success/beazley-transforming-technology-infrastructure-and-data-capabilities-for-modern-insurance

Beazley: Transforming Technology Infrastructure and Data Capabilities for Modern Insurance

Beazley:

Transforming Technology Infrastructure and Data Capabilities for Modern Insurance

Industry: Banking, Financial Services & Insurance

Delivery Center: Europe

talk to an expert

Transforming Technology Infrastructure and Data Capabilities for Modern Insurance

Industry: Banking, Financial Services & Insurance

Delivery Center: Europe

talk to an expert

Industry Context

The insurance industry operates with slow innovation cycles due to stringent regulations, making it hard for them to modernize quickly. However, growing customer demand for personalized products and pricing, alongside increasing regulatory complexity, is driving the need for more agile infrastructure and advanced data capabilities. Insurers must upgrade their legacy systems and adopt scalable, cloud-based solutions to improve operational efficiency, ensure compliance, and meet market expectations for personalized offerings.

Beazley-Industry Context

Client Challenge

Our client, Beazley, a top specialty insurance company in Europe, struggled with outdated legacy IT systems and data silos that hindered digital transformation and customer experience. Limited capabilities to extract insights from structured and unstructured data, impacted the client’s underwriting and pricing models. Additionally, the client lacked scalable cloud infrastructure and advanced analytics capabilities. This limitation affected their operational efficiency and compliance with evolving regulatory demands, putting their market competitiveness at risk.

Beazley-Client CHallenge

Approach

Encora partnered with Beazley to modernize their technology infrastructure and data capabilities and provided a comprehensive suite of services that included:

  • Consulting Services: Engaged business users across Actuarial, Underwriting, Claims, and Finance departments, providing expert guidance to address their specific data and operational challenges
  • Modern Data Stack (MDS) in Cloud: Transitioned the client’s traditional architecture to a decoupled, modular Modern Data Architecture optimized for cloud scalability, real-time processing, and innovation
  • Product Modernization: Replaced integrated commercial solutions with modular, API-based capabilities, creating efficient data pipelines and improving system interfaces
  • Data Analytics, Visualization & BI: Contributed as a member of the Data Transformation Advisory Board, providing innovative solutions that enhanced the client’s data strategy
  • Machine Learning & AI Models: Developed and implemented AI/ML applications, including natural language processing (NLP) models for intelligent claims routing and machine learning models for underwriting risk prediction, leveraging technologies such as Python, SpaCy, and LightGBM
  • Microservices Architecture & Domain-Driven Design (DDD): Migrated the enterprise data warehouse to a domain-driven, cloud-based data platform, streamlining processes and enhancing scalability
  • Data & Application Security: Enhanced regulatory compliance by implementing row-level security and establishing governance protocols for datasets, reports, and dashboards
  • Microservices, API & Data Testing: Improved data quality across the business by managing data pipelines, automating processes like delta detection and exception handling, refining API usage, and conducting comprehensive data testing
Cloud-Services

Results

Encora successfully transformed Beazley’s data infrastructure, improving scalability, real-time processing, and regulatory compliance.

  • Migrated from on-premises to a cloud-based data platform with dynamic, on-demand scalability
  • Replaced batch processes with real-time processing through microservices and APIs
  • Established enterprise-wide data availability with faster load times and improved data quality, enabling streamlined operations
  • Implemented robust data governance, improved information security, and ensured regulatory compliance
  • Spearheaded the rollout of Microsoft Power BI as the enterprise analytics platform, defining usage, security, and performance standards
  • Enabled predictive insights and automation in claims and underwriting processes through the implementation of AI/ML models
Cloud Ops-Results

Data Entrance Points

Data Entrance Points

Data Enrichment Costs

Data Enrichment Costs

Client Success Stories

Discover how our strategic innovation accelerates impact for fast-growing enterprises and digitally-native companies.

Beazley: Transforming Technology Infrastructure and Data Capabilities for Modern Insurance

Transforming the client's infrastructure, boosting scalability and efficiency through cloud ...

Read More

Riskpro: Modernizing the Fintech Platform by Implementing a Scalable Microservices Architecture

Modernizing RiskPro's FinTech platform with a scalable AWS microservices architecture, boosting ...

Read More

ServiceLink: Reengineering and Migrating the Legacy System to Cloud

Trasitioning from a legacy operational model to a modern, agile, and secure platform for strategic ...

Read More
Previous Previous
Next

Accelerate Your Path
to Market Leadership 

Encora logo

Santa Clara, CA

+1 669-236-2674

letstalk@encora.com

Innovation Acceleration

Speak With an Expert

Encora logo

Santa Clara, CA

+1 (480) 991 3635

letstalk@encora.com

Innovation Acceleration