Paragon’s rapid growth strategy is enabled by
‘s business intelligence solution.
CLIENT:
INDUSTRY AND TYPE OF COMPANY:
INSURANCE, MGA
COMPANY SIZE:
$1B
NUMBER OF DATA SOURCES:
BUSINESS SYSTEMS / APPLICATIONS
10+ BUSINESS SYSTEMS
GOALS
- Understand loss characteristics, rating details, impacts of rate changes for all programs.
- Provide claims processors automated coverage verification access.
- Supply Executives and Program Managers high-level book of business trends.
CHALLENGES
- Paragon’s book has many lines of business, each with it’s own challenges.
- Many carrier and claims partners, managing 80+ different data feeds.
- Internal team is operating at capacity and needs to find ways to operate more efficiently.
- Highly disparate set of data sources that were not integrated.
SOLUTIONS
- Organized all data sources into a dimensionally modeled data warehouse to support reporting across many subject areas and enable automation of partner data feeds.
- Implemented a common insurance data ingestion structure, enabling rapid consumption of an unlimited number of datasources while reducing the manual effort required.
- Provided real-time access to 3rd party claims administrators for coverage verification, resulting in reduced manual effort and faster claims processing.
- Created easy-to-use Executive and Program dashboards providing key performance indicators such as: written premium, loss ratios, and comparisons to goal.
RESULTS
- Paragon continues to succeed with its rapid growth strategy.
