Zenith Insurance boosts performance using insights from data

SAS® improves data quality and processes leading to better and more efficient decision making about customer claims

Zenith Insurance, a specialist in the personal insurance market, has improved business performance through more efficient use of its data after investing in technology from business analytics leader SAS. The company is now able to support the reporting and analytical needs of nearly four times as many people in the business that require access to this information.

A team of eight employees previously supported the demands of 80 people using the data, such as claims handlers, salespeople and management, whereas today a team of just 12 support more than 300. Not only is the process more efficient but improvements in reporting mean the business is able to make better decisions about how it handles claims, such quick approval to improve customer experience or further investigation of possible fraudulent behavior. Users across the business quickly recognized the benefits of the new, easy-to-use system, which is now part of their day-to-day activities. The team initially used SAS to build their own reports without the help of management information, but now the same documents are built automatically, saving time and resources.

When Markerstudy acquired Zenith Insurance, the company was faced with the challenge of bringing together more than five disparate data systems into a single, user-friendly platform. A clear strategy and auditable structure was also necessary to prepare for upcoming Solvency II regulations. Working with Achieve Intelligence and SAS, Zenith brought all the company’s data into a SAS® enterprise data warehouse, a unified platform designed with IT and business collaboration in mind. Improved data quality helped streamline reporting and, most importantly, offered management a clearer view of the business, giving it the confidence to make decisions knowing the information was accurate.

“As we expanded our business, it was important for management to have a good overview of how the different lines of business were performing at a group level,” said Jason Cabral, Group Head of Pricing and Management Information at Zenith Insurance. “A siloed structure with disparate data sources slowed decision making and did not allow us to analyze data at a granular level. SAS has been instrumental in helping us achieve a more accurate view of our data, allowing us to move faster and be more competitive.”

“In a sector as competitive as insurance, it’s crucial that companies have access to up-to-date and accurate customer and pricing information in order to make better and quicker decisions, and help push into new markets,” said Mike Pell, Executive Director of SAS UK and Ireland. “It’s encouraging to see companies like Zenith nurturing a data driven culture that empowers teams, drives efficiency and supports business growth.”

SAS® solutions deployed by Zenith Insurance:

  • SAS Data Management is a unified platform designed with IT and business collaboration in mind. Improved data quality and quick access from a single point of control improves productivity.
  • SAS Enterprise BI Server integrates the power of SAS, role-based interfaces and Microsoft Office, empowering staff to make fact-based decisions
  • SAS® Enterprise Guide® is a point-and-click, menu- and wizard-driven tool that empowers users to analyse data and publish results.

Learn how to expand the use of predictive analytics in claims.

About Zenith Insurance

Zenith Insurance plc was acquired in January 2010 by Markerstudy. Zenith Insurance Management UK Limited provides distribution, claims and administrative support. Markerstudy Group’s insurance arm also includes Markerstudy Insurance Company Limited plus supporting company Markerstudy Limited. Markerstudy Group was named 11th and won the ‘Giving Something Back’ award at The Sunday Times 100 Best Companies to Work For list 2014. St Julian’s is the MFSA regulated insurance company writing EL/PL classes for the group. The following brands operate within the Markerstudy retail division: Blagrove Insurance Brokers, Caterer’s Club, Equesure, Insurance Choice, Insurance Factory.com, Insurance Factory Commercial, Insurance Shop, Mobilers, The Insurance Factory and Thames City Insurance, all of which offer value and choice to a wide range of customers. Lancaster Insurance Services, Sureterm Direct, Delta Underwriting and BDML Connect are the four most recent businesses, acquired from Capita Insurance Services in November 2013. It also acquired specialist insurance broker and claims administrator Supercover in July 2014 The group also encompasses Auto Windscreens, which was acquired in February 2011, TCW Group, acquired in June 2011 and Vision Vehicle Solutions Limited, purchased in December 2012. www.markerstudy.com

 

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