TigerLogic^® Insurance Data Services

The Insurance industry is in flux. New competitors are entering the market with new and flexible business models. There is more competition between organizations via new channels such as online customer interfaces, self-service, and streamlined “e” insurance services. To compete effectively, companies must become more nimble by leveraging information across the enterprise (versus silo applications) and 3rd parties. Access to quality data also drives predictive analytics and helps organizations uncover “hidden” relationships and trends from their data. This requires having more flexible adapters to legacy systems and replacing manual processes that impede success.

Organizations are moving their applications to Service Oriented Architecture (SOA) and utilizing the data standard ACORD for interoperability. Over 60% of the top 25 insurers in the U.S. have a strategy in place to implement ACORD standards. ACORD XML provides information exchange and integration with all of the insurance carriers, brokers, agents, service bureaus and important applications such as Agency Management Systems (AMS) and rating solutions. Adoption of the ACORD standard improves adaptability and interoperability, reduces costs, increases efficiency and is a necessary first step to a successful SOA strategy.

According to Gartner, “By 2010, more than 50% of early adopter organizations migrating toward service-oriented architecture will fail at their first attempts, due to a lack of rigor in enforcing data governance and information management policies.

TigerLogic Insurance Data Services helps your SOA efforts via ACORD integration and your ROI with a predictive analytics repository!

Enabling an enterprise for ACORD is a complex process. Challenges such as the re-engineering of interfaces with legacy systems and partner/broker systems make adoption of ACORD difficult to manage. Additionally, the ACORD standard is evolving and has multiple versions and insurance carriers institute proprietary extension challenges. To be successful in the quest for ACORD XML and SOA adoption, insurers must overcome several key challenges.

		Integration of ACORD deviations, versions and extensions.
		Data federation and multi-schema support.
		Support of evolving structure to persist and support unplanned change.
		Integration of ACORD and other protocols such as DTCC and EDI.

ACORD Infrastructure Diagram

TigerLogic Insurance Data Services for ACORD
The TigerLogic Insurance Data Services solution enables efficient use of ACORD standards between partners and within the enterprise. It’s built on the TigerLogic XML Database Management Server (XDMS), which is ideal for storing hierarchical and multidimensional data, including XML, non-XML and XML metadata.

Customizable for your Enterprise
TigerLogic Insurance Data Services solution is designed for extensibility with the following capabilities:

		Easy to use data mapping and metadata reconciliation from legacy systems to ACORD.
		Point TigerLogic to data sources to dynamically build metadata structure of source. Map data fields from legacy systems to the ACORD standard plus proprietary extensions.
		Straight Through Processing (STP) messages flow in and out of your enterprise and will be formatted according to your company’s specifications.
		Ongoing costs of maintenance and rewriting of interfaces virtually eliminated. Mitigating changes of ACORD versions and extensions significantly reduced.
		Centralized data storage of all messages to facilitate exception handling and auditing.

Pedictive Analytics Model Based
on Age, Education, Income, and Risk

Data Services for Predictive Analytics
Calculating high and low risk profiles based on Age, Education, and Income (illustrated above) can reveal crucial information for insurers. For high quality predictive analytics, companies need to aggregate information from many different data sources and ensure that it’s up-to-date and accurate. Most insurers attempt to bring this information together with a point-to-point ETL (Extract Transform Load) process and data warehouse built on a relational database management system (RDBMS). Unfortunately, these systems are brittle in a dynamic technical environment where data values, relationships and structures may be constantly changing.

What’s required is a dynamic data hub built on a flexible platform. TigerLogic Insurance Data Services provides flexible data access, transformation, validation and persistence. It is built on the TigerLogic XDMS, which has a number of flexibility advantages over the RDBMS.

Product Brochure
TigerLogic Insurance Data Services Product Overview (439 KB pdf)

Contact Us
For inquiries, please contact TigerLogic Insurance Data Services sales at 949-442-4400 or email tl-ids@rainingdata.com.