delivery from source to solvency ii internal model reduced ......• solvency ii – the regulatory...
TRANSCRIPT
CASE STUDY
www.hcltech.com
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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