Success Story Financial Services

Modernizing Insurance Business Operations With Data Visualization

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As this national leader in life and health insurance, annuities and retirement-planning solutions experienced rapid growth, it was losing visibility into its business operations. Reporting systems were unable to meet the growing needs of the business, limiting visibility into performance, hampering decision making, and making collaboration between different functions and business units more difficult.

This insurance company was looking for a data visualization solution designed to scale alongside the company’s rapid expansion.

The company engaged Apexon to work with its C-level executives and marketing leads to understand its reporting needs and deliver a custom solution that could meet its diverse needs and growth with it.

  • client - life and health insurance company

    Founded more than 50 years ago

  • National leader in life and health insurance, annuities and retirement-planning

    National leader in life and health insurance, annuities and retirement-planning

  • insurance business operations with 200,000 agents in 60 agency offices

    Over 200,000 agents in 60 agency offices and over 35 independent partner offices

The Customer Journey
2020

2021

2020
  • Data warehouse and business intelligence

2021
  • Data warehouse and business project management

the Results

Key Outcomes

Significantly improved visibility into company performance
Significantly improved
visibility into company
performance

Scalable data & analytics operations
Scalable data &
analytics operations

Full view into revenue, policies, & market performance
Full view into
revenue, policies, &
market performance

Our methodology

how
we did it

Apexon works with companies across the digital lifecycle.

Go Digital
Go Digital

Accelerating the delivery of new digital initiatives with confidence

Be digital
Be digital

Creating the infrastructure and foundation to scale digital initiatives

Evolve Digital
Evolve Digital

Leveraging data and analytics to continuously improve digital delivery processes

Launch & Experiment

Automate & Accelerate

Be Intelligent & Autonomous

Launch & Experiment

Enable digital adoption in a quick, and agile mannertransform the patient experience

Automate & Accelerate

Build digital infrastructure and foundation for enterprises to scaledigitization on patient Experience

Re-engineered the company’s data to quickly and efficiently generate analytics and visualizations

Be Intelligent & Autonomous

Leverage data engineering to make strategic decisions and get digital right every time

Created four state-of-the-art, industry-focused Tableau dashboards that track KPIs pertaining to revenue, production, effective headcount and marketer performance

The challenge

Optimizing infrastructure for data visualization & analytics

The company had made more than 25 mergers and acquisitions in two years. It had more than 200,000 agents in 60 agency offices and over 35 independent partner offices. The company’s operations were spread across various branches and affiliates, making it difficult for executives to get a complete picture of the business.

Without a standardized system, executives had to tediously sort through data in numerous layouts, formats, and files to draw conclusions. This created several big business obstacles:

defined data processes for insurance

Dispersed Data Processes Disparate systems caused unorganized data and loosely defined data processes

created time efficiencies to improve decision making

Decreased Productivity Across the Business The need to manually sort and validate data created time inefficiencies for executives and slowed important decision-making

developed centralized reporting solutions

More Difficult Collaboration the lack of centralized reporting made it more difficult for different units and functions to coordinate and support one another’s goals

The Solution

Data Visualization & Engineering

Apexon’s reporting solution focused on two key capabilities for the company and its executives:

  • Re-engineering the company’s data to quickly and efficiently generate analytics and visualizations. This enabled executives to load dashboards with key metrics and interactive visualizations on demand
  • Creating four state-of-the-art, industry-focused Tableau dashboards that track KPIs pertaining to revenue, production, effective headcount and marketer performance

data visualization and data engineering solutions for insurance companies
data visualization and data engineering solutions for insurance companies

As a result, the company has much better access to critical information on the company’s performance and is able to communicate it more effectively to keep different business units and functions in sync.

It also has more scalable data and analytics operations which provide a full view into revenue, policies, and market performance allowing executives and analysts to leverage KPIs to develop new strategies to support its growth.