein is presented as derived under specific operating conditions. Actual results may vary. THE INFORMATION IN THIS DOCUMENT IS PROVIDED “AS IS” WITHOUT ANY WARRANTY, EXPRESS OR IMPLIED, INCLUDING WITHOUT ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND ANY WARRANTY OR CONDITION OF NON-INFRINGEMENT. IBM products are warranted according to the terms and conditions of the agreements under which they are provided.