CASE STUDY www.hcltech.com Modern Application Development BUSINESS CONTEXT • Solvency II – The regulatory measure by EIOPA to provide reasonable assurance to policy holders by ensuring that the EU Insurers have made enough provisions in their capital to mitigate any unforeseen losses that impact policy holder money • EU insurers had to implement Solvency II by 2013, and client wanted, preferably, to be an early adopter of Solvency II Objective • Streamline data delivery process from source systems to end • Enterprise Data warehouse to provide input for Solvency II internal model calculations • Set up Single data source for NL Finance data • Improve Data Quality and Metadata management HCL SOLUTION Approach • Client chose to build home-grown data warehousing solution after evaluating off-the- shelf solution, as the source of ﬁnancial and risk data were mostly homegrown • Program AeMcS was crystallized to address Solvency II and data quality • Develop a data warehouse to provide necessary input for Solvency II internal model calculations and address the 3 pillars Solution: • Scalable ETL framework developed to accommodate new sources of data on Informatica data integration platform • Metadata Manger tool for data proﬁling and maintain consistency across disparate systems Delivery from source to Solvency II internal model reduced to 24hours from 3 to 5 weeks throughput time CLIENT: One of Top 5 Global life & Annuity Insurer and Financial Service provider from Europe. Solvency II Project Won Celent Model Insurer Award

Delivery from source to Solvency II internal model reduced ......• Solvency II – The regulatory measure by EIOPA to provide reasonable assurance to policy holders by ensuring that

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Page 1: Delivery from source to Solvency II internal model reduced ......• Solvency II – The regulatory measure by EIOPA to provide reasonable assurance to policy holders by ensuring that

CASE STUDY

www.hcltech.com

Modern Application Development

BUSINESS CONTEXT• SolvencyII–TheregulatorymeasurebyEIOPAtoprovidereasonableassuranceto

policyholdersbyensuringthattheEUInsurershavemadeenoughprovisionsintheircapitaltomitigateanyunforeseenlossesthatimpactpolicyholdermoney

• EUinsurershadtoimplementSolvencyIIby2013,andclientwanted,preferably,tobeanearlyadopterofSolvencyII

Objective

• Streamlinedatadeliveryprocessfromsourcesystemstoend

• EnterpriseDatawarehousetoprovideinputforSolvencyIIinternalmodelcalculations

• SetupSingledatasourceforNLFinancedata

• ImproveDataQualityandMetadatamanagement

HCL SOLUTIONApproach

• Clientchosetobuildhome-growndatawarehousingsolutionafterevaluatingoff-the-shelfsolution,asthesourceoffinancialandriskdataweremostlyhomegrown

• ProgramAeMcSwascrystallizedtoaddressSolvencyIIanddataquality

• DevelopadatawarehousetoprovidenecessaryinputforSolvencyIIinternalmodelcalculationsandaddressthe3pillars

Solution:

• ScalableETLframeworkdevelopedtoaccommodatenewsourcesofdataonInformaticadataintegrationplatform

• MetadataMangertoolfordataprofilingandmaintainconsistencyacrossdisparatesystems

Delivery from source to Solvency II internal model reduced to 24hours from 3 to 5 weeks throughput time

CLIENT: One of Top 5 Global life & Annuity Insurer and Financial Service providerfromEurope.

SolvencyIIProjectWonCelentModelInsurerAward

Page 2: Delivery from source to Solvency II internal model reduced ......• Solvency II – The regulatory measure by EIOPA to provide reasonable assurance to policy holders by ensuring that

• Databasefordatawarehouse:Oracle

• SolutionforLifelineofbusinessimplementedmid2011

BENEFITSSavings

• DeliveryfromsourcetoSolvencyIIinternalmodelreducedto24hoursfrom3to5weeksthroughputtime

• Newprocessusingthescalabledatawarehousesavedtheeffortof3to4FTE

Data Quality & Compliance

• Improvedtraceabilityledbydocumentationofalldatadeliveredfromsourcesystemtointernalmodel

• Improvedmaintainabilityofdataduetocomprehensivedatadefinitionandbusinessglossaryimplementationforalldataelements

• Highprocesscomplianceandservicedeliveryagreementadherence

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