Industries — Insurance
Contracts, claims and reporting on a historized, reconciled foundation.
A policy lives for ten years, a claim settles over several fiscal years, and the systems handling them change in the meantime. The challenge isn't centralizing everything: it's preserving the state of each object at every point in time.
The situation
The life cycle is long, systems aren't
Life, non-life, health, brokerage, portfolios acquired through a merger: each branch holds a share of the truth about the same customer, with its own product codes and its own notion of effective date.
Operational systems do their job — they manage the current state. What they don't do is preserve the succession of states: an amendment replaces the previous version, a provision is revalued, a product reference is renamed.
beVault does not replace these operational databases. It reads them, keeps every state received with its date, and reconciles business keys across branches.
What beVault historizes and reconciles
- Contrats
- Policy inceptions, endorsements and cancellations kept as a sequence of dated states, viewable at any past date.
- Sinistres
- Declarations, revaluations, and settlements historized, with the contractual context that applied at the time.
- Master data
- Customers, products and intermediaries reconciled across business lines using Business Keys, without imposing a single reference system upstream of source systems.
- Quality rules
- Declared in the loading process and measured continuously, rather than discovered after the fact in reports.
What you get
Pricing, claims management and reporting all rely on the same base of dated facts.
Technical analyses can look back in time without manual reconstruction. Management reports and prudential reports start from the same historized data, with the link preserved back to the source.
Relevant beVault capabilities in this context
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