DATA INGESTION

Insurers, being in a data intensive business are involved in acquiring and importing large amounts of data in to their databases to predict risk and design enhanced, marketable products to cater to changing needs of the insureds.

The prevalent data ingestion processes are stressed toaddress the emergingdemands for dataingestion as the data is coming in various forms, granularity and speeds. Some of the most common data forms being presented to insurers are:

Latest tools and technologies provide a lot of opportunities to address the emerging demand. These technologies enabledata ingestion to be fast, efficient with minimal manual intervention.

MFX Ingestion Solution

MFX with its vast experience in providing solutions to P&C Insurers has developed a futuristic Data Ingestion Engine to help them overcome the following challenges:

  • Sourcingvarious forms of Data from External (3rd Party) as well as Internal (various Core Systems) sources
  • Collating/Merging Data from various Sources
  • Categorizing/Grouping Data based on Need
  • Ignoring Unnecessary Data
  • Mapping Source Data to Required Format
  • Transforming Data to Required Format
  • Broadcast/Multicast the Data to various destinations

Features of Data Ingestion Engine

  • ACORD (LexisNexis) Compatible
  • Configurable Business Rules
  • Ability to Ingest from Multiple Data Sources with Different Forms of Data
  • Batch and Real-Time Ingestion
  • In-Built Scheduler for Batch
  • Metadata Management with Business Glossary
  • Notifications and Alerts
  • Monitoring and Error Handling
  • Metrics collection and Analytics