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How DQPro Helped Markel Instil Data Accountability Globally



The Challenge:

As a truly diversified global insurer writing over $9.3B of premium globally, Markel faced a typical set of challenges in managing their daily data issues, including:

  • Managing data issues found at the technical “back end” with non-technical business teams in the front office, across multiple teams, systems, markets and territories.
  • Improving on cumbersome monthly exception reporting with manual, email-based workflow and a lack of visibility as to how and when issues were addressed.
  • Ensuring upstream accountability for data with relevant business users and teams.
  • Evolving from a traditional technical approach  to one embedded within a regular business user’s daily workflow, delivering company-wide ownership and adoption.

The Solution:

Starting with the Underwriting Services Team in London, Markel quickly deployed an initial series of 20 DQPro rules across 10 + legacy policy, exposure and bordereaux systems to demonstrate and realise immediate business value.  Driven by their Data Governance team, rules were then extended across multiple teams at Markel International; Compliance, Claims, Exposure Management and to their UK retail division, Markel Direct.  In 2020 the success of the roll-out expanded to a global roll out with usage expanding to Markel’s US headquarters in Richmond, Virginia.

The Results:

Deploying DQPro has transformed how Markel check and control their data, replacing traditional manual processes or overly technical, enterprise solutions by delivering:

  • Rapid Adoption Amongst Business Usersstarting with 50 users in London and expanding to a global deployment of 150 users and 200+ critical rules in 2020, with daily usage in UK, US, Europe and Latin America.
  • A Comprehensive set of 200+ Controlsnow helps support internal and external data audit, reducing audit preparation time from 3 weeks to just 30 minutes.
  • SLA Driven Accountabilityusers’ accountability for their data is now an integral part of their annual performance review process which is informed by DQPro.
  • Cost Reduction – by eliminating a lot of the manual, frictional cost associated with traditional exception reporting in terms of notification, timely resolution and evidencing the action taken, for example: $250k USD of premium income “saved” at renewal, ensuring acquisition costs are correctly assigned or flagging rate changes.
  • Evidence and Clear Reporting –  around  regulatory data controls required by the Lloyd’s Minimum Standards and Solvency II.

About Markel Corp:

Markel Corp (NYSE:MKL) is a market leading Fortune 500 insurer and reinsurer writing over $9.5B of premium globally  across retail, commercial and specialty lines of business. With a headquarters in Richmond, Virginia and over 18,000  employees, Markel Corp has a global reach with 76 offices in 21+ countries.