Transforming insurance and risk management into an empowered proactive asset
GasanMamo Insurance Ltd. is Malta’s leading insurance company, providing competitively priced travel, home, medical, marine and business insurance products for both personal and commercial clients throughout the Maltese Islands.
Insurance businesses are complex and operate within a highly competitive market. Having a strong brand name is not enough to survive and subsequently become leaders. Insurance companies need to be aggressive and smart in identifying trends, provide personalized services and offer the right set of products at the right price to the right customer.
The management of GasanMamo Insurance (GMI) relies on the Risk and Management Information team to provide them with continuous and up-to-date information about how the business is performing. Ms. Marcon Vassallo, Risk and Management Information Manager explained how before the introduction of QlikView, they relied heavily on Excel to prepare and maintain all reports which were then distributed to the key people via email. However, this system was not efficient, reporting took long and this meant that at times, management was not able to take quick decisions when necessary.
The solution and iMovo experience
Ms. Vassallo went on to explain the reasons which fuelled the decision to adopt a business intelligence solution and that the research process was a rather rigorous one.
“iMovo understood our business needs and were instrumental in identifying the right tool for our business. They assisted in the implementation process, mentoring and training our developers so that reports and dashboards were up and running in no time. This has enabled us to become self-sufficient in Qlik development allowing us to design and implement future BI projects on our own.”
Given the highly competitive nature of the insurance industry, GMI required a cost-effective business discovery platform that was sensitive to changes in market conditions.
“We wanted to enable self-service analysis of complex data to help us make decisions in a timely and proactive way” explained Ms. Vassallo. The introduction of QlikView within GMI enabled faster decision making processes; reduced time to data visibility and discovery and above all empowered the data analysts to generate insights in a user-friendly and self-service environment minimizing dependencies on the IT department.
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