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13/06/2011 1 trends in data warehousing for insurance companies Kevin Pledge [email protected] 416 949 8920 @kevinpledge Who here uses a data warehouse?

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Page 1: trends in data warehousing for insurance companies€¦ · technology: mobile, cloud, in-memory computing business: experience studies, earnings-by-source, privacy 1980’s 1990’s

13/06/2011

1

trends in data warehousing for insurance companies

Kevin Pledge

[email protected]

416 949 8920

@kevinpledge

Who here uses a data warehouse?

Page 2: trends in data warehousing for insurance companies€¦ · technology: mobile, cloud, in-memory computing business: experience studies, earnings-by-source, privacy 1980’s 1990’s

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Data Warehouse

About 50% of survey respondents use a DW

Data Warehouse

About 50% of survey respondents use a DW

But 85% of these users responded that their DW was not easy to use

Page 3: trends in data warehousing for insurance companies€¦ · technology: mobile, cloud, in-memory computing business: experience studies, earnings-by-source, privacy 1980’s 1990’s

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trends in data warehousing

future trends

technology: mobile, cloud, in-memory computing

business: experience studies, earnings-by-source, privacy

1980’s 1990’s 2000’s

1997 – IBM, Oracle, Microsoft launch BI products1990 – Cognos launch first desktop BI tool

Niche vendors, fragmented tool sets

Emergence of mainstream, web based products

Page 4: trends in data warehousing for insurance companies€¦ · technology: mobile, cloud, in-memory computing business: experience studies, earnings-by-source, privacy 1980’s 1990’s

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The future is already here - it just not very

evenly distributed

storage trend

Data Extract(s)

Operational Data Store

Data Warehouse

Data Extract(s)

Operational Data Store

Page 5: trends in data warehousing for insurance companies€¦ · technology: mobile, cloud, in-memory computing business: experience studies, earnings-by-source, privacy 1980’s 1990’s

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Why not stop at Operational Data

Store?

storage approach

Mel’s filing system Kevin’s filing system

row-based column-based

Page 6: trends in data warehousing for insurance companies€¦ · technology: mobile, cloud, in-memory computing business: experience studies, earnings-by-source, privacy 1980’s 1990’s

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Mel’s row-based filing system

Efficient – fast “write”

Efficient “transaction” retrieval (by date)

But not good for analysis

Kevin’s column-based filing system

Initially slower to store information

But faster for analysis

Page 7: trends in data warehousing for insurance companies€¦ · technology: mobile, cloud, in-memory computing business: experience studies, earnings-by-source, privacy 1980’s 1990’s

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data warehousing enables analysis

insurance companies do a lot of analysis

analytical apps in insurance

sales reporting

salesforce analysis

accounts

underwriting analysis

claim analysis

inforce demographics

valuation analysisvaluation data extracts

experience studies

earnings-by-source

actu

aria

l in

volv

emen

t

analysis frequency

retention analysis

customer analysis

Page 8: trends in data warehousing for insurance companies€¦ · technology: mobile, cloud, in-memory computing business: experience studies, earnings-by-source, privacy 1980’s 1990’s

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Opportunities for Actuaries in Business Analytics

As part of the SOA's strategic objective to create and promote new areas of practice, this initiative will determine whether significant opportunities exist for actuaries in business analytics and, if so, identify projects the SOA should undertake to explore and develop these opportunities.

Page 9: trends in data warehousing for insurance companies€¦ · technology: mobile, cloud, in-memory computing business: experience studies, earnings-by-source, privacy 1980’s 1990’s

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analytical competitors

Page 10: trends in data warehousing for insurance companies€¦ · technology: mobile, cloud, in-memory computing business: experience studies, earnings-by-source, privacy 1980’s 1990’s

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senior executives strongly advocate analytics and fact-

based decision making

widespread use of descriptive statistics,

predictive modeling, and complex optimization

techniques

Page 11: trends in data warehousing for insurance companies€¦ · technology: mobile, cloud, in-memory computing business: experience studies, earnings-by-source, privacy 1980’s 1990’s

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analytics used across multiple business functions

enterprise-wide approach to analytical tools, data, and

process

Page 12: trends in data warehousing for insurance companies€¦ · technology: mobile, cloud, in-memory computing business: experience studies, earnings-by-source, privacy 1980’s 1990’s

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Tom’s Analytical Companies

Example from closer to home

Page 13: trends in data warehousing for insurance companies€¦ · technology: mobile, cloud, in-memory computing business: experience studies, earnings-by-source, privacy 1980’s 1990’s

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Universal American Data Warehouse

actuarial driven project

specific goals

specific decision makers

Universal American - 5 years since DW implementation

Page 14: trends in data warehousing for insurance companies€¦ · technology: mobile, cloud, in-memory computing business: experience studies, earnings-by-source, privacy 1980’s 1990’s

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correlation

HTTP://IMGS.XKCD.COM/COMICS/CORRELATION.PNG

Page 15: trends in data warehousing for insurance companies€¦ · technology: mobile, cloud, in-memory computing business: experience studies, earnings-by-source, privacy 1980’s 1990’s

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Tom’s Analytical Companies

UPS

Page 16: trends in data warehousing for insurance companies€¦ · technology: mobile, cloud, in-memory computing business: experience studies, earnings-by-source, privacy 1980’s 1990’s

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Dell

Yahoo

Page 17: trends in data warehousing for insurance companies€¦ · technology: mobile, cloud, in-memory computing business: experience studies, earnings-by-source, privacy 1980’s 1990’s

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Walmart

Progressive

Page 18: trends in data warehousing for insurance companies€¦ · technology: mobile, cloud, in-memory computing business: experience studies, earnings-by-source, privacy 1980’s 1990’s

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what’s happened?

remember Universal American

actuarial driven project

specific goals

specific decision makers

Page 19: trends in data warehousing for insurance companies€¦ · technology: mobile, cloud, in-memory computing business: experience studies, earnings-by-source, privacy 1980’s 1990’s

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analytics leads to decisions

or

decisions drive analytics

actuaries in business analytics

sales reporting

salesforce analysis

accounts

underwriting analysis

claim analysis

inforce demographics

valuation analysisvaluation data extracts

experience studies

earnings-by-sourceretention analysis

customer analysis

Page 20: trends in data warehousing for insurance companies€¦ · technology: mobile, cloud, in-memory computing business: experience studies, earnings-by-source, privacy 1980’s 1990’s

13/06/2011

20

trends in data warehousing

future trends

business: experience studies, earnings-by-source, privacy

technology: mobile, cloud, in-memory computing

opportunities for actuaries

1980’s 1990’s 2000’s

1997 – IBM, Oracle, Microsoft launch BI products1990 – Cognos launch first desktop BI tool

Niche vendors, fragmented tool sets

Emergence of mainstream, web based products

thank you

Kevin Pledge

[email protected]

416 949 8920

@kevinpledge