A unique client/supplier relationship has sprung up between Gjensidige Forsikring (Gjensidige Insurance) and Kapacity. During the past three years, Gjensidige Forsikring has received help from Kapacity with building a new Enterprise Data Warehouse, designed to comply with new reporting standards from the EU.
The history of Gjensidige Forsikring dates back to the 1820ies and today, the company is one of the leading insurance companies in Scandinavia. Gjensidige is listed on the Oslo stock exchange and represented in Norway, Denmark, Sweden and the Baltic countries. The group employs approx. 3,510 people (2014).
The 682 employees in Denmark represent four different brands (2014): Gjensidige Forsikring, Nykredit Forsikring, Gouda Rejseforsikring and Byggeriets Forsikringsservice. The four brands offer insurance to private families, companies, farm holdings, municipalities and counties and have a total market share of 5.9 % (2014).
Gjensidige Forsikring entered into the Danish market by purchasing Fair Forsikring in 2006. During the next couple of years, the group first acquired KommuneForsikring and in 2010, the Danish FSA approved the takeover of Nykredit Forsikring, which at the time had approx. 230,000 customers. With the takeover of Nykredit Forsikring, Gjensidige Forsikring doubled their Danish market share overnight. Since then, the takeovers of Byggeriets Forsikringsservice, Gouda Rejseforsikring and Mondux followed.
With these aqcuisitions came the huge task of creating one overall business intelligence solution. Four different insurance systems, Data Warehouses and reporting solutions had to be brought together and integrated with each other, which was crucial in order to get the four companies to operate as one Gjensidige.
The goal and the strategy was to create one Enterprise Data Warehouse for Gjensidige’s activities in Denmark and Sweden with integration to the group’s overall BI architecture.
Gjensidige have and had a lot of internal human resources with the right skills to handle the job, but for different reasons, including the issue of flexibility, they wanted to team up with an external partner. On the other hand, Gjensidige were not interested in a traditional client/supplier relationship, or as Christian Weisbjerg, Department Director for BI Nordic at Gjensidige, puts it:
”We did not need a special project or consultancy model. What was important to us was gaining access to a fixed team of competent consultants who understood our way of working at Gjensidige…and of course, a solid overall business sense was essential”.
In order to secure the right partner, Gjensidige sent out a description of the job at hand to five different suppliers. Kapacity gave a good response, Christian Weisbjerg had a good impression of the consultants, and because the chemistry seemed right too, the cooperation began.
Since then, Gjensidige have had one or two consultants in the office at all times. These consultants take part in different short or long term projects and are allocated to the jobs at hand according to their specialisation. However, it is a particular group of consultants who work on the Gjensidige account:
”In time, Kapacity have gotten to know us really well, and they are very good at choosing the right people to suit our particular needs”, says Christian Weisbjerg and continues: “Kapacity’s consultants understand our challenges, and their independence of us is a big advantage”.
”We treat Kapacity’s consultants as our own people. This means that I expect them to reach for the same goals as the rest of our people and also to take responsibility within the organisation. Kapacity’s people fully live up to my expectations in terms of this”, says Christian Weisbjerg.
As mentioned, Gjensidige’s project is to build one shared Enterprise Data Warehouse to be used in Denmark and Sweden. It will be used to support the local need for analyses and reports, but also to support the Norwegian group Data Warehouse with general control information and more special data delivery for use with Solvency II.
Solvency II is an EU directory concerning solvency rules and risk management in insurance companies. Solvency II was ratified in 2009 and concerns new, shared laws on capital requirements in insurance companies and pension funds, which results in a capital requirement that reflects the companies’ risk profile better.
Solvency II sets relatively high standards for insurance companies’ ability to report and thereby for Gjensidige’s new Data Warehouse.
”Our Enterprise Data Warehouse is a never-ending job. As such, it is not one solution, but an on-going process continuing year after year. This is why it is of vital importance that Kapacity’s consultants are so highly skilled and particularly that they master an analytical approach to data. It is actually difficult to find people at this level, when it comes to Data Warehouse”, says Christian Weisbjerg.
Gjensidige also ask Kapacity to provide input on different issues:
”They know us well by now, so it is an extra bonus that I can ask them to provide feedback”, says Christian Weisbjerg and concludes: ”All in all, I am very happy with our cooperation with Kapacity. I am getting my money’s worth, and we will continue to cooperate as long as we are satisfied with their services”.