IPB INSURANCE  CASE STUDY

IPB Strategic Data Management Program

CHALLENGES

IPB Insurance is wholly Irish‐owned and is the only indigenous mutual general insurance company in the Irish market. IPB specialise in bespoke insurance solutions within the core public service, education and health market segments. Given their commitment to ensuring proactive strategic management of the business informed by ongoing responsiveness to market challenges, the IPB Board and Management Team engaged Client Solutions in an exercise to determine how business information analysis might be optimised to support their strategic objectives.

APPROACH

IPB’s emphasis on ensuring engagement of its data as a strategic asset formed the basis of a data strategy which Client Solutions delivered. Like in all businesses, technology is having a huge impact on the insurance industry.  This sometimes leads to companies diving into what looks like new data management solutions, investing in new technologies and sophisticated analytics in haphazard ways without a clear plan.

Together with IPBwe worked on creating a data strategy that was driven by the overarching business strategy. A critical starting point was the business’ strategic objectives. Simply put, we worked on determining how IPB’s data can be best engaged to support achievement of the strategic objectives of the business.
Once this was determined, we charted a course for reaching those goals. This included having a deep understanding of what kind of data was needed, internal and external data. We also looked at the data from a quality, governance and ownership point‐of‐view.

For the second part, we considered the future including how the data will be stored and modeled. We also considered regulatory and privacy aspects including GDPR, data lineage and overall Master Data Management. Finally, we looked at tooling, technology and training in terms of best fit, considering existing investments and people skills.

OUTCOME

Client Solutions delivered an enterprise data strategy for IPB that prioritised the needs of the business. The data strategy provided a mechanism to allow stakeholders to work together with all parts of the business, to peel back layers and peer into the core business to secure an achievable plan for the
future. IPB now has a strategy that focuses sequentially on the critical data needed for each step along the journey. That critical data addresses specific business needs to help the organisation reach its strategic objectives and generate real value. The data strategy delivered at IPB goes beyond technology and includes securing sponsorship, establishing a funding model, organisational change management, data governance, data stewardship and success metrics

“The strategy delivered by Client Solutions provided a road map of the data dependent capabilities that IPB is committed to navigating in order to achieve the desired business transformation.”

ABOUT IPB Insurance

– Established in 1926

– IPB Insurance is wholly Irish-owned and is the only indigenous mutual general insurance company in the Irish market.

– IPB Insurance is the leading insurer to the Irish public sector.

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