Amlin relied heavily on spreadsheets as a data-gathering tool, with the goal of achieving rapid response to constantly updated insurance scenario modeling information. However, the use of spreadsheets to input data from multiple users resulted in a workflow which suffered from frequent errors, and propagation of those errors, as well as the excessive elapsed time in the aggregation of multiple spreadsheets from the end-users. Furthermore, as the spreadsheets often contained highly proprietary information, they posed an IP exposure risk as well.
Using EASA, Amlin was able to significantly reduce the introduction of errors while greatly enhancing the efficiency of usage and protecting critical intellectual property.
Applying EASA has brought us significant savings in time through massive reduction in manual intervention, and greater accuracy of captured data.
Catastrophe Risk Manager Risk Assessment Manager & Monitoring Amlin Plc.
As in any organization, many key processes at Amlin are under-pinned by spreadsheets, largely because spreadsheets are easy to create, familiar to users, and flexible. However, lack of control means that the risk of mistakes and the cost of executing the process are unacceptably high.
Staff at Amlin identified one process particularly in need of better control – RDS, or Realistic Disaster Scenario.
RDS requires every agent to submit a six-monthly report to Lloyd’s, showing exposure against scenario and by insurance risk code. In AMLIN’s case, this means some 20 underwriters around the world must each submit reports.
Historically, this process has been spreadsheet-based; AMLIN underwriters complete and submit a spreadsheet cloned from a template.
Complicating this process is the fact that the data required by Lloyd’s changes on a regular basis. Hence a new template must be created, tested and distributed each time there is a change.
The issues which arise include:
Reducing the risk and cost
A solution requiring the complete elimination of Excel was considered. However, that would have required significant investment in building a database application, re-creating the business intelligence already contained in the spreadsheet.
Instead, EASA’s spreadsheet management solution offered a far more cost-effective alternative – allowing AMLIN to secure a master version of the spreadsheet on a server.
Users now access it only via a custom web application created with EASA’s codeless application builder, allowing a more natural work-flow.
Request a free project consultation with EASA so we can discuss your requirements and, if desired, provide you with a demonstration of the software.