delivery from source to solvency ii internal model reduced ......• solvency ii – the regulatory...

CASE STUDY

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Modern Application Development

BUSINESS CONTEXT• SolvencyII–TheregulatorymeasurebyEIOPAtoprovidereasonableassuranceto

policyholdersbyensuringthattheEUInsurershavemadeenoughprovisionsintheircapitaltomitigateanyunforeseenlossesthatimpactpolicyholdermoney

• EUinsurershadtoimplementSolvencyIIby2013,andclientwanted,preferably,tobeanearlyadopterofSolvencyII

Objective

• Streamlinedatadeliveryprocessfromsourcesystemstoend

• EnterpriseDatawarehousetoprovideinputforSolvencyIIinternalmodelcalculations

• SetupSingledatasourceforNLFinancedata

• ImproveDataQualityandMetadatamanagement

HCL SOLUTIONApproach

• Clientchosetobuildhome-growndatawarehousingsolutionafterevaluatingoff-the-shelfsolution,asthesourceoffinancialandriskdataweremostlyhomegrown

• ProgramAeMcSwascrystallizedtoaddressSolvencyIIanddataquality

• DevelopadatawarehousetoprovidenecessaryinputforSolvencyIIinternalmodelcalculationsandaddressthe3pillars

Solution:

• ScalableETLframeworkdevelopedtoaccommodatenewsourcesofdataonInformaticadataintegrationplatform

• MetadataMangertoolfordataprofilingandmaintainconsistencyacrossdisparatesystems

Delivery from source to Solvency II internal model reduced to 24hours from 3 to 5 weeks throughput time

CLIENT: One of Top 5 Global life & Annuity Insurer and Financial Service providerfromEurope.

SolvencyIIProjectWonCelentModelInsurerAward

• Databasefordatawarehouse:Oracle

• SolutionforLifelineofbusinessimplementedmid2011

BENEFITSSavings

• DeliveryfromsourcetoSolvencyIIinternalmodelreducedto24hoursfrom3to5weeksthroughputtime

• Newprocessusingthescalabledatawarehousesavedtheeffortof3to4FTE

Data Quality & Compliance

• Improvedtraceabilityledbydocumentationofalldatadeliveredfromsourcesystemtointernalmodel

• Improvedmaintainabilityofdataduetocomprehensivedatadefinitionandbusinessglossaryimplementationforalldataelements

• Highprocesscomplianceandservicedeliveryagreementadherence

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