Insurance Data Model

//Insurance Data Model
Insurance Data Model2019-04-17T09:10:54+00:00

Comprehensive data model optimized for insurance reporting

InsFocus BI’s insurance data warehouse model design follows industry-proven dimension- modeling standards, and stores data at the lowest possible level of granularity. Concise policy information is detailed down to the coverage and risk parameter level. Claim information includes individual payments, historical reserve estimates and full tracking of claim status changes.

The model is optimized for fast and flexible querying via InsFocus BI’s Query Engine. The insurance data warehouse’s design in not limited as is the case with traditional OLAP data models, and provides unrivaled query and analysis flexibility.

Insurance Data Model

Portfolio profitability models

InsFocus provides three models for analyzing an insurance portfolio’s profitability:

  • Financial/Accounting view – Corresponds to financial statements representation, which is basically ongoing income-outgo adjusted for incoming/outgoing reserves.
  • Underwriting view – Which is an insurance underwriter’s point of view, used for presenting portfolio performance to Reinsurers and for judging clients’ portfolios at renewal.
  • Accident/Exposure view – Which is an actuary’s point of view – best for providing a true and updated measurement of profitability.

InsFocus enables all three ways of measuring an insurance portfolio’s profitability and does so at any required granularity; among other – whole portfolio, specific business lines, coverage level, client level, intermediary level, geographical area.

These combinations can be used to make decisions on pricing changes by Line of Business, to set terms at renewal for commercial accounts, to make decisions on continued activity with specific intermediaries and many more business cases. Moreover, by using Accident/Exposure view, one can easily cater to the common requirement of capping the effect of exceptionally large losses.

Insurance business domains

InsFocus BI’s insurance data warehouse model covers all property and casualty business domains, as is covered in the insurance content pages. Those domains include:

Policy / section / claim granularity

Freed from the limits of traditional OLAP solutions, InsFocus BI’s insurance data warehouse model details data to the lowest insurance granular level, including:

  • Policy data
  • Policy transactions (changes)
  • Policy sections (coverages)
  • Risk codes (specific values per product)
  • Claims data
  • Claim payments
  • Claim outstanding estimate changes
  • Collection data
  • Client data

Optimized for insurance queries

InsFocus BI’s insurance data model was built for insurance from the ground up, and therefore is highly optimized for fast and flexible insurance-specific queries. A lot of work and effort has been put into each calculation method, index, fact table and other data structures, in order to speed up and facilitate typical insurance queries, such as:

  • Earned and unearned calculations
  • Issued, latest, exposed, in-force sums-insured
  • For renewal and lapses
  • Outstanding claim estimates
  • Reinsurance cessions and margins
  • Claim status filters (e.g. run-off)

Follows industry standards

InsFocus BI’s insurance data warehouse model is a star-schema dimensional model, closely following the Kimball approach for data warehousing. The data model has been developed for years following practices by Ralph Kimball, TDWI, Microsoft and others, to achieve a highly efficient yet standards-compliant P&C insurance data warehouse.