DataGalaxy enables Altima Insurance to improve data quality and meet regulatory requirements.
Altima Insurance, an insurance company and subsidiary of MAIF, insures non-life policies, mainly for private individuals for motor vehicles and multi-risk home insurance. Altima supports the MAIF Group’s strategy of strengthening its capacity for innovation and responding to partnership opportunities.
Visit their website: http://www.altima-assurances.fr
- Altima Insurance was faced with the challenges of data quality, regulatory compliance and risk management, in addition to the need to improve its customer experience.
- Implementing DataGalaxy enabled Altima to meet regulatory requirements, map thousands of pieces of data, and centralize this information for a comprehensive view of their data assets.
- The next stages of the project aim to increase the integration of Altima’s entire information system, and to further integrate the tool into the company’s business processes.
DataGalaxy’s strength lies in its ability to address different audiences within the company. When setting up a data governance system, one of the key points is involving the company’s stakeholders and their data acculturation. DataGalaxy has done a great deal of work to the user interface to encourage stakeholder involvement, and to support the adoption of the tool by taking into account both operational and technical users.
Project context & strategic challenges
The project was prompted by the challenges inherent in the insurance sector, which is characterized by both fierce competition and strict regulation. Altima Insurance was looking to improve its ability to comply with regulatory standards, in particular those of the Solvency 2 directive, which require optimal data quality.
The strategic challenges were numerous, including
- Ensuring regulatory compliance, in particular data quality and reporting to supervisory authorities
- Improving customer experience to remain competitive in the insurance market
- Making informed decisions
- Managing risk and preventing fraud, to ensure business continuity
Altima Insurance therefore began a “Data Quality” project, with a focus on regulatory compliance. The main objectives of this project were
- Set up a Solvency 2-compliant data repository
- Develop data governance and data workflow modeling
- Involve all the company’s stakeholders in a data-driven approach.
- Integrate Altima’s entire information system, with a data catalog as a central, shared platform.
The Altima Insurance Data Knowledge Catalog
Altima chose the DataGalaxy solution for two main reasons:
- DataGalaxy’s rich functionalities, which covered all of Altima’s data management needs.
- DataGalaxy’s intuitive interface, which enabled rapid onboarding and agile use of the platform by anyone in the company, whatever their level of technical expertise.
The DataGalaxy implementation took place in 3 stages:
- A three-person full-time Data Quality project team was set up, including a project manager, a Business Analyst and a consultant specialized in organization and transformation.
- The data was divided into batches to spread out the workload progressively.
- At the same time, the team played a coordinating and evangelizing role with Altima employees on data quality.
An agile approach enabled DataGalaxy to be implemented progressively and methodically, adapted to the specific needs of the data and business teams, while ensuring effective involvement of the whole company in the project.
The DataGalaxy solution
Why Altima Insurance loves DataGalaxy
- The DataGalaxy teams who are highly responsive, always ready to listen to requests for upgrades, and able to meet all needs and requirements.
- A comprehensive solution, easy to deploy, with regular updates.
- A dynamic platform driven by a community of users who provide feedback and raise issues and needs.
- DataGalaxy’s ability to respond to different employee profiles, whether highly technical or not at all.
“With DataGalaxy, we’re able to use the same tool to structure, centralize and share data between the various players in the company. Since the start of the project, we have been able to implement tens of thousands of pieces of data in DataGalaxy. In addition, hundreds of workflows and processes have been modeled in the tool.”
Altima’s technology stack