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    Markerstudy: Achieved 120% increase in policy count in 18 months

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    Markerstudy, a leading UK-based general insurer and the winner of Celent’s Model Carrier Award for Data Mastery and Analytics, is driving growth and innovation with Cloudera Enterprise. The insurer is using its big data analytics platform powered by Apache Hadoop across key areas of its operation to gain customer insights (360 degree view), risk and underwriting and for real-time fraud detection and prevention.

    Overview

    Markerstudy Group, a leading UK-based general insurer, serves over 1.75 million customers.

    Solution

    The growth of cloud-based solutions, digital, and Internet of Things (IoT) requires a new approach to accessing and analyzing data of all types, age, and volume. Markerstudy Group realized early on that to differentiate and sustain its trajectory for growth, it must adopt a big data analytics strategy. The insurer uses Cloudera Enterprise and SAS Analytics. With its big data platform, Markerstudy has achieved significant ROI and results.

    With Cloudera Enterprise and SAS Analytics, we have the best-in-breed in big data analytics and Hadoop technology to drive growth. Our investment has already delivered gains and we believe that we are well-positioned to innovate further as our business needs evolve.

    Dan Fiehn, Group Head of IT (CIO), Markerstudy

    Impact

    • Reduced claim costs by £5 million through real-time fraud detection
    • Increased policy count by 120 percent in 18 months
    • 20 percent annual cost savings on updating rates which previously had to be done on 15 different systems
    • Recipient of prestigious industry awards: 2015 Celent Model Carrier Award; 2015 Data Impact Award
    Read Success Story

    Key Highlights

    Category

    Insurance

    Website

    Partner Website

    Locations

    Challenges

    • Capacity, storage, and traffic restrictions meant that older records had to be deleted
    • Data was managed and analyzed using separate platforms by different teams
    • Only subsets of data were available at any given time for analysis

    Solution Highlights

    • Hadoop Platform: Cloudera Enterprise, Data Hub Edition
    • Hadoop Components: Apache Spark, Cloudera Manager, Impala
    • High-Performance Analytics: SAS

    Applications Supported

    • Risk and underwriting, real-time claims fraud detection and prevention, Customer Insights (360 degree view)

    Impact

    • Reduced claim fraud with savings of £5 million
    • Increased new policy count by 120% in 18 months
    • Achieved 20 percent annual cost savings on updating rates which previously had to be done on 15 different systems

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