- Financial Services
Eliminating data silos to drive efficiency and growth in title insurance
Overview
Breaking down data silos for streamlined operations
Our client is a title insurance company that provides title, escrow, settlement, and related products and services. They have been in business for over a century and have grown to become one of the largest title insurance companies in the United States.
Due to the scale of their business, growth due to M&A, and fast pace of the real estate industry, our client had multiple systems for title and escrow processing based across separate geographical locations. This resulted in a series of data silos and data inconsistencies and frequent delays in delivering enterprise-wide reporting and analytics.
Our Solution
Implementing a scalable cloud data architecture
OneSix implemented a solution that uses a modern cloud data architecture that would reduce maintenance overhead, improve data quality, integrate data, and allow our client to scale as their business and data needs change over time.
The solution consisted of replicating all the data from various source systems into a data lake. The transformation layer was used to apply business rules, and clean, and consolidate the data into a data warehouse model solution. The new platform provided a new standard across the organization for data storage and information access.
Technologies Implemented
- Snowflake was leveraged to create a highly secure, scalable data lake and multi-tenant data warehouse environment.
- Rivery was utilized for acquiring data from various source types.
- Informatica was the core data transformation tech used to integrate and cleanse an individual tenant's data, loading it into the multi-tenant data warehouse in preparation for visual analytics.
- Power BI provided reports for actionable insights and trends.
Results
Unified data insights for efficiency, cost savings, and revenue growth
With the modern data solution, the client eliminated data silos, improved the data quality, streamlined workflows, improved efficiency, and increased their ability to make data-driven decisions. Using a single source of truth from the cloud data warehouse, the client generated consistent and accurate reporting across the organization.
The operations team created dashboards to identify trends and patterns in order volume which helped the client proactively plan for staffing and resource allocation. The revenue dashboards provided a near-real-time view of KPIs across various business units and geographical locations. The workflow dashboards and reports are being used to identify bottlenecks in the product workflow and improve turnaround time for client services. Together, these analytics tools have helped the organization improve efficiency, reduce costs, and increase revenue.
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