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Presented By:
The Learners’ Club
Nationwide
Insurance:
Unified
Financial
Reporting
and “One
Version of
the Truth”
Case Summary
• Nationwide Insurance
• Insurance and Financial
Service Co.
• In a span of 3 years
• Appointment of the trio
• CEO-Jerry Jurgensen
• CIO- Michael Keller
• CFO- Robert Rosholt
Case Summary
• Goal
• Make all BUs successful
• Million $ business Billion $ Business
• Problem
• Scattered Data
• Haphazard Financial Reporting system
• Difficulty in forecast, budget and report
Case Summary
• Solution
• Master Data Management (MDM)
• FOCUS (Faster On-line Customer-driven
User-friendly Streamlined)
• Tool sets
• IT Team Leader- Vikas Gopal
• 24-month
• SUCCESSFUL
Source : www.openlinksw.com/dataspace
Motivation
• To understand MDM and Data
Governance
• To check “Unified Version of the Truth”
• Challenge of Big Data
• To fulfill Course Objective
• Question 1
• Expertise and Experience of the TRIO
• Proper Planning & Systematic Implementation
• Strict adherence to Project Plan
• Pro-activeness -Change Management
• Question 2 : Difficulties and Scenario
• Non-unified, Inconsistent Data Management System
• Organizational Growth and diversified data
• Employee Resistance
General Ledger 14
Applications 50
Sources of Financial Data 240
Financial Reporting Language Multiple
No of Employees 36000
• Question 3 : Business Value
• Data Consistency, Unification & Synchronization
• Data Governance
• Accurate Picture of the Co. Whenever
wanted
• Time, Effort & Money Saving
• Competitive Advantage
Total
Regional
• Question 3 : Examples
• Close of Books 30 Days to 19 Days
• Installation of Geography-based Reporting Structure
• One region to another 9 Months to A few days
• Cost of IT
• Forecast and Budget (Possible No of Death Claims for
next year)
• Goal Achievement $1.1 bn (2005) and $2.1 bn (2006)
Lessons Learned
Nepalese Context
• Is there similar systems in Nepal?
• Yes and No
• Similarities
• Centralized Data Integration
• Data Retrieval System (E.g. CTBN Pumori IV)
• Differences
• Scale of Operation (Large Vs Small)
• Kalido and Teradata
Nepalese Context
• Recommendations
• Insurance Companies in Nepal (E.g. NLIC, Prime
Life Insurance, etc.)
• Telecommunication
• Banks like (E.g. KIST Bank, Nabil Bank, etc)
• Reasons
• Geographical Spread
• Scale of Operations
Nepalese Context
• Lessons for Nepal
• Understanding by Employees
• Change Management
• Nepalese Insurance Company
“I’ve got a very simple system and we’ve been working on
this for 15 years. Why are you disrupting my life?
(Employee)...” Roshalt (CFO)
THAN
K YOU
ANY
QUESTIONS?

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Nationwide Insurance mis case

  • 1. Presented By: The Learners’ Club Nationwide Insurance: Unified Financial Reporting and “One Version of the Truth”
  • 2. Case Summary • Nationwide Insurance • Insurance and Financial Service Co. • In a span of 3 years • Appointment of the trio • CEO-Jerry Jurgensen • CIO- Michael Keller • CFO- Robert Rosholt
  • 3. Case Summary • Goal • Make all BUs successful • Million $ business Billion $ Business • Problem • Scattered Data • Haphazard Financial Reporting system • Difficulty in forecast, budget and report
  • 4. Case Summary • Solution • Master Data Management (MDM) • FOCUS (Faster On-line Customer-driven User-friendly Streamlined) • Tool sets • IT Team Leader- Vikas Gopal • 24-month • SUCCESSFUL
  • 6. Motivation • To understand MDM and Data Governance • To check “Unified Version of the Truth” • Challenge of Big Data • To fulfill Course Objective
  • 7. • Question 1 • Expertise and Experience of the TRIO • Proper Planning & Systematic Implementation • Strict adherence to Project Plan • Pro-activeness -Change Management
  • 8. • Question 2 : Difficulties and Scenario • Non-unified, Inconsistent Data Management System • Organizational Growth and diversified data • Employee Resistance General Ledger 14 Applications 50 Sources of Financial Data 240 Financial Reporting Language Multiple No of Employees 36000
  • 9. • Question 3 : Business Value • Data Consistency, Unification & Synchronization • Data Governance • Accurate Picture of the Co. Whenever wanted • Time, Effort & Money Saving • Competitive Advantage Total Regional
  • 10. • Question 3 : Examples • Close of Books 30 Days to 19 Days • Installation of Geography-based Reporting Structure • One region to another 9 Months to A few days • Cost of IT • Forecast and Budget (Possible No of Death Claims for next year) • Goal Achievement $1.1 bn (2005) and $2.1 bn (2006)
  • 12. Nepalese Context • Is there similar systems in Nepal? • Yes and No • Similarities • Centralized Data Integration • Data Retrieval System (E.g. CTBN Pumori IV) • Differences • Scale of Operation (Large Vs Small) • Kalido and Teradata
  • 13. Nepalese Context • Recommendations • Insurance Companies in Nepal (E.g. NLIC, Prime Life Insurance, etc.) • Telecommunication • Banks like (E.g. KIST Bank, Nabil Bank, etc) • Reasons • Geographical Spread • Scale of Operations
  • 14. Nepalese Context • Lessons for Nepal • Understanding by Employees • Change Management • Nepalese Insurance Company “I’ve got a very simple system and we’ve been working on this for 15 years. Why are you disrupting my life? (Employee)...” Roshalt (CFO)