A Swiss Reinsurance Firm Leveraged the Denodo Platform to Launch New Products
Company Size
1,000+
Region
- Europe
Country
- Switzerland
Product
- Denodo Platform
Tech Stack
- Oracle
- Data Vault
- Cloud Computing
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Productivity Improvements
Technology Category
- Infrastructure as a Service (IaaS) - Cloud Computing
- Platform as a Service (PaaS) - Data Management Platforms
Applicable Functions
- Business Operation
Use Cases
- Regulatory Compliance Monitoring
Services
- Cloud Planning, Design & Implementation Services
About The Customer
The customer is one of the oldest and largest reinsurers in the world. The company has offices in more than 25 countries and is one of the Forbes 2000 Global leading companies 2020. The company provides reliable service and support to large insurance companies. Every day, the company’s risk management department needs to be able to account for all applicable risks and calculate potential losses using complex simulations of damage-causing events. The company's risk management department covers the life insurance, property insurance, and investment lines of business.
The Challenge
The risk management department of the reinsurance giant struggled with an increasing number of regulatory requirements, which was reflected in longer lead times and lower customer satisfaction. The department needed a holistic view across all sub-areas of risk in the life insurance, property insurance, and investment lines of business. Over time, the company's traditional data warehouse architecture began to face challenges, particularly in handling the high frequency of new regulatory requirements. The limitations of the company's data warehouse were demonstrated by the long lead times required for every change. The company decided to move its complete data infrastructure, which had previously been hosted on-premises, to the cloud. The new architecture had to provide faster access to data, improved availability, and greater flexibility.
The Solution
The company’s first step was to switch to a data vault model and set up a metadata management system to enable the automation of processes. The next step was to implement a data virtualization solution to improve the ease of data access, and for this, the company selected the Denodo Platform, which it had already successfully employed in the property insurance department. After a short test phase with a proof-of-concept, it was clear to the insurance company that the Denodo Platform should also play a key role in the new architecture for risk management. The Denodo Platform accelerated development and delivered initial results within a very short time. It was able to integrate new data sources within a few minutes, enabling faster feedback loops.
Operational Impact
Quantitative Benefit
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