LUMIQ Modernizes Data Analytics with a Cloud-Based Data Warehouse for a Leading Life Insurer
For a major Indian life insurance provider with over 2.5 million customers, meeting the organization’s reporting and analytics needs was essential for strategic decision-making. However, fragmented data across various silos created inefficiencies and delays.
Challenge
The existing data warehouse setup relied on a legacy DB2 system, making it difficult to generate multiple reports daily. Data inconsistencies and the lack of a unified reporting standard hindered timely decision-making, while manually handling over 350 reports increased the risk of inaccuracies. Without industry-specific KPIs, the organization struggled to standardize performance metrics across departments.
To modernize reporting and improve operational efficiency, the company needed a robust, centralized data platform that would consolidate data, automate report generation, and enable consistent KPI tracking.
Solution
LUMIQ migrated the insurer’s legacy DB2 data warehouse to a robust cloud platform, building a data infrastructure capable of supporting real-time and near-real-time processing. This centralized data platform aggregated information from multiple sources, streamlining reporting workflows and reducing the dependency on manual data handling.
To address the need for industry-specific metrics, LUMIQ deployed an insurance-tailored data model and developed a Reporting Mart layer, automating the generation of over 350 reports. The data mart architecture facilitated self-service BI capabilities, enabling departments to independently access and analyze trusted data, while automated dashboards provided a clear, real-time view into key business metrics.
LUMIQ’s design allowed the insurer to implement a unified, reliable KPI tracking system across all departments, ensuring data consistency and enabling quicker, more accurate decision-making. The scalable solution allowed the organization to adjust rapidly to new data needs, ultimately enhancing customer experience and operational efficiency.
Impact
- 80% Reduction in Manual Reporting Efforts: Automated reporting significantly reduced the time required for report generation.
- 150% Increase in Net Promoter Score (NPS): Standardized data enabled better customer interactions.
- Reduced Report Generation TAT: Faster, more efficient access to accurate data.
- Unified KPI Tracking: Consistent performance metrics across all departments.