Rob Logie & Ram Kumar

8/2/2019 Rob Logie & Ram Kumar

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Ram KumarGroup Chief Technology OfficerChief Information Officer, Asia

Insurance Australia Group (IAG)

Australia

March 27, 2012

Rob LogieDeputy Chief Executive Officer

SBI General Insurance Company LimitedIndia

Creating an Information Management

Centric Culture in an Organisation


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CopyrightIAG and SBI General Confidential, 2011-122

Insurance Australia Group (IAG)No.1 General Insurer in AU and NZ


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State Bank of India (SBI)Indias Largest, No.1 and most trusted Bank

210+ million customers

206 years old21,500+ Branches

99,345 Offices

70,000+ ATMS

172 Offices in 37 Countries223,000+ employees


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SBI General Insurance Company LimitedA Joint Venture between IAG and SBI

Be the most trusted general insurer in India

with fair and transparent business practices,

leading the Nations effort in increasinginsurance penetration


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Key Trends in Insurance IndustryImportance of Data/Information Management Practice*

18% of total claims payments are fraud. 30% of insurance IT time is spent fixing data.

Inefficiency of direct marketing programs and low conversion rate.

Insurance underwriting leakage around 10%

The underwriting work force is aging.

Increasing legislative and legal compliance requirements to be met Strong focus on risk based pricing

Actuaries play a key role in an insurance business to stay competitive

Events monitoring and predictive analysis for product, risk and pricing

decisions.

Online commerce (including self service) and social media

*EMC's financial services research, Insurance Networking News, AAXIS GroupResearch and Forrester


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Information Management Our Goal

Get the Right data to the Right place

at the Right time in the Right format

with the Right qualityin the Right

contextwith the Right securityand,

with the Right governance*

*OASIS Party Information International Standards, www.oasis-open.org/committees/ciq


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Information management at the centre

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Effectiv

edeci

sion

makin

g

Regulat

ory&

Legalco

mpliance

Bettercustomerservice

Betterreporting

Timeyand

reliabledataOp

eratio

nal

effic

iency

Process

efficienc

y

Secure

information

Perform

ance

management

Sup

erio

rprodu

ct

design

Staff

reten

tion

Customerre

tention

Identifygrowthopportunities

ManagefraudBetter

riskselecti

on

Data/

InformationManagement

Data/

InformationManagement


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Think horizontally.......not just vertically

Sales U/W Claims

Vision & Strategy

Value Chain

Business Processes

Data Flows

Information Management

IT Environment

Security

Parties (e.g. Customer)

Policies, Standards

Insurance Business

Finance Operations


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Educate.EducateEducate


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Key cultural outcomes

Achieving IQ Maturity: Lessons learnt and best practices,

DQ Asia Pacific Conference, 2008, Australia


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What have we done so far?

IM Awareness

IM Sponsorship IM Champion (accountability) IM linked to Corporate & Staff BSC

IM Strategic Plan Dedicated Enterprise IM Group

Data Ownership and accountability

IM Lifecycle IM Framework

IM Competency

IM Governance IM Custodians/Stewards

IM Principles

IM Policies IM Standards

IQ Monitoring and Review Data Quality Lifecycle Management

Master Data Management

Enterprise Data Model Enterprise Business Data Dictionary

BI

Rewarding Staff (in progress) DQ Awards (in progress)

IM Education and Training


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Information Management Group

CEO &

Dy.CEO

Finance StrategySales &

Marketing Operations

Information

ManagementGroup

Actuary ClaimsUnder-

Writing

Legal

&Compliance

IT

HRRe-

InsuranceInvestments


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The information management team

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Information Management Governance


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Information Management Framework


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Example of IT enablement

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Information Management and Business Process Management are the centre piece


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SingleSourceOf

Truth

The 10 Commandments1. Have a Single Source of Truth (SST) for Key PartyData across the enterprise

2. Key Party data will be stored in the SST environment

and the data is independent of IT applications

3. Party data specific to an IT application will not be

stored in SST environment

4. IT Applications will capture key party data, but will be

managed by the SST environment5. Any key party data entry through an IT application will

be verified against SST

6. IT Applications will store other relevant party data not

in SST

7. Any changes to key party data will be managed by theSST environment

8. IT Applications will be synchronised with SST

unidirectional9. Enforce data quality rules to manage party data

10. Enforce governance process for eye balling partydata

Single Source of Truth (SST)


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Key takeaways

Take a holistic approach

Set realistic goals

Make people accountable

Get support from the top

Importance of education Reward the good and punish the bad

Be consistent

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And.......dont give up!


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Thank you

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Documents

Rob Logie & Ram Kumar