The challenge
Admiral Group plc, a prominent player in the insurance industry, sought to enhance their risk management processes amidst a global presence and diverse portfolio. The need for a more streamlined and efficient reporting capability led them to Ideagen.
This complexity of their operations was creating a number of challenges:
- Report creation was time consuming
- Risk aggregation was inconsistent and managed through separate spreadsheets
- This led to low user adoption among their teams – which in itself was a risk
They needed a more streamlined and efficient risk management solution with a better reporting capability. The search for a solution was on.
The solution
Admiral’s criteria was clear, they needed:
- Customizable and drillable reporting features
- Centralized risk data management
- User-friendly interface ensuring better end-user adoption
The benefits of Ideagen Risk Management were apparent almost immediately. We can produce reports in a matter of minutes, keeping senior executives informed about Admiral’s top risks.
The outcome
With Ideagen’s support, Admiral Group:
- Transformed risk management into a centralized system, creating a single source of truth for enterprise risk
- Enabled stakeholders to identify and manage key risks efficiently through unique portals
- Achieved quicker and more informed decision-making with real-time updates and flexible reporting
- Improved executive oversight, allowing the risk team to take a holistic view of the organization's risk profile
The results
Admiral Group turned risk into resilience, with tangible benefits to their teams and operations:
Reduced report creation time significantly
Improved risk data aggregation
Enhanced user adoption
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