Data-Platform Implementation through Azure Databricks

Client profile

Our client, a prominent UK-based insurance company, offers specialist high-risk insurance and reinsurance for various sectors, institutions, and purposes, with unrivaled service.

Business challenges

• Lack of insight and knowledge for underwriting decision-making, hindering risk assessment and management.
• Absence of a data-driven culture, resulting in reliance on traditional processes and inhibiting innovation and efficiency.
• Limited understanding of insured parties and market dynamics, impeding portfolio management and customer engagement.
• Challenges in profit margin and prolonged time-to-market rollout, highlighting the need for streamlined operations and enhanced decision support systems.

LTM solution

• LTM built a robust data platform using Azure Databricks. This platform served as a centralized repository for reliable reporting and analytics.
• The platform provided reliable reporting, analytics, and operational insights using the data lakehouse architecture.
• Experts in business intelligence, reporting, data science, and machine learning collaborated, allowing the platform to analyze and explore data across various domains thoroughly.

Key advantages of the data platform include:

• Utilized a consistent data source to drive informed decisions, optimize underwriting portfolios, and leverage loss and exposure data for strategic advantage.
• Users could ingest and analyze ad hoc or new datasets, uncovering actionable insights and gaining a competitive edge.
• Established a trusted data source with standardized business definitions, accessible through intuitive interfaces for seamless information consumption.
• Accessing and leveraging diverse, high-quality data improved underwriting and claims decisions, ultimately increasing operational efficiency and customer satisfaction.

Business benefits

• Successful platform releases empowered end-users with enhanced pricing intuition, portfolio clarity, and industry perspective.
• Utilizing a cloud-based, scalable, and performant platform reduced total ownership cost.
• Adopting a phased agile development approach resulted in quick time-to-market and improved cost efficiency, ensuring alignment with business priorities.
• Implementing a scalable, high-performance, unified data platform ensured timely access to accurate information, enabling informed decision-making and driving business growth.