Lusitania Seguros Accesses Business Intelligence 70% Faster—Improves Decision-Making and Boosts Competitiveness
 
 

Lusitania Seguros Accesses Business Intelligence 70% Faster—Improves Decision-Making and Boosts Competitiveness

  • Oracle Customer:  Lusitania Seguros
    Location:  Lisbon, Portugal
    Industry:  Insurance
    Employees:  600
    Annual Revenue:  $100 to $500 Million

Founded in 1986, with a portfolio of more than a half-million clients, Lusitania Seguros is one of the largest insurers in Portugal. As part of the Montepio Geral banking group, it offers a diverse portfolio of insurance products, including policies for motor0-vehicle, health, accident, property, life, and maritime insurance. It has approximately 600 employees and more than 4,000 agents.

 
 

 
 

Challenges

A word from Lusitania Seguros

  • "Information that took several days to process is now available instantly. With Oracle Business Intelligence Suite we have gained eight work days per month by consolidating information required to analyze each type of insurance plan." – Alexandre Ramos, Director of Information Technology and Organization, Lusitania Seguros

  • Replace old business intelligence (BI) solution, which had many customizations and no evolution plan
  • Eliminate high dependency in IT to support information-management requests
  • Deliver timely and accurate business indicators to managers to enable more informed decision-making about clients, products, and insurance rates
  • Create standards and working methodologies for collecting, consolidating, and organizing business data about the company’s insurance plans, policy holders, sales, and related services
  • Accelerate overnight processing of data from employees and insurance brokers working on different timetables, to provide accurate and up-to-date business information as quickly as possible
  • Ensure a scalable BI environment that can support future growth, and can more effectively and efficiently process large data volumes, for examples: regarding contract renewal scheduling, insurance policy cancellation, and daily sales accounting

Solutions

  • Increased the number and depth of business indicators available to managers to enable more accurate decision-making about the company’s insurance products and services
  • Eliminated eight days of work per month for consolidating information needed to analyze insurance policy sales, claims processing, and customer activities—a process that is now instantaneous
  • Increased by 70% the overall speed of users access to BI information, achieving an average of three seconds to generate key segmental-analyses, such as the number of accidents occurring the previous day or three years of sales history for a specific insurance product
  • Improved ability to analyze multiple business variables—such as the number of accidents over a given period and/or trends in healthcare needs—and introduce new insurance products that are adapted to current and emerging market demands
  • Generated new business information 50% faster with Oracle Exalytics, enabling managers to analyze the BI information they need when they start the business day
  • Increased daily use of the BI system by 45% due to ease of use—facilitating greater autonomy and more informed decision-making across the company
  • Enabled employees to create their own customized reports, removing the need to request IT team support for access to the system, allowing the IT team to focus on other priorities
  • Extended the company’s investment in Oracle’s engineered systems, optimizing performance while reducing costs and simplifying IT infrastructure
  • Developed an IT infrastructure capable of coping with a daily data growth of 250 GB

Why Oracle

After carrying out a comparative study of five BI solutions from various manufacturers, including MicroStrategy, Lusitania chose Oracle Business Intelligence. The company had an established Oracle footprint. “It made perfect sense to trust Oracle for our BI initiative," said Alexandre Ramos, director of information technology and organization, Lusitania Seguros.

"We were already using Oracle Exadata and understood the value that it could deliver. Oracle Exalytics, with Oracle Business Intelligence Foundation Suite, would extend the value of our Oracle engineered systems platform and provide us with the power and performance to simplify and optimize our IT environment. Oracle's solution beat my expectations. I anticipated that we would have a faster system, but the biggest surprise was the enthusiastic acceptance by the users, which was excellent," Alexandre Ramos said.

Implementation Process

The insurance company implemented Oracle Business Intelligence in approximately two months, including migrating data from its legacy system. Lusitania uses Oracle Business Intelligence to create reports, models, analyses, and forecasts, and Oracle Exalytics as a hardware-software platform for processing and storing data.