South Africa's insurance industry operates within an increasingly competitive environment, and must use all the IT tools at its disposal to remain competitive, streamline operations, manage risk and grow revenue.
In addition, insurance providers handle vast amounts of information on a daily basis, and need simple but powerful tools to sift through all the data so as to gain actionable insights. However, none of this can happen if the insurance companies' decision-makers do not have immediate access to the data that helps them make the right decisions every day.
At the ITWeb Business Intelligence Summit 2015, to be held on 17 and 18 March, Lion of Africa CIO, Robert Boccia, will present a financial services case study entitled: Insuring the future through the use of BI at Lion of Africa.
Boccia will talk about Lion of Africa's BI journey, and will cover what the company achieved through its BI implementations. "Lion embarked on a capability maturity improvement programme in 2012, covering all IT capabilities required to deliver a mature IT experience at the organisation."
He says BI has given the business unprecedented access to information that was not previously available. Essentially, he says, the company was "flying blind". "Today we are able to monitor all aspects of the business and make better informed decisions. This was simply not possible for the organisation before we embarked on this journey."
The BI tools available today enable insurance companies to make better business decisions and to report on, analyse, and monitor the flood of business data that is drowning the enterprise. This helps to boost revenue, improve operations and get the maximum value out of the information available.
ITWeb BI Summit 2015
This 10th annual BI conference is packed with presentations by local and international subject matter experts, including several case studies from South African corporates. Get there to find out how to turn your BI insights into profits for your business. Click here to register.
Insurance companies, in particular, need to be able to sort through large volumes of data from multiple sources, including agents, underwriters, claims and customers, and must able to cross-reference the information, to uncover how the different factors affect the organisation and to pinpoint relationships within the data.
Boccia's presentation will unpack Lion for Africa's BI journey, and reveal how the company was able to make better business decisions as a result.
The 10th annual ITWeb BI conference will be held at Vodacom World in Midrand on 17 and 18 March. Click here to find out more and to register.
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