This reinsurance company not only wanted to improve the quality of its data by standardizing the information, it also wanted to create business rules up front. The company sought to create a comprehensive risk-grading system similar to the FICO score that credit companies use. To make the process work, it needed a software solution that was capable of keeping this system up-to-date by continually monitoring and improving information.
DataFlux dfPower Studio combines several tools to help standardize incoming data and assist companies in building business rules into their system. The ability to create and enforce business rules is critical, especially when insurance companies strive for consistency across departments or employees.
With dfPower Studio, the reinsurer's business analysts spend their time watching the overall ratios and seeing how that affects the need for reserves. Instead of guessing at how much to put in reserves - and overcompensating to meet regulatory guidelines - analysts pinpoint exactly how much money needs to be held back to meet requirements.
Manufacturing ERP Research Library
