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Using External Data Sources To Help IdentifyFraud And Misrepresentation

Adrian Brown, CIO, Canal Insurance
Adrian Brown, CIO, Canal Insurance

Adrian Brown, CIO, Canal Insurance

Steering transformational initiatives within your businessenvironment that typically required IT.

Reports from the source systems provided financial and operational information but there was limited segmentation and real- time analytics were not available. The IT department partnered with the underwriting and claims departments to get approval to implement a data warehouse. People were trained, consultants hired, and an in-house development project was started to transform the way information was provided and used. We had also researched thirdparty tools and experimented with some of the newer ones but did not like the constraints of what could be done.

We choose to build Kimbal Stars using Microsoft SQL. From Stars came Cubes and then a Master cube. At every step, the technology was being enhanced so that it seemed like a just-in-time scenario. Using Excel and SQL Reporting , we started providing information that was just not practicable before.

Things done to elevate IT's relationship with the business

Two and a half years ago Canal needed to offer ISO Commercial Auto rating to expand into new markets for the company in addition to the proprietary rating that was in place. IT partnered with Under¬writing to put up the ISO Rater solution with AQS and met the two months deadline to have it up and running for 46 States.

Manner in which data is used to head off problems and complications before they happen

We use external data sources to help identify fraud and misrepresentation. Using tools like this in the underwriting process helps to better understand the risk and make better decisions.

The areas in business environment where solutions do not yet exist or not up to the mark, and which if existed, would've made job easier

 There are certainly different pain points. With the wealth of data available through data warehouses,     the correct use and interpretation is critical. The need for powerful tools to simplify the use of this data and to help ensure consistency and suitability is paramount.
The need for business specialists to take full advantage of the potential of the data is just as critical if not more so.

Technology trends impacting enterprise business environment

Tablets and social media are a fact of life. People use them for personal and busi¬ness needs. We need to offer the flexibility to provide the services asked for and respond to requests or events from a much broader spectrum than ever before. The opportunities that these new capabilities offer are marvelous.

 My roles and responsibilities as a CIO

The role of the CIO has always been to facilitate what the business wants and needs, and to present capabilities from new technology to improve efficiency. The hype of the past few years that IT needs to align itself with the business has always amazed me. What were people doing before? IT is an asset or it isn’t! If it isn’t, something has to change quickly.

Lessons learned and advice to fellow CIOs

Make sure that your staffs are business people. They need to work with the other business units to arrive at solutions. Partner with your vendors to allow both organizations to win equally. You and your people need to be aware of what is going on in your company, industry, and tech¬nology.

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