{"id":26355,"date":"2019-03-27T12:23:20","date_gmt":"2019-03-27T17:23:20","guid":{"rendered":"https:\/\/centricconsulting.com\/?p=26355"},"modified":"2022-09-30T12:50:48","modified_gmt":"2022-09-30T16:50:48","slug":"insurance-business-intelligence-how-to-spend-more-time-on-value-added-analytics","status":"publish","type":"post","link":"https:\/\/centricconsulting.com\/blog\/insurance-business-intelligence-how-to-spend-more-time-on-value-added-analytics\/","title":{"rendered":"Insurance Business Intelligence: How To Spend More Time on Value-Added Analytics"},"content":{"rendered":"
Part of a blog series.<\/a><\/em><\/p>\n In your role as an analyst for the Commercial Property line of a Property & Casualty Insurance<\/a> company, your line manager has come to you for insight on what the loss ratio looks like if policies that meet certain criteria are discounted.<\/p>\n Your analytical mind is thrilled at the prospect of a new investigation. However, you understand very well what is about to happen next.<\/p>\n\n You will schedule a meeting with IT to request the data you need. That meeting will end with IT promising to see what they can do to provide the requested data.<\/p>\n It will take more time and involve more complexity than anticipated to get the data. The data set will take several iterations before you have what you need to answer the question.<\/strong><\/p>\n You will likely become \u201cshadow IT,\u201d collecting data from sources you have outside IT. You will spend late nights and early mornings completing the pivot table and charts to meet your deadline.<\/p>\n Once that\u2019s done, the data and methods will live in one of your spreadmarts, which you then continually tweak and update, often long after the need for that data set has passed.<\/p>\n Perhaps your colleagues hear you have done this and come to you to assist them with a similar task for their line, which results in more iterations with IT and a fork of the spreadmart.<\/p>\n
\n\n <\/div>\n The Insurance Business Intelligence (BI) Map<\/h2>\n