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Zurich Insurance

QlikView helps Zurich Insurance manage its risk

Bedrijfsprofiel

Regio: Sweden
Omzet: $200 million
Bedrijfstak: Verzekeringswezen
Functie: Finance, Operations, Sales

"QlikView is a very good tool for minimizing risks. And it is fair to say that, as an insurance company, we are kind of connoisseurs in the risk management area."

Göran Wahldén, Business Developer, Zurich Insurance

Background

  • Leading insurance-based financial services provider serving the Nordic region.
  • A regional division of a multinational corporation, The Zurich Insurance Company.
  • Headquartered in Stockholm, Sweden
  • Achieved ~ $200 million in revenue with 200 employees

Challenges

  • Better assess risks and potential of insurance solutions.
  • Link together insurance systems while making them more adaptable and easier to use.
  • Perform fast and flexible analyses on different customers, types of damages, countries, and products.

Solution

  • Deployed QlikView to ~70 users across 3 functions in Sweden:
  • Sales Analysis: Better assess risk and measure profitability by customer, type of damage, product and country
  • Operational Analysis: Evaluate claim performance by customer, type of damage, product and country
  • Financial Analysis: Measure revenue performance of premiums by customer, product and country
  • Leveraged QlikView Server (64-bit) and Publisher to aggregate and analyze data from its in-house insurance system, FIRST, Access and Excel
  • Next steps include expanding these solutions to other divisions which focus only on corporate customers

Benefits

  • 96% reduction in workload for report development and maintenance down from seven full-time dedicated staff to two people working over a two- to three-day period every month
  • Provided uniform, valid and reliable data thereby building trust in the information and boosting productivity
  • Enabled underwriters to make faster and more well-informed decisions, translating into enhanced business performance

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