Optimising insurance management through advanced data architecture
Location
Melbourne
Industry
Financial Services
Services
Architecture Governance Review
Target Operating Model
The Victorian Managed Insurance Authority (VMIA) is a state government body that provides risk management services and insurance coverage to government departments throughout Victoria. Overseeing more than 90 policies, they insure over $201 billion in state assets, including public schools, hospitals, emergency services, and construction projects thereby supporting the infrastructure, essential services, and activities that benefit communities across the state.
The challenge
To increase efficiency and provide better services to Victorians, VMIA initiated a technical review of database processes and related procedures for managing claims. These changes would provide VMIA with increased flexibility to adapt to regulatory standards and demands for customised insurance products. Escient was engaged to support the review and create a data model to deliver improved reporting needs and lay the foundation for an enterprise architecture that optimised user experience.
The approach
Discovery phase
To inform the model design, workshops with key VMIA stakeholders were conducted to understand the diverse reporting and operational needs and applications of data across teams, enabling a human-centered design approach for creating conceptual and logical data models.
Data modelling and product analysis
The work progressed to developing a detailed physical data model, mapping key functions for data management to improve system reliability and streamline workflows. Concurrently, VMIA’s products were reviewed for consistency and consolidation opportunities to optimise processes and reporting efficiency.
Implementation pathways
Pathways for implementing the data model were explored through workshops and stakeholder engagement. Important details and considerations were then provided to the steering committee to help them decided on the best option to achieve a future state aligned with their strategic objectives.
The outcome
Equipped with a fit-for-purpose data model and sustainable enterprise design, the organisation will be well-prepared to operate with high data security and long-term accessibility. VMIA’s decision-makers received several artefacts, including the target data model, recommendations for consolidated products, and a report outlining implementation options with time, budget, and resource requirements. Together, these elements formed a robust architectural framework, to providing a clear understanding of the target state aligned with industry standards and best practices in the insurance sector.