Case Study: Data Warehouse and Claims Management Solution for Leading Insurance Provider

Project Timeline: June 2020 – August 2020
Client: Financial Services (Insurance)
Technology Stack: Power BI, MySQL, PostgreSQL, AWS, Oracle

Overview

A major insurance provider aimed to enhance its claims management process and provide a comprehensive, real-time view of ongoing claims to improve closure rates, customer satisfaction, and overall business performance. The goal was to create a centralized data warehouse (DWH) and develop an interactive claims dashboard to streamline claims tracking, optimize resource allocation, and support compliance.

Challenge

The insurance company faced several critical challenges:

• Fragmented Claims Data: Information on insurance claims was spread across multiple systems, making it difficult to get a consolidated view.
• Manual Processes: Claims tracking and reporting required significant manual effort, leading to delays and inconsistencies.
• Data Security and Compliance: Handling sensitive customer information across different teams necessitated secure data management and strict access controls.
• Limited Cross-Sell Insights: The company lacked insights into potential cross-sell opportunities within its existing customer base.

To overcome these challenges, the client required a robust solution that would centralize claims data, automate reporting, secure sensitive information, and enable data-driven decision-making.

Solution

SQL Orbit designed a data warehouse and claims management solution to address the client’s challenges. Using Tableau, the solution provided a suite of interactive dashboards with real-time insights, improving the efficiency and transparency of the claims process.

Key solution components included:

• Centralized Data Warehouse: The data warehouse consolidated claims data from multiple sources, including MySQL, PostgreSQL, and Oracle, into a single repository on AWS, ensuring a unified, accurate view of claims.
• Claims Dashboard in Tableau: A dynamic Tableau dashboard was developed to provide instant insights into ongoing claims. The dashboard connected directly to the data warehouse, offering real-time tracking of claim statuses, response times, and closure rates.
• Secure and Agile Data Access: Flexible permission settings allowed the client to manage data access based on user roles, ensuring that only authorized personnel could view sensitive data. This enhanced compliance with industry regulations while maintaining high levels of security.
• Enhanced Visual Analytics: The agile, visual analytics solution empowered teams to access relevant data quickly, helping them identify cross-sell opportunities, manage risks, and improve customer service.

Outcomes

The implementation of the data warehouse and claims management solution yielded measurable improvements across several key performance areas:

1. Accelerated Claims Closure Rates
   • By centralizing and automating claims tracking, the company improved closure rates by 35% within the first three months, resulting in faster resolutions and increased customer satisfaction.
2. Enhanced Customer Satisfaction
   • With real-time access to claims information, customer service representatives could address inquiries more effectively, boosting customer satisfaction scores by 20%.
3. Improved Cross-Sell Opportunities
   • The availability of cross-departmental data allowed the company to identify new cross-sell opportunities, leading to a 10% increase in revenue from existing clients.
4. Reduced Operational Costs
   • By automating manual tracking and reporting processes, the company cut administrative costs by 15%. The streamlined data access also reduced time spent on claims processing, lowering operational expenses.
5. Enhanced Data Security and Compliance
   • The flexible permissions framework ensured secure, compliant data management, mitigating the risk of data breaches and aligning with industry standards.

Benefits

• Unified Claims Tracking: The Tableau dashboard provided a centralized view of all active claims, enhancing visibility across departments and supporting efficient claims handling.
• Scalable Data Management: Tableau’s tools enabled efficient server management, allowing the client to scale data access as needed without compromising performance or security.
• Improved Collaboration: The solution transformed how insurance data was created, viewed, and utilized across teams, supporting better cross-department collaboration and faster decision-making.