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SMACL Assurances Launches Data Governance Initiative to Enhance Service Performance
Technology Category
- Platform as a Service (PaaS) - Data Management Platforms
Applicable Functions
- Business Operation
Use Cases
- Regulatory Compliance Monitoring
Services
- Data Science Services
The Challenge
SMACL Assurances, a mutual insurance association of local authorities, was faced with the challenge of complying with Solvency II regulations. These regulations required the company to maintain high-quality business data to reduce the risk of insolvency. The company was also dealing with redundant, erroneous, and duplicate data within its information systems, which could negatively impact policies, claims, marketing opportunities, customer support, and other essential business processes. The senior managers at SMACL Assurances launched a data governance initiative to improve the accuracy of key data sources. They aimed to go beyond mere compliance with Solvency II and improve the overall customer experience through timely, accurate, and relevant information exchanges.
About The Customer
SMACL Assurances is a mutual insurance association of local authorities established in 1974. The company is based in Niort in Deux-Sevres and currently employs more than 600 people. SMACL Assurances offers warranties and insurance services to local authorities, associations, and individuals. Like many firms in the insurance industry, SMACL Assurances is expected to address redundant, erroneous, and duplicate data within its information systems. Inaccuracies can have a negative impact on policies, claims, marketing opportunities, customer support, and other essential business processes.
The Solution
SMACL Assurances selected Information Builders’ iWay Data Quality Server for their data quality project. The Server includes a data profiling and cleansing engine that validates and corrects information according to predefined business rules. It also utilizes a data quality “firewall” that prevents erroneous data from entering these systems or spreading across the enterprise. The company set up iWay DataMigrator to handle fundamental extract, transform, and load (ETL) procedures, as well as to trigger the controls in the iWay Data Quality Server as data is loaded. It uses the iWay tools to profile the data and detect procedural deficiencies. iWay Data Quality Server generates a log of executions used in internal reporting, and a log of anomalies that data quality stewards use to track corrections. This two-step process ensures integrity throughout the information lifecycle.
Operational Impact
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