We implemented a platform for a property and casualty insurer that provided monthly profitability updates, which was previously limited or unavailable. With tighter management of claims, the new platform allows for a better understanding of different markets and profitability.
Our client is a successful property and casualty group that acts on integrity, relationships, and performance. They provide premium coverage for hundreds of thousands of individuals in 24 different states in commercial, personal lines, and agri-businesses.
As a midsize regional insurance company with direct premiums of more than $800 million per year, our client has evolved over its nearly 150-year history. Like most insurance companies, the company’s management turned their view towards modernization, initially focusing on core system modernization.
However, the company recently realized that the data systems in place had aged poorly over the span of 30 years and it had misplaced core documentation such as COBOL Copy Books. Employees were reusing common data fields and our client had no clear understanding of the current state of the company’s data. Previously, they had hired a vendor to help build a data warehouse. However, millions of dollars later, none of these issues had been resolved.
Our client partnered with Centric Consulting because of our expertise, industry knowledge, and ability to create solutions with strong production results. The company knew we would create realistic and reliable solutions for misplaced data and documentation.
