The Present and the Future: How Henkel Uses Business Intelligence
In terms of how Schwartzer and Henkel use the business intelligence tool, much of the focus to date has been on preparing submissions for renewals across the board, including property, casualty and financial professional lines. “We’ve found that compiling information for renewal applications has been much easier using the business intelligence tool,” Schwartzer observes. “We create reports in the business intelligence tool and establish them as a single template that we can return to when renewing a program. In addition, the business intelligence tool enables us to bring in additional points of data that we factor into the submission, which helps us secure the best terms and premiums possible.”
Making data work for companies like Henkel is the overriding purpose of the Ventiv's business intelligence solution, which is particularly important to Schwartzer when it comes to storing and sorting data and making it readily available when needed. “The tool gives us the ability not only to organize the data within the reports, but also to organize the reports in the system so they’re easier to find, keep track of and access, which means we can use the information quickly and easily. In short, the data is all there for us to use effectively and efficiently for the many and varied needs that we have.”
Schwartzer and Henkel are exploring additional uses of the business intelligence tool, including enhancing the dimensional view of data by making use of drill-down and linking functionalities. “The dimensional view would give us the ability to insert links directly into reports and then take the person accessing the report directly and quickly to different levels of data,” Schwartzer says. “This could save a tremendous amount of time now spent looking at the report, going into another system to look for the record in question, looking at that record, closing the system and then going back to the report. It’s a whole new level of functionality to be able to simply click on a link to get the details you need.”
As Schwartzer noted, Henkel’s risk management team is typical of the profession in many of its roles and objectives. As is clearly demonstrated in his team’s use of the business intelligence application, however, Schwartzer and Henkel are far from typical in terms of their vision, aspirations and results for enhanced reporting and analytics.