Pan-American Life Insurance company of New Orleans has selected Computer Sciences Corporation's (CSC) version 3.0 Insurance Industry Data Model, which unifies multiple sources of information into a complete, logical representation of data across an insurance enterprise.
According to CSC, Pan-American Life will use the model to have a better picture of producer activity and productivity, and leverage that information for enhanced decision-making.
CSC said the model was expanded to include all necessary attributes for a global insurer, unifying information from all lines of life insurance, annuities, pensions, and property and casualty/general insurance business.
Pan-American Life chief information officer Karen Chauvin said the Insurance Industry Data Model will help the firm establish the foundation for a producer data mart, and the backbone for a corporate program that it began in 2010 called ‘Know Your Producer.
"The data mart will provide a consolidated view of essential producer information – both in the US and throughout Latin America – from a variety of sources across the enterprise," Chauvin said.
CSC life insurance and annuity division president Michael Risley said the Insurance Industry Data Model brings crucial data to the forefront, enabling carriers to enhance product development, distribution, risk management, business efficiency and financial performance.