QlikView Provides One-Point Source for Reliance Life’s Daily Reporting Needs
Customer Company Size
Large Corporate
Region
- Asia
Country
- India
Product
- QlikView
Tech Stack
- Life Asia
- Sun Accounting
- Talisma
- Credence
- Prophet
- Policy Tracking Systems
- SAP
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Productivity Improvements
- Cost Savings
Technology Category
- Analytics & Modeling - Real Time Analytics
Applicable Functions
- Sales & Marketing
Use Cases
- Predictive Maintenance
Services
- Data Science Services
About The Customer
Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd. of the Reliance - Anil Dhirubhai Ambani Group. Reliance Capital is one of India’s leading private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital has interests in asset management and mutual funds, stock broking, life and general insurance, proprietary investments, private equity and other activities in financial services. Reliance Life Insurance is a key step forward for Reliance Capital Limited to offer need-based Life Insurance solutions to individuals and Corporate.
The Challenge
Reliance Life Insurance was facing several challenges with their reporting process. The process was manual, with employees having to extract data from the Life Asia software and compile them in Excel. This was not only time-consuming but also led to issues with accuracy and consistency between reports. There were no linkages between the Excel sheets, which made comparative studies difficult and delayed decision-making. The company needed a solution that could provide customized solutions to their clients, both individual and corporate, and provide access to reporting tools that could analyze the data and drill down to the bleeding end or profitable sources.
The Solution
Reliance Life Insurance implemented QlikView, a solution that was able to pull data from different data sources, thus eliminating the need for manual intervention and reducing the risk of manual error. QlikView allowed for better comparative studies of their Expenses vs. Revenue, which in turn improved the quality and delivery performance. Reports were easily created on the basis of their key KPIs like Premium, Policies, Sum assured, Ratios, Lapses, Withdrawals and Surrenders. The objective of the QlikView project was to build a reporting framework that provides a unified view of the organization to the end users by consolidating data residing in disparate source systems being used within the organization.
Operational Impact
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