Data Vera

Problem: Disparate data comes to insurers, brokers, managing agents, modelers and DUA partners. Data is usually formatted differently, by multiple data senders, even within the same type file format. Data values may be missing; entered incorrectly; or the data value itself could be inaccurate.

Modeling and underwriting efforts, designed to provide rate analysis on a per risk or per location basis, cannot fully utilize data analytics if there is a lack of confidence in the accuracy of the underlying data.

Response thus far: Data scrubbing is a manual process often involving highly qualified personnel charged with performing data analysis assigned the task of cleansing data needed for that analysis. The cleansing involves cell-by-cell correction of data errors and manual manipulation of data fields to conform to an output template. The process itself remains prone to error and requires multiple operations on a given data import to mold the output to multiple destination templates.

A better response: Data Vera changes the way an organization imports, validates and consumes data coming from any source. Data Vera imports, transforms, validates and auto corrects imported data and maintains a detailed audit log of each change made to each data value. Data Vera can export the cleansed, validated and audited data to a variety of formats with the click of a button.

What Data Vera does: Data Vera automatically converts imported data to data fields based on learned behavior. Data Vera imports and processes virtually any file or data including Excel, CSV, XML, Access, SQL, ACORD, Lineage, Lloyd’s, Bordereaux, SoVs, Triangles, Modeled data/result sets and aggregate data.

Data Vera builds complex validation and business logic rules for data validation, policy management and aggregates/caps management based on LOBs, zones, geography, perils, etc. Data Vera also automatically corrects data based on configured rules and learned behavior.

All changes to original data received are audited and color coded for ease of verification. Data Vera promotes a consistent and accurate data cleansing enterprise-wide standard regardless of whether data cleansing occurs in-house or via a BPO. E&O exposure may be lessened by sharing cleansed data and detailed audited change logs with partners.

Data Vera brings greater accountability to the data cleansing process by its ability to invite internal or external data consumers to collaborate online to either approve data changes or gain greater insight to the cleansed and validated data via custom built BI dashboards.

Data Vera is part of the Pivot Point integrated platform that includes data cleansing, policy management, accounting, claims, settlements, ledgers and comprehensive compliance reporting and business analytics. Exported data may be integrated via London Bureaux and ACORD standards.

How to access Data Vera: Data Vera is a web-based application and is available for immediate use. Data Vera is already deployed by licensees as a stand-alone data cleansing solution; in conjunction with extant off-shore data scrubbing operations and, or, with CATEX BPO services.

Key Advantages

Formats & Standards
Data Vera can import virtually any file format. These file formats can contain either standards based data (ACORD, Lineage, ER3001, etc.) OR proprietary/ user generated (Risks/ Settlements/ Claims Bordereau, Third party system exports, Triangles, Exposure Data, Event Loss Tables, Schedules, etc.) data. Data Vera can also export data in virtually any file type/format regardless of the format in which it was received. This means, for example, an XML bordereau file can be exported as an Excel Triangle file with the click of a button.

Audit Control
Each time a value is changed, whether auto corrected by the system based on learned behavior or by a user, Data Vera shows a strict audit trail that tracks all data changes down to a field level. This is a powerful feature that allows our client to ensure that any changes made to incoming data follows their own enterprise data standards. This is also an important feature if the transformed data will be shared with your business partners. By providing the original data file, the audit log, and the transformed data to your business partner, you gain a significant protection against E&O related risk. There is no other system in the marketplace that provides this level of audit control.

No Template Mapping
There’s no pre-processing of a file or laborious manual template setup required for Data Vera. You simply upload the raw file, as you’ve received it, and Data Vera will do the rest. As part of the file transformation, Data Vera analyzes every single imported field value and automatically maps that value to a valid system field based on learned behavior. Data Vera can automatically maps fields if they’re spelled differently, split across multiple rows, in a different order than previously sent, and even if the names are in a different language. Each field that’s automatically mapped is color coded and a confidence indicator alerts the user to any exception handling.

Proven Technology
Data Vera is developed from the ground up using Microsoft .NET technology. For the last 15+ years CATEX has been offering a variety of products as Software-as-a-Service (SaaS) from its purpose built SSAE-16 certified hosting facilities. All components of our SaaS offering are hosted on our 100% dedicated hardware. That means we have full control over the performance, reliability, and security of our hosted applications. We also offer near real-time remote site failover capability with complete data backups. We manage the entire technology stack (Hardware, Network, and Software) and can manage the entire business stack (BPO file upload services) so that you can focus on what you do best – manage your business!

Data Analysis
As part of the data validation process, Data Vera performs validations at a number of levels including field/data type validation, acceptable/unacceptable data values, value ranges, and business rule validations. The use of dashboards in the Data Analysis feature provide a visual representation of virtually any field being analyzed. For example, a dashboard can include real time metrics showing TIV by construction and occupancy types, Top 10 TIV Locations, Caps and Aggregation analysis, premium and claims breakdowns, etc. Dashboards allows users to quickly analyze hundreds and thousands of rows of data and easily identify any issues before the data is consumed downstream.

Extranet & Online Collaboration
Importing data from virtually any file format/layout, and validating it according to your enterprise data standards, is only half the challenge. The real work begins once you start to correct the data. Our extranet and Online Collaboration features are essential tools for this task. With Online Collaboration you can invite the sender of the data to our extranet where they can provide the corrected data with a few clicks. Not only does Online Collaboration eliminate all the manual back and forth emails of the missing data trail but it also creates a reliable audit trail of corrections tracked to the sender of the data. Our clients also use the Extranets to provide real time dashboards to their business partners to provide in-depth business intelligence on their book of business.

Performance & Scalability
Data Vera is designed to be a high performance computing application. Whether you have hundreds of files with few records or a few files with millions of records, Data Vera can handle them all efficiently. We have clients who process 1,000,000+ records files with over 300,000,000 validations, and 10,000,000 automatic data corrections. For most normal files (up to 5-10,000 records), Data Vera can import, validate, auto correct data where appropriate, and export processed data in seconds.