Insurance firm Miller’s processes for handling multiple data formats and channels was highly manual. This made the process lengthy and prone to error. The firm wanted to develop its data management capability to increase efficiency and improve client service.
Processing transactions in multiple formats
Miller’s Programmes & Facilities business receives multiple spreadsheets and reports from a network of Managing General Agents (MGAs) that must be processed.
• Monthly updates are received in Excel format and must be reviewed, validated and processed for internal system use
• Once complete, the reports were manually forwarded to business partners
• Due to the variety and complexity, the process was highly manual
• High number of errors often crept into the process, with reports having to be recalled and resent
Automated data processing
Miller sought to automate a number of these processes through Xceptor.
• Data is automatically collected and enriched from multiple input formats, including FTP sites and emails
• Data is processed immediately by user-defined business rules
• Extrapolation of raw data e.g. geo codes for extraction into exposure models and premium balances into accounting ledgers and presentation in a usable format for clients
• Provision of a real-time feed in XML for clients
• Analytical capability - Improved insight through one single view of data and operational teams now able to perform advanced analytics on the information
• Increased efficiency - Significant time saving within the process cycle
• Improved client service - Reports and data automatically distributed in multiple formats, depending on client requirements
• Future proof - Xceptor scales with business demands and users can configure new data sources themselves
For Miller, it is more than just ‘Does the technology handle spreadsheet data?’ There are plenty of products that can do that, but we were looking to evolve a data management capability over the long term. Xceptor was selected because it has proved in its deployments to leading global institutions and the volume of data it handles that it is robust, scalable and properly supported.
Head of Operations, Programmes and Facilities, Miller