Accelerate transact business through their e-trading platform AcceleRATER™ which provides a slick process to obtain quotes, bind business and produce policy documents. Trading electronically provides Accelerate with a large amount of data but the AcceleRATER™ system currently produces limited reports.
Before working with Giroux, Accelerate was burdened with time-consuming manual processes to produce basic MI. Typically this would take 5 man days per month and would involve exporting data into Excel and manually adding formulas and formatting. The process was time-consuming, inflexible, prone to human error and restricted in terms of the complexity of data it could handle.
The GIROUX team worked closely with Accelerate to understand the business, its strategy, its MI requirements and the background on why an analytics platform was needed. This was achieved through various one on one interviews with key stakeholders and an interactive workshop to ensure the platform would deliver value from day one. The platform was tailored at speed, sourcing data from AcceleRATER™ as well as several other sources.
Now the system is live, quote and premium data is extracted automatically from the AcceleRATER™ system on a weekly basis while claims data is added monthly. The data is unified so that Accelerate can now analyse it easily. Earned premium and triangulation reports are automatically calculated and populated by the platform.
Accelerate were first attracted by GIROUX's expertise and passion for data analytics but what made GIROUX stand out was its clear roadmap to scope, build and deliver an MI platform and willingness to demonstrate through a proof of concept project.
Just a few months since launch, Accelerate are able to drill down into the data and create variations of an original report, without the need to spend hours on manual processes and data collection.
These time savings have led to a report-generation process of just a few hours rather than 5 days per month and Accelerate expect to reduce this time even further as they continue to automate more processes.
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The use of GIROUX's platform doesn’t stop with underwriting. The platform is also an important tool for the sales team – it provides the ability to track business, enabling the team to report accurately on the sales cycle.
Accelerate has managed to streamline its data analysis ability, reducing costs and improving the insights from its many sources of complex data.
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GIROUX gave us confidence from the start, helped us apply more robust disciplines for saving complex data and were willing to prove what they were promising.
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