financial services data governance case study

Insurance Company Establishes Sustainable Data Governance Program

A financially strong insurance company established a sustainable data governance program to ensure consistent data definitions, privacy and an emphasis on customer data.

About

Industry: Insurance

Background: Through the company’s network of independent agents, this client offers auto, home and commercial insurance protection. Established nearly a century ago, the company and its affiliates serve policyholders across the United States.

Engagement Type

  • 12-week data governance (DG) assessment, including DG operating model, strategy, roadmap and initial meetings to start governance.
  • The client also requested additional support in the areas of data quality management and privacy.

Opportunity Areas

  • Our client tried to establish sustainable governance multiple times over the years. Before engaging with FSFP, it assessed the current state of governance and started building executive support. By the time First San Francisco Partners’ engagement started, the client had staffed its DG Office and changed Chief Data Officers.
  • Some key areas of focus for our client included consistent data definitions, privacy and a relatively new emphasis on customer data. Our client wanted support with its best practice education and templates.

Engagement Snapshot

  • Performed a short assessment, then moved into DG strategy, roadmap and metrics.
  • Developed operating model, foundational documents and artifacts for the DG program, including a vision and charter, RACI, education decks, standards and policies.
  • Trained in specific areas of expertise, including DG demand management, data privacy, data policy development, metadata management tool requirements and resolving data definition conflicts.

Impact

  • Full suite of tools and resources to establish sustainable governance.
  • Focused, organized and actionable data strategy and roadmap.
  • Significant progress made toward our client’s first-year milestones.
  • Client has the foundation, confidence and resources it needs to communicate the benefits and reality of strategic DG.

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