nationwide insurance mis case
Post on 19-Jun-2015
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Presented By: The Learners’ Club
Nationwide Insurance:
Unified Financial Reporting and “One Version of the Truth”
Case Summary
• Nationwide Insurance • Insurance and Financial
Service Co.• In a span of 3 years• Appointment of the trio
• CEO-Jerry Jurgensen
• CIO- Michael Keller
• CFO- Robert Rosholt
Case Summary
• Goal
• Make all BUs successful
• Million $ business Billion $ Business
• Problem
• Scattered Data
• Haphazard Financial Reporting system
• Difficulty in forecast, budget and report
Case Summary
• Solution • Master Data Management (MDM)
• FOCUS (Faster On-line Customer-driven
User-friendly Streamlined)
• Tool sets
• IT Team Leader- Vikas Gopal
• 24-month
• SUCCESSFUL
Source : www.openlinksw.com/dataspace
Motivation
• To understand MDM and Data
Governance
• To check “Unified Version of the Truth”
• Challenge of Big Data
• To fulfill Course Objective
• Question 1• Expertise and Experience of the TRIO
• Proper Planning & Systematic Implementation
• Strict adherence to Project Plan
• Pro-activeness -Change Management
• Question 2 : Difficulties and Scenario• Non-unified, Inconsistent Data Management System• Organizational Growth and diversified data
• Employee Resistance
General Ledger 14
Applications 50
Sources of Financial Data 240
Financial Reporting Language Multiple
No of Employees 36000
• Question 3 : Business Value• Data Consistency, Unification & Synchronization• Data Governance• Accurate Picture of the Co. Whenever
wanted• Time, Effort & Money Saving• Competitive Advantage
Total
Regional
• Question 3 : Examples• Close of Books 30 Days to 19 Days• Installation of Geography-based Reporting Structure• One region to another 9 Months to A few days• Cost of IT• Forecast and Budget (Possible No of Death Claims for
next year)• Goal Achievement $1.1 bn (2005) and $2.1 bn (2006)
Lessons Learned
Nepalese Context
• Is there similar systems in Nepal?• Yes and No
• Similarities • Centralized Data Integration• Data Retrieval System (E.g. CTBN Pumori IV)
• Differences• Scale of Operation (Large Vs Small)• Kalido and Teradata
Nepalese Context
• Recommendations• Insurance Companies in Nepal (E.g. NLIC, Prime
Life Insurance, etc.)• Telecommunication • Banks like (E.g. KIST Bank, Nabil Bank, etc)
• Reasons• Geographical Spread• Scale of Operations
Nepalese Context
• Lessons for Nepal• Understanding by Employees
• Change Management• Nepalese Insurance Company
“I’ve got a very simple system and we’ve been working on this for 15 years. Why are you disrupting my life?
(Employee)...” Roshalt (CFO)
THANK YOU
ANY QUESTIONS
?
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