OVERVIEW

Indian health insurers are swimming in the vast streams of data, pouring from different data sets associated with each claim. Over the years, data quantity has become too vast to be stored and processed by on-premise systems, posing the need for efficient data storage and data management solution on cloud.

One of India’s leading health insurers serving customized insurance offerings to corporates and individuals decided to leverage the abundant data at its disposal to power its customer 360^o vision for improving customer experience and realigning sales strategies. 

Bitwise proposed and built a Data Lake on Cloud and Logical Data Warehouse (LDL) solution that helped the company efficiently manage volumes of data across enterprise and leverage insights for better decision-making.  

CHALLENGES 

The company planned to utilize all its data to create reliable customer golden records that could be leveraged for better analytical insights, data-driven decision making, and a solid foundation for digital initiatives.  

This meant solving the following challenges: 

• Migrating all enterprise data to a central location on cloud for easy access, efficient management, and further processing 
• Intelligently integrating both structured and unstructured data for reliable insights 
• Establishing data governance parameters to ensure high data quality & security 
• Enabling flexibility and customization through user-friendly dashboards 
• Creating data-driven customer 360^o profiles 

Bitwise suggested a two-phased approach with Data Lake on cloud in the first phase and Logical Data Warehouse with Customer 360^o in subsequent phase(s) that served more than a solution for these challenges and paved a way for a long-term data strategy. 

THE CLIENT PERSPECTIVE BEHIND THE PARTNERSHIP

The company looked for a technology partner with strong hands-on experience in solving data challenges and deep insights into the Indian business ecosystem.  

Bitwise’s expertise and experience in data & cloud solutions made it a perfect value partner who could design and implement the right solution quickly and efficiently. 

Here are the core advantages that were considered: 

• 22+ years of strong domain experience
• Deep expertise in data & cloud 
• A comprehensive suite of data engineering solutions 
• Agile methodologies 
• Expert talent  
• Strong customer experience insights 

OUR APPROACH: “HARNESSING CLOUD”

The solution designed by Bitwise helped the company harness the full potential of data and cloud to advance its data objectives.  

The roadmap of this solution was as follows:  

• Bitwise recommended and enabled a cloud solution to solve the central data challenge. 
• The solution included a Data Lake on cloud and a Logical Data Warehouse with a centralized data integration layer, implemented in phases. 
• The core steps included building a data lake environment, migrating on-premise data to cloud, establishing data quality framework and enabling data virtualization for advanced analytics. 
• The solution ensured maintainability using generic utilities for core operations, automatic data lifecycle events, and exhaustive metadata management. It also ensured that future needs regarding unstructured data like call logs, emails, social media feeds would be catered for. 
• It had scalability built into the solution, with considerations for data cleansing, encryption, high availability and disaster recovery. 

HOW BITWISE SOLUTION ALIGNED WITH THE CLIENT VISION

The solution helped the company create a better data management initiative along with basing its business decisions on a well-governed data strategy. 

It ushered in the following advantages:  

• Reliable data insights  
• Faster and data-driven decision making 
• Customer golden records 
• Improved customer experience 
• Increased sales through efficient customer targeting 

TRANSFORMATION THAT FOLLOWED

Data lakes on the cloud are proving to be quick and efficient initiatives to get the best out of data for most insurance companies in India and around the world. They are also the most efficient way to build reliable customer golden records and lay a robust foundation for deeper digital transformation.  

The company leveraged the Bitwise solution to realign its sales strategies by utilizing customer 360^o and strengthened the foundation for its move to digital.  

In the months after the deployment, the company went on to experience a significant increase in sales with effective targeting and reliable analytical insights, while simultaneously exploring how digital technologies can be best utilized to power business goals with a renewed confidence in its own data.

TECHNOLOGY