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MAKING THE SHIFT FROM PRODUCT TO CUSTOMER CENTRICGary Allemann
@mdm_za
• Modernisation• Regulatory development• Disruptive market conditions • Operational change• Tax
Top insurance industry issues (2015)
Source: PWC
• Adapting strategy and business model• Market segment challenges and opportunities• Risk and Regulatory Complexity• Process and Systems Improvement• Tax
Top insurance industry issues (2016)
Source: PWC
• Adapting strategy and business model, and supporting IT infrastructure
How do we adapt our business model to support new business opportunities?
How do we reduce costs?
Modernisation
• Taking advantage of new analytics models
Modernisation
• IoT, Cyber insurance, Commercial lines, terrorism
Disruption
Regulatory Challenges
2000
PAIA
2001
FICA
2008
CPA
2003
RICA
2008Companies Act
2005
NCA
2008
ECT
2015FATC
A
2009 King
III
PoPI
911Enron PatriotAct SOX Subprime
CrisisUS
RecessionBernardMadoff
LehmanBros SnowdenDodd-
Frank Act
SAMRegim
e
DESTROYCREATE STORE USE ARCHIV
E
ACCOUNTABILITY
PROCESSING LIMITATION
SPECIFIED PURPOSE
LIMITATION ON FURTHER PROCESSING
INFORMATION QUALITY
SECURITY SAFEGUARDS
PARTICIPATION OF DATA SUBJECT
OPENNESS
But….
Enterprise InformationCompanies prefer to see their situation as….
Information assets developed in silos
Duplication of data services (i.e. building the same integrations
over and over again)
Approach to regulatory and compliance and security is
inconsistentInflexible, fragmented
infrastructure
Duplicated Data
Demand and requirements management is ad-hoc and
unstructuredLack of cross-organisational
governance
Concerns over data quality
Many localised, personal copies of
“Information Assets”
Data lineage difficult to determine
Single version of the truth is hard to find
Competency gaps and heavy reliance on external partners
Enterprise InformationBut it‘s really more like….
DQ
Business Allignment
Data domains vs Business Processes
$$ Value $$TOTAL EXPOSURE
CLIENT
EXPERIENC
ESALE
S
EFFE
CTIV
ENES
S
Name ID Telephone Address 1 Address 2 Address 3
Mr & Mrs Bob Hope 3807160123081 +27(0)731515511 PO Box 1752 Johannesburg 2000
Robert P. Hope 3705155018081 073-151-5512 Posbus 1752 2000
Donald Duck 3705155018081 n/a 12 Disney Street Randpark Ridge 2156
Donnie Duck A0515248 Disneystraat 12 Randparkrif 2169
[email protected]+27114854856www.masterdata.co.zaBlog.masterdata.co.za@mdm_za
