Catalina Re is a leading provider of capital management and risk transfer solutions to the global insurance industry. They acquire life and non-life (re)insurance liabilities and provide risk transfer solutions for blocks of business where clients wish to improve their return on equity, capital position and profitability profile. Catalina is headquartered in Bermuda with a global operating presence.
As a leading global provider of Capital Management and Risk Transfer solutions, Catalina Re, periodically acquires new back-books of business from other providers. The company was undertaking a transformation programme as part of a strategic review and wanted to better understand and document how data flows into, out of, and around the whole group.
The priority focus for the exercise was defined through our core models, allowing a clear definition of the data framework and methodology that would be rolled out to the wider business.
Altus’s true partnership approach worked in step with Catalina Re to:
• Catalogue data sources with a description of
• access type,
• transformation process,
• data customers
• core reporting requirements
• Create detailed Visualisations of the end-to-end data process
• Provide detailed analysis of data inflows / outflows for in-scope functional areas / systems
• Develop the Report and agreed recommendations for next steps
The aim was to understand and articulate the data processes and usage within the enterprise. In turn, this understanding can be used to inform opportunities for efficiency and control enhancements.
To achieve this understanding, we worked with experts from across the business. Altus ran workshops to detail the end-to-end data processes and usage, along with the systems used to support the variety of data focused activities performed by the in-scope areas of Catalina Re.
A framework/methodology for understanding the data was defined and agreed, that can be applied to other areas of the business.
The Data Modelling and analysis exercise maps and categorises enterprise data owners and sources.
The Altus team, comprising of Data Analysts and a Lead Data Consultant, worked closely with Catalina Re to create detailed data flows and a data catalogue. Illustrating and detailing the data transformation (the journey through the organisation), storage and end users of the data.
Analysis of the current and to-be data culture was carried out, aiding in the understanding of opportunities for Catalina Re and resulting in a set of data principles enabling a data governance structure for the organisation to be built.
We ran regular meetings where we were able to obtain client feedback on the research and analysis. Combined with a series of interim reports we ensured the assets provided are useful for the business.
Over a 12-week period we delivered multiple data flows for 7 areas of the business, and a clear understanding of the corresponding data supporting technologies. The Catalina Re CIO team now have accurate information for the in-scope areas of the business, and a framework/methodology that can be rolled out to other areas.
Getting data “Right” was the key message from this work and Altus recommended next steps. These options focused on a number of pillars ranging from “Data Culture” and “Technology”. Building a robust foundation for BAU and an understanding to underpin change, putting data firmly at the centre.
