QuanTemplate produces federated data model


QuanTemplate Technologies (QuanTemplate), a Bermuda-based specialist provider of tailored analytics, intelligence and data integration to the insurance industry, has introduced a federated data model.

The model harmonises the data to give insurers access to these systems to enable smarter capital allocation, which is particularly important in the current environment and for their long term survival. This model has been successfully implemented for Aegon’s reinsurance arm Blue Square Re.

This innovative system allows insurers and reinsurers to harness the power of their big data trapped in siloes, quickly and efficiently. QuanTemplate claims that without something like this re/insurers won’t be able to harness the power of big data and that it is a missing ingredient that harmonises data, thereby allowing access to valuable InsurTech innovations .

The federated data model lets companies extract data from multiple legacy systems easily and accurately. It then unifies the information that defines the granular risk, exposure, and claims cases into an ultimate, consistent data format, thus providing a flexible platform for real-time data interrogation and analysis.

Once data has been fed through the federated data model, it operates continuously, delivering real-time information to the centre, without changing the underlying policy and actuarial admin systems. This stream of intelligence provides the basis for decision-making and action, whether in the underwriting room or the C-suite.

"For the first time underwriters can easily extract risk, exposure and claims data locked within silos and harmonise it into a single data feed,” said Adrian Rands, CEO of QuanTemplate.

“In a competitive trading environment with negligible investment returns, the Federated Data Model is the most effective way to access the underlying data required to identify profitable underwriting opportunities across a global account.”  

QuanTemplate Technologies, Bermuda, Analytics, Data, Aegon, Blue Square Re

Bermuda Re