When a leading insurance broker needed new metrics from disparate systems, we found creative ways to give executives powerful data analysis capabilities.
Disparate systems and data make reporting difficult
This organization struggled with a highly manual revenue reporting process that relied on multiple source systems and lacked the ability to provide deep analytics in a timely manner. Specifically, management was unable to analyze trends between client-level revenue and managed claims. The company had attempted to merge claims and contract data several times but had yet to succeed.
With the company’s business growing rapidly, the ability to analyze client revenues was critical. Management turned to West Monroe Partners for assistance. West Monroe had worked successfully with the company before and offered both the deep industry experience and technology knowledge to drive this project to completion.
New ad-hoc reporting capabilities
West Monroe Partners’ cross-functional team quickly oriented itself to the unique issues posted by the client’s disparate systems and moved to address those by:
- Architecting and implementing a matching process to join data from the two systems
- Developing a user-friendly process for assembling and uploading manually generated revenue data
- Creating a Microsoft-based analysis “cube” that enabled ad-hoc analyses from Microsoft Excel Pivot tables
- Implementing a maintenance solution that enables the finance team to improve business logic over time
Greater visibility, more responsive business operations
With newly assembled revenue and claims data, the client’s executives are able to:
- Identify and steer its business toward the most profitable clients and billing types
- Hold managers accountable for claimand revenue metrics
- Perform ad-hoc revenue and claims analysis by client branch, account manager, carrier, and broker
Accordingly, the client has experienced tremendous improvement in the visibility into its business operations.
The company now can identify and respond to rapidly changing business dynamics—leading the way to greater profitability and growth.
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- Microsoft Excel 2010