International Insurance Firm Relieson Nucleus Prototype Mart to
Deliver Corporate Operational System onTime
January 6, 1999 08:32 AM
MONTREAL--(BUSINESS WIRE)--Jan. 6, 1999--SNDCF
Nucleus' Productivity Gains Delivers Ninety-day ROI for
Reinsurance Firm
A leading international insurance firm utilized Sand Technology Systems
International's SNDCF Nucleus Prototype Mart to implement and deploy its
new corporate operational system. This new system provides a comprehensive
solution to automate and integrate critical functions at the core of their
reinsurance business where data is fed from more than fifty-five different clients
including large commercial and industrial underwriters as well as direct and
specialty underwriters. With Nucleus, the reinsurance firm was able to meet
the predetermined corporate deadline for deployment, process over 90% of all
claims in a timely manner, improve efficiency of reinsurance administration by
replacing an old manual process and deliver a more effective, accurate and
timely analysis and management system for their business.
Prior to using Nucleus, early stages of the system implementation were slow
and falling behind schedule due to a large number of data errors and
inconsistencies. With no industry standards for formatting policy data, the
policy details from the fifty-five different client feeds were provided in various
formats, requiring an exorbitant amount of time for decoding, translating,
reformatting and integrating the data into their reinsurance administration
system. Typically, the actual data provided by the clients did not match the
data specifications they provided. This resulted in IT staff being overwhelmed
by the number of fixes required and forecasting a significant delay in the
deployment date of the system. In order to implement at an effective pace and
meet the corporate deadline associated with this system, they needed to find a
fast and easy-to-implement solution that could overcome the data
inconsistencies, reduce the errors and provide effective analysis to users.
With Nucleus, a very responsive and user-friendly platform was quickly
deployed to provide the existing users on the project team with fast and flexible
access to all data for validation, analysis and preparation, regardless of the
original data format. This approach provided significant productivity gains,
allowing the system to be deployed on time. The Nucleus Prototype Mart
negated the need for the time consuming, specialized training associated with
other more complicated software products, eliminated the need for the
manually intensive set-up procedures previously required, and easily integrated
all data feeds with inconsistent formats.
"Nucleus has proven to be an essential asset to us in our successful
implementation and on time deployment of our new reinsurance system," said
the Vice President of Finance and Administration of the insurance company. "It
provided us with a pay-back on our investment within ninety days and it proved
to be a solution that delivered personnel productivity gains and overall corporate
data integrity improvements that before were not possible."
Beyond its initial use as a Prototyping Mart, the company envisions the same
investment in Nucleus will be leveraged to handle and integrated business
intelligence capability with pricing, accidental & health and accounting
systems.
"Results seen by this insurance company are typical of those experienced by
other Nucleus users. The ability to handle diverse data and implement quickly
with early ROI is essential for companies implementing DSS. This combination
is driving the demand for the prototyping capabilities of Nucleus within
corporations and consulting firms who must implement critical decision support
systems in an effective, efficient and timely manner," stated Kevin Horigan,
Executive Vice President, Sand Technology. "Other than the sheer speed of
implementation, the most spectacular benefits of Nucleus are that it does not
require any specialized training or technical resources for implementing these
systems. This is even more critical to maintaining competitive advantage as
most corporate technical resources have been redeployed to Y2K systems.
Because of this phenomenon we are seeing many corporations and
consultants adding Nucleus to their decision support toolkit." About Sand
Technology
Sand Technology Systems International Inc. provides high performance,
scaleable software solutions for data mining, data marts, data warehouses and
online analytical processing (OLAP). Sand's Nucleus product suite brings
patented technology to the business user allowing for more timely and
accurate decision processing within the disconnected client, desktop,
workgroup, departmental and enterprise computing environments. Supporting
industries like Retail, Finance, Healthcare, Transportation, Telecommunication,
Manufacturing, Government and Insurance Nucleus is used for corporate
initiatives such as customer relationship management, risk analysis and
management, product trend and profitability analysis, fraud detection, emerging
markets, competitive analysis and quality control. Sand has commercial
relationships with IBM, Compaq Computer Corporation, Microsoft, Hitachi Data
Systems, Brio Technologies and Information Builders Inc.. Sand Technology
can be reached on the World Wide Web at sandtechnology.com.
All Rights Reserved. Nucleus, Nucleus Server and N-Vector are registered
trademarks and Nucleus Exploration Mart, Nucleus Exploration Warehouse
and Nucleus Virtual Database (VDB) are registered trademarks of Sand
Technology Systems International Inc. Other trademarks are the property of
their respective owners.
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