Topdanmark Liv establishes new data warehouse in connection with major modernisation project

Topdanmark Liv is implementing a new policy administration system in cooperation with Schantz as part of its efforts to offer customers new and improved service. Based on the Schantz Life solution, Topdanmark Liv will modernize its key business processes while also updating its basis for reporting. The transition to the new administration system will also impact the existing administrative procedures for reporting; to upgrade and improve these processes, Topdanmark is also drawing on the extensive expertise of SAS Institute.

Once fully implemented, Topdanmark Liv will have an optimized policy system, combined with a comprehensive data basis and a future-proof governance model for the entire business, thereby optimizing the standard reporting processes and enabling the company to react quickly to ad hoc tasks and external enquiries.

“SAS Institute’s standard model for our industry clearly demonstrated their strong understanding and insight into the needs and demands of our industry. Their documented experience from similar projects, combined with their expertise, made us confident in the decision to assign mapping and data processing to them – important components in the modernization of our reporting processes,” says Per Myglegård, Technical Director at Topdanmark Liv.

Data warehouse implementation based on industry insight
SAS Institute conducted an analysis in close cooperation with Topdanmark Liv to identify all reporting and data mapping needs, while also providing a clear indication of the project’s scope.

“In the initial analysis phase, we quickly gained an understanding of the significant costs – and especially the risks – associated with performing the data mapping ourselves,” says Helle Carstensen, head of development at Topdanmark Liv. Therefore, Topdanmark Liv brought in the experts from SAS Institute to assist with further modernization of reporting processes.

By drawing on experts in mapping and reporting for the insurance and pension industry, Topdanmark Liv has taken a very important preventive step, protecting the company from a wide range of challenges frequently faced by businesses that attempt to conduct similar projects on their own.

“An incredible number of data warehouse projects fail, particularly within industries as complex as insurance and pension. There is a wide array of requirements that you must take into consideration and understand in this industry. If you don’t have the full picture when mapping data, you can quickly make essential mistakes that result in wasted resources and, in the worst case, a failed investment,” says Christian Ebbesen, Client Director at SAS Institute.

Because of the complexity of the insurance and pension industry, SAS Institute developed this standard model to ensure the success of modernization projects like that currently underway at Topdanmark Liv – and to prevent costly and resource-demanding errors.

Standard model combined with industry insight ensures agility going forward
Topdanmark Liv decided to include SAS Institute’s standard data model as part of the new policy administration system because of SAS’ industry insight and proven approach. This standard model designed specifically for the insurance and pension industries clearly offered Topdanmark the opportunity to save time and resources in the implementation. As these savings and the partnership of Schantz and SAS Institute met its demands, Topdanmark confidently handed over the reins to this project.

“SAS Institute’s standard model for our industry clearly demonstrated their strong understanding and insight into the needs and demands of our industry. Their documented experience from similar projects, combined with their expertise, made us confident in the decision to assign mapping and data processing to them – important components in the modernization of our reporting processes,” says Per Myglegård, Technical Director at Topdanmark Liv.

In the partnership between Schantz and SAS Institute, Schantz will support the data warehouse by implementing a new solution, Schantz SAS Datamapper, which is being developed in close cooperation with SAS. In this solution, Schantz Life will make data available in a stable format that can be further processed by SAS in the data warehouse. With the help of SAS Visual Analytics, data will be readily available to Topdanmark with a flexibility that allows the quick adaptation and visualization of reports, meaning that data can be easily used by the various stakeholders in Topdanmark Liv. The solution also includes a comprehensive reporting process for data integration, pension data models and dynamic business reporting.

A future-proof platform based on a known and stable data basis
The SAS standard platform for insurance and pension being implemented at Topdanmark Liv will help the company maintain its all-important agility in a highly competitive market where inefficiency can cost dearly. The data warehouse solution will give Topdanmark a foundation based on a known, stable and consistent data basis and a concept model that shortens the path from data to reporting, while also enabling the company to exhibit data in the relevant channels.

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Challenge

  • To deliver better service for its customers, Topdanmark Liv has invested in a new policy administration system. The system optimization has given rise to a need and an opportunity to improve the reporting model. This modernization will help Topdanmark guard against a loss of efficiency and market share to competitors.
  • The existing data and reporting processes needed to be updated and adapted to the new business processes. 

Solution

  • Using SAS Insurance Analytics Architecture (IAA), Topdanmark’s historical data and data from the new policy administration system was implemented into the IAA model.
  • This now enables Topdanmark Liv to provide all relevant data for use by the finance, risk and actuary departments so that they can quickly correct or update existing jobs, or create new jobs.
  • The flexible platform of SAS Visual Analytics also provides great savings in connection with reporting.Benefits

Result

  • Using the standardized model and approach, Topdanmark achieved a flexible implementation that accounted for the common risks and issues in such projects.
  • Meanwhile, Topdanmark Liv’s resource consumption for the mapping and optimization of reporting was reduced to one-third of original estimates by involving SAS Institute in the project.
The results illustrated in this article are specific to the particular situations, business models, data input, and computing environments described herein. Each SAS customer’s experience is unique based on business and technical variables and all statements must be considered non-typical. Actual savings, results, and performance characteristics will vary depending on individual customer configurations and conditions. SAS does not guarantee or represent that every customer will achieve similar results. The only warranties for SAS products and services are those that are set forth in the express warranty statements in the written agreement for such products and services. Nothing herein should be construed as constituting an additional warranty. Customers have shared their successes with SAS as part of an agreed-upon contractual exchange or project success summarization following a successful implementation of SAS software. Brand and product names are trademarks of their respective companies.

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