Case Study
Insurance Industry
Our Client
Our client services independent insurance agents across Pennsylvania, Delaware, and Maryland. The client provides a variety of insurance products and market access to these agents, plus professional consulting services.
- Challenges
Over time the client made a number of investments in technology systems to allow them to better serve their customers and grow their business. Unfortunately, these investments were not made with a larger strategy in mind for how all the pieces fit together. This resulted in a collection of disparate systems that lacked native interconnectivity for data sharing and reporting. This resulted in extremely inefficient and very high-cost business processes, negatively impacting the company’s profitability and ability to serve customers. Ultimately the client was no longer growing and were drifting towards negative profits.
- Business Requirements
The business was looking for a solution that would allow them to leverage the investments already made in technology, but in a way where those systems could share data and seamlessly report across platform. This would allow them to streamline operations, better serve their customers, and return to profitability.
Solutions
ExBi Data
Noema reviewed operational processes and supporting technologies to find limitations that were causing inefficiencies. It was determined that different systems managed data differently making it difficult to integrate with other platforms.
Noema created a common data platform that could be shared across business processes, independent of the system in use. Not only did this ease data management challenges, reducing duplication and errors, it also provided reporting capabilities like dashboards for individual functions, as well as an integrated view of the overall business. This resulted in efficient business processes with increased productivity, and for the first time allowed business functions to support each other in cross-selling services. All this provided management with increased accountability and flexibility while enabling the achievement of the business strategy.
Business & Technology Impacts
- Cross-platform reporting allowed executives to monitor key metrics and make more effective business decisions.
- Newly possible cross-selling capabilities provided new revenue streams and allowed the business to grow faster.
- Having a unified set of data allowed the client to have a better view of their customers, providing better services and growing those relationships.
- The cost of software licensing and infrastructure was reduced, increasing profitability.
- The revised technology landscape provided better scalability far into the future, without throwing out investments that had already been made but weren’t being fully utilized.
