The American Association of Insurance Services (AAIS) serves the P&C insurance industry as the only national not-for-profit advisory organization wholly owned by its member companies. AAIS delivers tailored advisory solutions including top-shelf policy forms, rating information, and data management capabilities.
AAIS leverages a Hadoop-based data lake and NoSQL opensource software to tackle their big data challenge. To accomplish this in a highly-regulated industry like the US Insurance Market, they needed to marry an Intelligent Data Hub that could connect with back-end systems, the data lake, and interact in real time with the business tools in use. Their solution brings together Master Data Management (MDM), Reference Data Management (RDM), as well as Data Governance with a highly-scalable enterprise data lake.
xDM enables AAIS to refine the process of communicating data intelligence across the organization with a highly-configurable interface that supports demanding business users. This modern data management platform has allowed AAIS to reduce affiliate implementation times by over 85%, due to flexible data hub structures leveraging APIs and customizable data integration formats. To accomplish this, they needed a flexible tool that would accommodate a highly extensible data model to capture actuarial insurance product level complexity. It thereby eliminates the need to ”translate actuarial data into English, then back into actuarial data"
xDM helps AAIS to deliver the most accurate, up-to-date, and complete data to their partner organizations.