Data Mastery Spectrum Overview 2012

Abstract

Data mastery has been one of the top three insurance priorities for the last several years, yet most insurers still struggle with how best to use their own internal and external data to achieve their business goals.

Data mastery, as its name implies, is the mastery of data available to an insurer that allows it to use data, both internally and externally, to gain business insights and improve decisioning in all aspects of the business.

This report, Data Mastery Spectrum Overview 2012, profiles vendors that provide data mastery components: namely business intelligence (BI) presentation, analytics, data warehouse, ETL component solutions, and BI content, such as insurance data models, dashboard and report templates, KPIs, etc. Data mastery also includes enterprise data mastery roadmaps to enable insurers to align their data efforts with their business goals, objectives, and data sets. In addition, analytics has evolved to include big data and data virtualization.

“No vendor has emerged as a true leader in helping insurers develop their data mastery strategy and roadmap, and few offer a complete data mastery solution,” says Ben Moreland, Senior Analyst with Celent’s Insurance group and author of the report. “The few that have created and enacted on their data mastery strategy will quickly emerge as industry leaders.”

This report describes the current data mastery space in insurance and profiles 27 data mastery vendors that provide at least one of the data mastery components to insurers. Each profile provides an overview of the data mastery components offered by the vendor. Some vendors offer multiple solutions, and each is listed within that vendor’s profile.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America (New York)
Dana Greenstein
dgreenstein@celent.com
Tel.: +1 646 364 8254

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)208 870 7875

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81.3.3500.3023