Brazilian Insurer Uses BigQuery to Underwrite Critical Decisions
For the insurance industry, hard numbers have traditionally driven complex business decisions such as who to cover, what to cover, and at what price. With digital platforms providing immediate and unlimited access to these numbers, the pace of decision making has accelerated. To stay competitive in this rapidly changing marketplace, Mitsui Sumitomo Seguros (MSS) recognized the need to leverage their available data to stabilize and scale existing operations, improve sales decisions and better engage employees. Working with CI&T, an enterprise digital solutions specialist, Mitsui Sumitomo Seguros had already begun optimizing its legacy systems and investing in cloud-based analytical solutions.
MSS managers required frequent and easy access to newly organized data (including performance metrics and market intelligence) to make timely decisions. MSS sales teams needed granular-level knowledge to create what-if scenarios, and analytical tools to diagnose problems and offer a range of policies on tight deadlines to their customers. All of these solutions had to be scalable and affordable, growing as Mitsui Sumitomo Seguros grew.
CI&T advocated using Google BigQuery for its lightning fast data processing capability and Compute Engine to power the Mitsui Sumitomo Seguros insights application. The system was easy to install and quick to build. These two Cloud Platform products handled all security, scalability and infrastructure issues, allowing CI&T to focus its resources on developing a user-friendly interface and reporting system for MSS employees. CI&T choose Tableau, a data visualization tool integrated with BigQuery. CI&T was now able to map Mitsui Sumitomo Seguros’s business processes and create a system-wide and highly flexible dashboard. Information disseminated through the dashboard helps MSS employees identify the root causes of problems that arise, experiment with data sources to determine which are most valuable for decision-making and quickly choose what tasks to prioritize.
"Exploring operational data, monitoring business KPIs or following up on results,” says Giuliano Borro, Mitsui Sumitomo Seguros's CIO, “no matter the goal, all the data is provided to the commercial department so they can create their own data view, supporting their core business sales decisions."
Mitsui Sumitomo Seguros’s senior leadership team praised CI&T’s information platform for its simplicity and user-friendliness, with 90% of MSS managers employing the new system every day. New data sets now can be built in hours instead of months using more traditional dimensional cubes. They also can be loaded in seconds instead of hours and can respond accurately to queries with an unlimited amount of data available – unlike the previous norm of a two-year window. Critical business decisions have become completely data-driven, changing the culture of the company, reducing business response time and sparking sales growth by 40% in a single year!