Company
Established in 1970, AAMI (Australian Associated Motor Insurers Ltd) provides car, home, compulsory third party personal injury and business insurance in Australia.
Core products/services – comprehensive car insurance, third party property damage insurance, home buildings insurance with complete replacement cover, home contents insurance, landlord insurance, renters’ insurance, motorcycle insurance, caravan insurance, compulsory third party personal injury insurance and business insurance.
Business Challenges
In 2006, AAMI had more than 3.1 million policies and handled more than 300,000 claims. AAMI is consistently the highest-ranking national financial institution by corporate reputation.
As part of the finance department’s reporting deliverables, a Management Reporting pack has to be produced each month for distribution to key business stakeholders ranging from operational line managers through to Group executives.
This reporting pack summarises new business written, renewals sent/received, claims ratios and numerous other measures that help senior management analyse their performance in the volatile Home and Motor Insurance industry.
The creation of this reporting pack had historically been done using a complex set of interrelated spreadsheets, which required a substantial amount of time and effort to maintain and administer. Due to a substantial change in the reporting requirements, it was decided to look for a more robust and maintainable way of producing the Management Report pack.
After unsuccessfully trialling solutions from other leading BI vendors, BOARD came to the rescue with its unique programming-free, toolkit approach to solution development.
Production of the reporting pack involved bringing together information from a number of AAMI systems - operational data from the Protect System and Oracle Financials, Budget information and end of month adjustments from various user based Spreadsheet systems. This had to be combined with Claims data and manually formatted to produce the final reports.
This manual process was very time consuming as the Reporting Pack had to be produced by Company, State and Product requiring approximately sixty separate reports.
BOARD Solution
Independent Systems Integrators (ISI), the Australian distributor of BOARD, were commissioned to build a proto-type of the proposed reporting system using BOARD to provide AAMI staff with an understanding of the “Toolkit approach” and prove that the development time frame of three weeks was achievable.
Within a few days it was clear that ISI could deliver the new system using BOARD and that it would have a robust, user friendly interface and be easy to modify in the future. The workflow engine supported in BOARD allowed the development of a graphical interface that is easy for new staff to learn and operate.
The solution has automated the collection and integration of all data feeds. BOARD data entry capability allows end of month adjustment figures to be entered as they become available. Cost allocations are automatically calculated and apportioned across the Regions by Product and number of policies. The Reporting Pack can now be produced in a few hours instead of days and the errors that can often occur in large spreadsheet-based systems have been eliminated.