Easier and Faster Access to Data with Business Intelligence & Analytics

With the new TARGIT Business Intelligence solution, Claim Service, the regions and a number of other departments at financial and insurance company Alm. Brand has gained both easier and faster access to data regarding the individual claims in an unprecedented level of detail. It has led to increased efficiency, possibility of a more goal-oriented effort as well as a better utilization of the staff resources. “Now I’m more in contact with the customer claims. I have full insight into the current claim level every morning,” tells Brian Wahl Olsen, Alm. Brand’s Claim Director.

If a storm hits the nation, he is able to see the consequences with TARGIT already the day after. “By comparing the claim registration procedure to previous similar incidents, we are able to control the organization faster and to forward the resources to where they are needed at the time. Now we know the development of the different claims and thus how they affect our organization,” underlines Brian Wahl Olsen.

The users are able to get the information they need from day to day themselves in TARGIT. At the same time, the data can be reviewed in many different ways in order to give the user the exact claim information that they need. Today, the claims can be shown in up to 25 different dimensions such as product, location of the claim, date of the claim, status of the claim, cause of refusal, claim processing time, payments etc. ”The level of detail of the claims is new and improved. We have never had so many accessible data about a claim as we do now. The increased transparency in the damages gives us insight into and a total overview of all the customer claims, which we can use in our efforts to become even more efficient,” explains the Claim Director.

A need for analyses
TARGIT satisfies the need for analyses in Alm. Brand: ”We made an analysis where we set up the following criteria: user-friendliness, price, and experience, and we took a close look at three of the leading BI tools in the market. Consequently, we chose TARGIT as our analytical tool,” says Henrik Schjødt-Bruhn, Director of the BI department and continues: “We use TARGIT Decision Suite for creating alternative analyses and calculations. At the same time, we are able to dig deeper into the figures to present the results in many different ways with great-looking graphics.”

As Alm. Brand’s BI department developed the solution, more users started using TARGIT. “Today, almost 100 end users regularly use TARGIT Decision Suite for accessing information that can support them in their daily decisions”, says Flemming Hansen, TARGIT Responsible in Alm. Brand.

Microsoft and TARGIT go hand in hand
Alm. Brand decided to purchase a stronger analytical tool than their existing reporting tool MS Reporting Services. While MS Reporting Services met the need for regular reports for the general user, Alm. Brand did not have a standard tool which could meet the users’ analytical needs.

Both MS Reporting Services and TARGIT are presented in Alm. Brand’s reporting portal and the users see them as one integrated tool. “It always takes some time and resources to get familiar with new tools, but we were surprised of how easy it was to integrate TARGIT in our IT environment, and the developers have taken the tool to heart quickly as well. TARGIT has been very supportive during the implementation process, and we took some very successful courses. Also, we have joined a TARGIT user group, where we receive a lot of inspiration from other companies to our future use of TARGIT,” concludes Flemming Hansen.

BARC 2016

BARC report

Alm TARGIT Business Intelligence

The Alm. Brand A/S Group is a Danish financial services group consisting of a listed holding company and a number of subsidiaries operating within non-life insurance, banking and life and pension insurance. In addition, the Group operates an investment business in the ordinary course of its operations. The Group also comprises a reinsurance company.