Of Special Interest


[x] [x]

22nd April 2012

QlikTech-placing agile analytics in the hands of the business user

Insurance Newslink first interviewed innovative business analytics specialist QlikTech two and half years ago. At that time they were working with companies such as Aon and Zurich.
Since then, the company has doubled its customer base in all sectors to 24,000 across countries, and also its employees to 1,100+ across 28 offices in 23 countries-it grew 42% in 2010/11.
QlikTech was founded in Sweden in 1993 and is now headquartered in the US-it works with 1,200 global partners, including leading systems integrators.
Insurance Newslink met up with Mike Saliter, senior director, Financial Services Market Development to get an update report on the company's continuing growth and success of its flagship solution, QlikView.
Saliter said that the company now had a wide range of insurance clients on board-there are dedicated financial services staff in Frankfurt, London, New York, and Latin America. He added that the key to QlikView's penetration across all markets is the fact that it is business user driven through "self-service drill everywhere" analysis using any device through dynamic dashboards, searching live data. QlikTech calls this Business Discovery as opposed to traditional Report-Centric Architecture.
In effect, the business user has ownership of the data, with preparation and governance still resting with the IT department. Saliter calls this "the end of the end user."
Because solutions can be up and running in weeks and early users in "start-small" projects enthuse to colleagues, QlikTech has continually experienced rapid user adoption across clients' sharp-end staff.
The dashboard is customisable by the user with "what if" analysis facilitated and colour coding indicating what is associated with the search session.
A major UK life company has successfully used QlikView as a model to decide what goes into its Solvency II data warehouse.
Lockton needed to leverage data to enter new markets, increase revenues by supporting sales to sell more and retain clients, and enable clients to compare programmes, trends, and pricing-
the broker has won two awards for its QlikView applications.
A top 5 global broker deployed QlikView to over 2,000 users across 100 insurers via an online portal for sales performance benchmarking, credit rating analysis, bound premiums, renewals, lapse analysis, and customer satisfaction surveys.
A US insurer improved sales conversion rates by 25%.
Colonial Life has deployed around 100 QlikView applications in the last seven years. The insurer provided online access to sales and customer data to more than 7,800 sales agents and 400 internal users.
Two critical business applications went live at Standard Life in Hong Kong within 10 days with a return on investment achieved within three months.
The top five US p&c insurers utilise QlikView in the areas of agency, claims(including identifying fraud), financial, and IT.
Saliter emphasized that what makes QlikView unique is an "associated" user experience, its core technology, and its business discovery adoption path. QlikTech is the only Data Discovery vendor in the Gartner 2012 Business Intelligence Magic Quadrant.
Insurance Newslink will be keeping in touch with QlikTech's insurance industry progress.