The following is intended to outline our general product ... Insurance Insight 7.0... · Profiles...

The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle’s products remains at the sole discretion of Oracle.

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Oracle Insurance Insight Jamie Richards Sales Consultant Insurance Global Business Unit

End-to-End Insurance Solution

Insurance Application Integration Architecture, Bus iness Process Bus

Database, Fusion, BPEL, Security, etc.

INTEGRATION & COLLABORATION

TECHNOLOGY FOUNDATION

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Customer Communications Management Applications ● Industry Forms ● Policy Issuance ● Client Communications & Claims Correspondence

CRM and Distribution Management

Rating and

Illustration

New Business

and Underwriting

Desktop

Policy Adminis-

tration Billing Claims ERP

Insurance Data Exchange Data Exchange Between Carriers, Distributors and Service Providers

Platform Solutions MDM ● Insurance BI Applications ● Compliance ● Enterprise Risk & Performance Management

Insurance General Agent System for Brokers and Wholesalers

ORACLE APPLICATIONS

Confidential – Internal Only

• Insurers ( all lines ) require a centralized transactional insurance dat a warehouse (IDW) to support multiple processes • Eases the multiple same-type source system issue • Centralizes and normalizes data for simple analytic consumption across lines • Provides operational data structures for key core systems (– PAS, Claims,

Rating/Quoting, Billing, Underwriting, etc…) • Insurer’s are consistent in their desire for a centralized transaction warehouse

structure that can be utilized by any analytic application

• Analytic needs require separate expertise due to li ne specifics and technology needs

• Leverage Middleware to attack specific IBI App needs (OFSAA for Solvency II, Data Mining for Fraud)

• Adhere to overall Insurance BI Architecture to permit conformity across IBI Apps.

• Specific Insurance BI (IBI) Applications needs: • Customer Profitability • Fraud • Distribution and Underwriting • Solvency and Risk • Pricing

Technology Needs and Requirements Customers require multiple specific applications an d centralized data

• Offer complete insurance data warehouse platform ba sed on core Oracle Tech (ODI, OBIEE, Exadata, 11g DB)

• Standalone warehousing solution for Life, Health and P&C not an EDW • Componentized and can be made an appliance • Provide logical and physical data models comprehensive in scope as consolidation

creates need • Keep IDW logically separate for integration, simplicity, history and extensibility needs • Address markets for Life, Health and P&C while conforming across segments • Can be utilized to provide operational analytics for each source

• Offer targeted Advanced Analytics as separate BI Ap ps to complement IGBU application footprint:

• Solvency II Analytics and Reporting • Pricing Manager Analytics (Model, Impact, Rate, Analyze – Project MIRA) • Customer Analytics (all lines) • Profitability Analytics (all lines)

Oracle Insurance BI/Warehouse Strategic Vision Mechanized, upgradeable and complete vs. primary co mpetitors

Delivered Planned

2010 2011

1. Adaptive Data Model and WH Palette 2. Oracle Data Integrator Uptake 3. Type I&II SCD uptake 4. Non-Sequential Load 5. Extended Claims Attributes

P&C 7.0

1. Quote/Rate Models 2. Workflow Mart Structures 3. Repository Updates 4. Endorsement Reporting

This slide is intended to outline our general produ ct direction. It is intended for information purpos es only, and may not be incorporated into any contr act. It is not a commitment to deliver any material, code, or functi onality, and should not be relied upon in making pu rchasing decisions. The development, release, and t iming of

any features or functionality described for Oracle’ s products remains at the sole discretion of Oracle .=

P&C 7.1

2012 2013

1. Transactional Reporting 2. Integration w/ P&C and

Life warehouses 3. Full Adaptive DM support 4. Quote support 5. Claims support

Health 1.0 Life1.0

1. Transactional Reporting 2. Integration w/ P&C and

Health warehouses 3. Full Adaptive DM support 4. Quote/Illustration support

1. Maintenance Release

P&C 7.0.1

1. Quote/Rate Models 2. Workflow Mart

Structures 3. Repository Updates 4. Endorsement

Reporting

P&C 7.0.2

Oracle Insurance Insight for all Lines Roadmap and Initiatives w/ Full Investment

Key Insurer BI Pains Old Systems, Slow Methods and Varied Needs

confidential

Oracle Insurance Business Intelligence and Analytic s Analytic activities supported by Oracle Insurance I nsight data model

LOB Management

Policy/Product Dev

Executive Management

Underwriting

Claims Reinsurance

Channel/Marketing/Agent

Management

Insured Base

Profiles and Identifies customers for target market ing, analyze affinity, reasons for attrition

Monitor and inform channels of market changes to attain more business

Critical component of claims management, helps fraud detection, monitoring, claims estimation

Analytics provide crucial information that cements relationships with clients, provides insight to cost overruns and profitability possibil ities.

Complete overview of strategic business indicators

Improves product development and book of business understanding

Premium

Base Premium • Cancelled Premium • Earned Premium • Effective Premium • Expired Premium • Future Written Premium • Inforce Premium • Processed Premium • Retained Premium • Written Premium

Paid and Recovery Amts

Combined Paid • Combined Expense • Combined Loss and

Expense • Combined Loss and

Recoveries • Combined Loss, Expense

and Recoveries • Deductible Recovered • Salvage Recovered • Subrogation Recovered Paid Amounts • Loss • Allocated Expense • Unallocated Expense

Ratios

Premium Ratios • Cancelled to Written • Earned to Written • Inforce to Written • Premium Renewal

Retention Paid Ratios • Combined Paid Loss • Paid Loss • Expense

(allocated/unallocated) Reserve Change Ratios Incurred Loss Ratios Expense Ratios Exposure Ratios

Example Oracle Insurance Insight Metrics

Possible Dashboards/Reports built from core metrics

Underwriter • Average Premium per

policy • Exposure Summary • Premium Summary

Production • Claims by Producer • Premium/Loss by

Agent/Agency • Written Premium

Claims • Claims in Subrogation • Claims counts • Claims by Adjuster • Reserve Summary

Actuary • Loss Triangulation • Loss vs. Premium • Premium • Reserve

Incurred Amounts

Combined Incurred • Combined Expense • Combined Loss and

Expense • Combined Recovery • Combined Los and

Recovery Incurred Amounts • Allocated Expense • Deductible • Loss • Salvage • Subrogation • Unallocated Expense

Oracle Insurance Native Insight Metrics


Oracle Business Intelligence Enterprise Edition (OBIEE) w/ OII

Overview


Pre-built Dashboards and Measures Insurance-Specific BI

• LOB Analytics • Loss • Premium • Ratios • Counts • Line of Business

Attributes • Guided Analytics • Visual Indicators • Statistical

Functionality


DASHBOARDS &

REPORTS

• Prebuilt best practice library

• “One size does NOT fit all”

SUBJECT AREAS

• Many metrics and dimensional attributes created ad hoc versus prebuilt dashboards and reports

• Endless possibilities • Incremental work to build exponentially more content from this foundation

More than just dashboards and reports Value of Oracle Insurance Insight lies under the su rface

Smart Office Access Dashboards and Scorecards

13

Interactive Analysis

Any Interaction Style

Drill anywhere visualization

Published Reporting Page-Oriented, High Volume, Pixel-Perfect

Secure Integration with Microsoft Office

Role-based and Personalized

Proactive Alerts, Mobile Access

Drive BI Pervasively Across Your Enterprise

Push BI to email and mobile devices

Guided Analytics Enable greater analysis success

BI Drives Business Processes Intelligence-driven business processes

BPEL, ESB Oracle BI

FPO

In-Context Insight Embedded in OLTP Applications

14

15 Copyright © 2008, Oracle and/or its affiliates. All rights reserved. 15

User Roles, Preferences Simplified View Logical SQL Interface

PRESENTATION LAYER

Dimensions Hierarchies Measures Calculations Aggregation Rules Time Series

SEMANTIC OBJECT LAYER

PHYSICAL LAYER

Map Physical Data Connections Schema

Role-Based Views of the Information Relevant to the User

Consistent Definition of Business Measures, Metrics, Calculations

Model Once, Deploy Everywhere

Across Any Data Sources

Common Enterprise Information Model Enables Consistency, Security, Reuse, Flexibility

ARCHITECTURE AND ADAPTIVE DATA MODELING

Oracle Insurance Insight for General Insurance 7.0

16

The “BI Development Quandary” Why is it so difficult?

• Separate entities or people responsible for each item • Business analyst: Requirements • Data Modelers: Modeling • ETL Developers: ETL

• Report developers: Reports

• Projects can take years and fall short of expectations

• Models don’t match business • ETL is difficult to maintain and

doesn’t represent business practices

Insurance Business Intelligence

Environment

Business needs can get lost in translation among each entity

The adaptive approach

The 80/20 Rule in Insurance

of an insurer’s data structures are similar to every other insurer

80%

varies greatly between insurers

20%

The 20% What differs insurer to insurer

• Product Definition

• Rating/Underwriting

• Lines of Business

• Channels

• Marketing

• Business Processes

• The Data

Configure Reports

Configure Dashboards

Developer Developer

Develop Data Mart ETL

Develop Warehouse ETL

Develop Physical Model

Establish Requirements

Business User

Power of Adaptive BI Contrast Between Traditional & Adaptive Models

Developer

Develop Logical Model

Consume Reports

Consume Dashboards

Business User System

Auto Generate Data Mart ETL

Auto Generate Warehouse ETL

Auto Generate DB Structures

Define LOB

Business User


Consume Reports

Consume Dashboards





Define LOB

Business User

Configure Reports

Configure Dashboards

Developer Developer

Develop Data Mart ETL

Develop Warehouse ETL

Develop DB Structures

Establish Requirements

Business User

Developer

Perform LOB Data Modeling


Consume Reports

Consume Dashboards





Define LOB

Business User

• Fits the business immediately • Faster upfront and future implementation • Eases testing and deployment • Allows for “what-if” BI development • Easy updates to existing infrastructure


Complete Dimensional Customization Warehouse Palette

The Warehouse Palette allows the configuration of dimensional attributes about which you want to describe and report on your data.

Dimensional Customization Align to your business


• Enables configuration of line-based dimensions

• Dynamically add dimensional entities

• Auto-generate ETL

• Extends to reporting

Warehouse Palette

• Out of the box templates/content for LOBs • Commercial Property, Auto, etc… • Personal Property, Auto, etc…

• Configurable • Content is likely to be starting point for general

insurer’s to develop their own content.

Pre-Built Lines of Business Pre-built content vs. configuration

Reduced Cost of Ownership Value of Oracle Insurance Insight lies under the su rface

ETL & Mapping

IDW Design

IDW Metrics &

Aggregations

Data Marts

Dashboards

ETL & Mapping

IDW Design

IDW Metrics &

Aggregations

Data Marts

Dashboards

ETL & Mapping

Implement

Oracle

Tweak

Application

Oracle Insurance Insight Benefits

• Faster Time to Market

• Lower TCO

• Assured Business Value

Single LOB Custom Build

Oracle Insurance Insight

Quarters or Years Months or Weeks

Oracle Insurance Insight Data Model and Data Design

Interface Definition Engine Warehouse Definition Engine Mart Definition Engine

Line Templates (Pre-Built Lines)

Warehouse Palette (create new attributes, change at tributes)

Calculation Engine

Data Marts

OI Insight OBIEE

Repository

Oracle Insurance Insight Architecture Modular, Extensible, Adaptable, Complete

Relational

Transaction Model

Policy Source

Policy Source

Claim Source

Claim Source

Policy Interface(s)

Policy Interface(s)

Claim Interface(s)

Claim Interface(s)

Operational

OBIEE Operational, Analytical, Regulatory Reporting

OBIEE Operational, Analytical, Regulatory Reporting

Advanced Analytics Advanced Analytics

DATA WAREHOUSE

Insight IDW Insight IDW

Delivery Zone

Reference Insurance Architecture and Data Flows

8 April, 2011

Reception MDM

Integration

PRESENTATION

Policy Policy

Claims Claims

CRM CRM

Billing Billing

Source Extracts

Source

Extracts

Customer

Master

Common

Keys

Rules

Modeling

Fraud

Solvency II

Product

Segmentation

Campaign

Extracts (ODI)

Enterprise Services (SOA Suite)

Insight Interfaces

Logs, Errors

Data Quality

And Profiling

Integration

Data

Quality

Data

Quality

Insight IDW and IBI Apps Insight IDW and IBI Apps

Claim

Common Keys

ETL (ODI)

Analytic Engines

Quote

Rating

Closed Loop BI

CPM/BSC

Customer

Quoting Rating

Quoting Rating

3rd Party Data

3rd Party Data


Oracle Business Intelligence Enterprise Edition (OBIEE) w/ OII

Overview


Pre-built Dashboards and Measures Insurance-Specific BI

• LOB Analytics • Loss • Premium • Ratios • Counts • Line of Business

Attributes • Guided Analytics • Visual Indicators • Statistical

Functionality


DASHBOARDS &

REPORTS

• Prebuilt best practice library

• “One size does NOT fit all”

SUBJECT AREAS

• Many metrics and dimensional attributes created ad hoc versus prebuilt dashboards and reports

• Endless possibilities • Incremental work to build exponentially more content from this foundation

More than just dashboards and reports Value of Oracle Insurance Insight lies under the su rface


Oracle Insurance Insight 7.0 Data Model Overview


Insight Insurance Data Warehouse (IDW)

• Logical and Physical Models

• Developed using SQL Data Modeler

• Any Relational DB Platform

• Party-based for ultimate flexibility

• Transaction Level (Atomic)

• All Policy Transactions • All Claims Transactions

• Pre-built content supporting Standard LOB

• Adaptive Data Model allows for any GI line


Data Mart Overview

• Summarized Data

• 150+ Predefined Metrics • 70+ Dimension Tables

• LOB or Subject Specific • Policy Transaction Mart • Claim Transaction Mart • Monthly Aggregate Line

Specific Marts • Generic Aggregate

Marts • Corporate Detail • Claims


Technology Uptake and Globalization

• Oracle Database 11g • Spatial • Real time decisions • Mining • Exadata

• Oracle Data Integrator 11g (ODI) • Scheduling • Validation • Warehouse palette

• OBIEE 11g • Enhanced reporting • Visuals

• Multi-Currency • Globalized

DEMONSTRATION Oracle Insurance Insight

Dimensional Customization Align to you business


Warehouse Palette

• Enables configuration of Line based Dimensions



Warehouse Palette


• Dynamically add dimensional entities




• Dynamically add dimensional entities Warehouse Palette • Auto-generate ETL


Oracle Insurance Insight 7.0 Prebuilt Overview


Easy Access to Data Customization and data access at every level

Measures from physical columns from any data source can be mapped directly into the OBIEE repository, creating an even richer reporting environment

Aggregations, time series calculations and derived calculated measures can extend physical measures fo r specific reporting needs

Only a subset of possible logical measures are expo sed in presentation layer

Not all measures in presentation layer used in repo rts & dashboards

Metrics in Logical Layer

Metrics in Logical Layer

Metrics in Physical Warehouse

Metrics in Physical Warehouse

Metrics in Subject Areas

Metrics in Subject Areas

Metrics used in

Reports & Dashboards

Metrics used in Reports &

Dashboards

IDW Overview

• Model Details • Flat File data entry • Complete Staging Warehouse • Transaction Level (Atomic)

• All Policy Transaction • All Claims Transactions

• Developed using Oracle Data Modeler • Any Relational DB Platform

• Supported Lines: • Commercial Auto • Commercial Property • Homeowner’s • Personal Auto • Dwelling Fire

• Aggregations: • Earned Premium Transactions • Earned Exposure Class Transaction • Exposure Class Transaction • Earned Exposure Coverage

Transactions • Exposure Coverage Transaction • Claim • Claim Expense • Claim Daily

• End of Month Snapshots: • EOM Policy • EOM Commercial Policy • EOM Claim Occurrence • EOM Claim Occurrence Claimant

Litigation


APPENDIX A Screen Shots


Oracle Insurance Industry Issues and Analyst Views


Source: Celent Analysis 2009

Top Business Issues for Insurers

Ways for Carriers to:

• Grow premium revenue : • Expand the product line • Build new distribution channels

• Optimized existing distribution channels

• Be more profitable :

• Controlling cost • Build straight through processing

• Outsource business & technology services

Top Business Issues

BI is a Top Project

What Analysts are Saying ...

"One of the biggest challenges for insurers in impl ementing business analytics has been the lack of adequate data models and repositories. Solu tions that are designed to deal with the complexities and unique characteristics of insuranc e data can help insurers address these challenges." –Matthew Josefowicz, Novarica, Customer Insight, BI – Insurance & Technology, Nov 2008

"In a time when insurers will be carefully watching every IT dollar, investment in data mastery solutions will stand out as an opportunity for both short-term gains and long-term strategy.." –Jeff Goldberg, Celent, Insurance Data Mastery Strategies, November 2008

The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle’s products remains at the sole discretion of Oracle.

The following is intended to outline our general product ... Insurance Insight 7.0... · Profiles...

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Transcript of The following is intended to outline our general product ... Insurance Insight 7.0... · Profiles...