Insurance Industry​

Data driven enterprise platform

  • Our Client​​
  • Challenges
  • Business-Requirements​
  • Exbi-Data
  • Business & technology impacts​

Our Client​

Client services Independent insurance agents in the state of Pennsylvania, Delaware, and Maryland. The client offered different insurance products and market access to these  Independent agents. Over the period of time client offered an industry-specific portfolio of services that they offered including professional consulting services.

Challenges

The client continued to invest in technology systems that supported their growth of service offerings and also their overall growth of the business.  Unfortunately, this resulted in the portfolio of a technology platform that lacked native inter-connectivity for information sharing and updates.  This resulted in extremely inefficient and very high-cost operations.  This situation directly impacted the overall efficiency of the entire organization created a lack of accountability and impact on customer experience which directly reflected in overall growth and profitability.  

Business Requirements

The business needed to find a solution that would allow them to continue to leverage their investment efficiently and continue to grow their business and profitability.

Solutions

ExBi Data

Noema reviewed the operational processes and supporting technologies and their limitations that were causing inefficiencies.  It was identified that different systems had a unique data management and hence it was not possible for them to interact with other systems and create a cohesive ecosystem. 

Noema create a common data platform integrating each of the business functions,  which also provided dashboards for individual functions as well as an integrated view of the overall business. This resulted in efficient operating procedures with increased productivity and for the first time created an opportunity for individual business functions to support each other in cross-selling services. This provided executive management with increased accountability and flexibility to build data-driven forward-looking strategies. 

Business & Technology Impacts

Effective executive oversite with defined metrics driven management with ownership and accountability

Enhance customer experience and satisfaction

Cross-selling opportunities between independent business functions

Common Database that provided KYC and new product offerings

Reduction in software licensing and supporting infrastructure cost

Latest technology based scalability