Single Source of Truth, Enterprise-wide Insight
Accelerate legacy replacement and fine-tune your business with an enterprise approach to your data
Data is the lifeblood of insurance, critical to core operations across policy, billing and claims processes as well as for monitoring the business and fulfilling regulatory requirements. Incorporating data management and business intelligence solutions during a core system transformation allows insurers to better map and convert data into the new core systems and to create a central data hub that can keep downstream processes intact through implementation and beyond. This approach accelerates legacy replacement, provides greater operational insight from the new core systems, and delivers an enterprise-wide view and insights to fine-tune the business.
Guidewire DataHubTM is an operational data store that unifies, standardizes, and stores data from the patchwork of an insurer’s systems as well as external sources. It allows carriers to create a single version of the truth through a detailed transaction repository where internal and third-party data is subject oriented, conformed, and has common context. This provides a staging platform to accelerate legacy replacement and meet the needs of both data producers and consumers.
- Retire legacy systems—Insurance data often outlives the application that created it. DataHub migrates and persists data to create a single source of truth that accelerates core system migration, and allows you to sunset or streamline legacy systems.
- Future-proof data architecture—Business and IT system and data needs change all the time. Yet data is often siloed and conflicting. DataHub de-couples data sources from point-to-point connections with downstream systems, enabling efficient replacement or addition of new systems to keep pace with change.
- Improve data quality, completeness, and consistency—Data often lacks integrity, consistency, or completeness in legacy source systems. Legacy applications can be limited by line of business or functional area, and have proliferated over time. DataHub secures data integrity by gathering, analyzing, testing and validating data using proven methods and tools. Data consumers can use the data with confidence.
Guidewire InfoCenterTM is a business intelligence warehouse purpose-built for P&C insurance which provides information in easy to use formats for business intelligence, analysis, and enhanced decision making. With InfoCenter, customers gain operational insight as well as fine-tune the business by building views and understanding across the enterprise.
- Enterprise wide view—Provide a holistic view by leveraging conformed data from the entire enterprise including policy, claims, and supplemental internal / third party data.
- Simplified development and maintenance—Accelerators for data extract, transform, and load (ETL) processes from Guidewire DataHub to InfoCenter reduce implementation time, project risk, and maintenance overhead, allowing carriers to focus on addressing unique needs.
- Continuous improvement—Enhance enterprise insights on an ongoing basis by using the extensible data management framework and tools to implement new data marts.
Millbrook Data Models
DataHub and InfoCenter are based on Millbrook Data Models optimized and proven over 16 years for the general and workers compensation insurance industries by the data experts at Millbrook, acquired by Guidewire in May 2013. The models are based on best practices honed over time across diverse, successful insurance implementations. They guide and streamline data migration, enabling customers to focus on differentiation and the highest value business intelligence solutions. They are agnostic to both source systems as well as the BI tools that are commonly used in the industry.
- American Modern Selects Guidewire Solutions for Data Management and Business Intelligence | January 14, 2014
- Guidewire Software Announces New Versions of Data Management and Business Intelligence Products | December 18, 2013
- Guidewire Congratulates 2013 Innovation Award Winners – AAMI, AXA France, Groupe Promutuel, Mercury Insurance, and Montana State Fund | October 8, 2013
- Guidewire Software Announces Data Management and Business Intelligence Products | June 2, 2013
- Guidewire Software Acquires Millbrook | May 13, 2013
- Centralize Data to Accelerate Core System Replacement | ITA Pro Magazine, April 28, 2014
- Omnichannel Revolution Grips Insurance Core Systems | Insurance & Technology, December 19, 2013
- Strategic Differentiation through Effective Data Management (Requires Registration)
Accelerate legacy migration and fine-tune insurance operations.
Power of Insight
A single source of truth and business intelligence foundation provide the insight you need to make the tough calls and take action.
Data integration through a master data hub is a proven approach that provides many benefits to the insurer. In legacy systems replacements, a data hub can serve as the backbone for core system integration, but also can mitigate the need for complex or large conversion efforts and provide a consolidated enterprise view of the business.