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Development of Enterprise Data and Analytics Strategy for Insurance Company

icare engaged Frazer Walker to assess and recommend ways to improve or accelerate delivery of the Data Strategy rollout. 

The Challenge

icare engaged Frazer Walker to conduct an independent review to answer questions around data governance, records management, data quality and the opportunities to leverage unstructured data and the use of a data science approach.

Our Work

Specific questions addressed included:

  • Where are icare in delivering the data governance component of the strategy?
  • What are the priority areas in data governance, are they being established as part of the roadmap and what quick win benefits are available regarding good data governance, including such items as data definitions?
  • What are the impediments to better execution of the Data Strategy
  • Can we trust our data from source to target systems, and if not, what needs to happen so that we can?
  • Data Quality assessment – where are we at with regards Data Quality management and remediation?
  • Where are we in our records retention strategy and its implementation?
  • What are our risks with the current approach and where do we need to accelerate time to value for records retention and management
  • What value or opportunities can we extract from icare’s unstructured data and how should we approach this?
  • What 3rd party data can we leverage and blend with our internal unstructured data assets to create more value?

The Outcome

Frazer Walker’s conducted a capability assessment across the governance and risk, build, run and consume sectors of the value chain for data and analytics, by department and function, assessed against the Data Management Association’s (DAMA’s) DMBOK as well as a RACI assessment of services and functions.

This delivered a horizontal analysis across the organisation of their capabilities, the rollout of a capability build in data and analytics, as well as management of records and the building of a data science capability. Every aspect, from data strategy, data governance council, risk and security was assessed with recommendations made to uplift, accelerate or improve progress to the original plan. 

Contact

For more information please contact Ian Chisholm, Phone: +61 401 316 004, Email: ian.chisholm@frazerwalker.com