Meet the hero of the story: John, an Actuary at a Global Insurance Company.
A global insurance company with multi-national property and clients in many countries is made aware of a new potentially catastrophic situation.
Lack of Completion
The information is spread across different applications and some are sold within a region, others are sold as multinational policies, and others are related to individuals rather than locations.
John failed on his last catastrophe assignment because it took so much time to connect together and validate the information in the catalog. The company ended up with bad quarterly results.
Elena, the lead data manager, introduces Praxi Data to John. Praxi doesn’t require the same level of instruction or training as the products in the past.
The Power of Praxi
John identifies the information he wants and which data lakes and data stores are in scope for this, and then Praxi connects the relevant information to the source data without much training or instruction. Now John can focus on the implications of the data.
Accurate and Rapid Projection
After running Praxi and leveraging the Insurance Domain Model, John is able to calculate 3 scenarios for the natural disaster along with a probability and likely impact. He informs the team of the areas that will need coverage.