Ascot Group implements data magnifier

Ascot Group has implemented a data magnifier designed to consolidate data from multiple administration systems into a robust data warehouse. 

The magnifier, provided by insurtech Percipience, was delivered 30 days early and below budget, the insurtech said. 

Percipience said it was selected to help Ascot take advantage of rapid growth in its US specialty insurance programme.   

“We chose Data Magnifier for three key reasons,” said Tim Gambocurta, vice president of information management for Ascot US. “First, it provided a comprehensive, proven insurance data model that could be extended if necessary. 

"Second, Data Magnifier has a development framework that allowed us to reduce the implementation time significantly and ease the transition to allow my current staff to extend the integrations for future sources. 

"Lastly, cost – integrating three source systems using Data Magnifier was significantly cheaper than another service provider estimated.”

Deployed in Ascot’s Microsoft Azure environment with Azure SQL as the underlying database, Percipience said its data magnifier optimised investments in existing technology, established a consistent, conformed, and reconciled data repository which supported basic operational and management reporting, as well as more advanced analytics. 

“As we continue to enhance Data Magnifier with more robust data integration and artificial intelligence (AI) capabilities, we’re always aware of ‘the assignment,’” said Bruce F. Broussard Jr., managing partner at Percipience. “Insurance organisations have spent decades adding applications which have further separated and segregated their internal data. The real promise of advanced analytics and AI in insurance is only possible after you’ve been able to make your enterprise data available in a usable form. 

"Data Magnifier untangles and normalizes needed, relevant data across the enterprise to better deliver insights to underwriters, actuaries, CXO, and operations leaders at the lowest total cost of ownership (TCO) in the industry. We are proud to have Ascot Group as a partner and pleased they are realising the ROI they had planned. We look forward to continuing to work with them to further increase the value they get from the platform.”

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