Shift to cloud optimizes performance at $3B health insurance provider

Business Challenges

  • Limited Flexibility and Scalability – Current environment did not allow for real time ad hoc analyses across all products, states and funding sources
  • Inefficient Allocations Process – Required to execute multiple cycles during month-end with a run-time of three to four hours; regulatory and industry reporting both involved separate labor intensive processes
  • Inadequate Visibility – System was a “black-box” that provided minimal visibility into the process and data besides final reporting

Solution

  • Advanced Allocation Approach – Updated approach to allow for robust analyses of product, state, funding source and market segment, while streamlining multiple manual reporting processes into a single efficient allocation process
  • Profitability and Cost Management Cloud (PCMCS) – Replaced on-premise Clarity allocation solution with the highly scalable PCMCS cloud offering
  • New Functionalities – Provided validations, traceability, and increased visibility into allocations
  • Collaborative Process – Configured and built the application with a collaborative client and development team to increase adoption of the solution

Impact

  • Optimized Performance – Reduced allocation calculation time from four hours to 30 minutes
  • Flexible Platform – Simple to maintain solution owned by finance department allows for much needed scenario analysis
  • Streamlined Process – Improved process and simplified user interface permits multiple iterations in a single day as well as new types of analyses
  • Standardized Reporting – Established a single solution that aligns management, regulatory, and industry reporting with easy to navigate views
  • Enhanced Visibility – Ability to query and trace data throughout the process in addition to faster process validation, issue resolution, and what-if analysis