Enhancing Risk Analytics Dashboards for Fortune 500 Insurance Company

Client Overview

The Hartford, a titan in the U.S. insurance sector, ranks as the 13th-largest property and casualty insurance company. With over 25 years of partnership, they are a trusted auto and home insurance provider for AARP members, embodying a legacy of reliability and customer trust.

Challenges

The Hartford risk department faced significant challenges by having multiple in its analytics dashboards. Their existing dashboards were fragmented, across multiple BI tools, and inconsistent. They were also plagued by low performance and high latency, necessitating frequent reruns. This inefficiency was compounded by their reliance on outdated, manual spreadsheet-based models, making timely risk assessment daunting.

Project Goals

The primary objectives for Blue Orange Digital were to transition from manual, spreadsheet-based models and multiple BI tools to a more robust, automated system using Tableau. Develop a localized data pipeline integrating SQL and Tableau to enhance data flow and accessibility. Restructure and enhance over 20 existing predictive data models to improve accuracy and response time. 

The Solution

Blue Orange Digital undertook a comprehensive overhaul of The Hartford’s data management systems. The project focused on several key areas:

• Data Pipeline Construction: An ingestion pipeline was established for The Hartford’s risk assessment team, which involved the integration and normalization of data from 12 internal sources. This foundational step ensured that subsequent models and analyses were built on clean, consistent data.
• Model Optimization: Blue Orange Digital redesigned and enhanced variable-based risk analysis models. These new models were specifically adjusted for thresholds to handle over $1 billion in underwriting liabilities, significantly boosting their predictive power and reliability.
• Automated Reporting: To streamline reporting processes, automated report exports were set up for 12 key stakeholders across two departments, facilitating timely and accurate data dissemination. 
• Rapid Prototyping and Dashboarding: The team employed rapid prototyping techniques to develop and deploy a series of advanced dashboards in Tableau. These dashboards provided real-time insights and analytics, empowering department heads and decision-makers with actionable information. 

Technologies Used

• Tableau: Leveraged for powerful data visualization and dashboarding. 
• Databricks: Utilized for its robust data processing capabilities, enhancing model performance and scalability. 
• AWS: Provided the cloud infrastructure necessary for hosting and scaling the entire data workflow, ensuring security and accessibility. 

Impact

The transformation led by Blue Orange Digital marked a significant leap in The Hartford’s approach to risk assessment. With enhanced models and automated processes, The Hartford now benefits from:

Reduced model latency, enabling faster response times in decision-making. Higher accuracy in risk prediction, crucial for maintaining competitive edge and customer trust. Streamlined operations, allowing teams to focus on strategic tasks rather than manual data manipulation.