Sold by: GenpactÂ
A Cannonical Insurance Data Model (CIDM) is a design pattern used to standardize data exchange between disparate systems. In the context of property and casualty (P&C) insurance, it serves as a common framework that enables different applications to communicate effectively, eliminating data silos and inconsistencies. The purpose of a CIDM is to streamline data integration, enhance interoperability, and facilitate accurate data management across the insurance ecosystem.
Overview
Genpact’s Canonical Insurance Data Model (CIDM) helps insurers accelerate digital transformation by providing a prebuilt, insurance-specific data standard that integrates seamlessly across core platforms like legacy core systems, Guidewire, Duck Creek, and Salesforce.
Some of the AWS Products utilized in the CIDM solution include API Gateway, AWS Lamda, AWS Glue, Amazon S3 & IAM.
CIDM reduces integration timelines, improves data quality, and enables faster adoption of AI, analytics, and regulatory initiatives, all while lowering operational costs and risk. As part of Genpact’s certified Guidewire and AWS specialists, CIDM is a unique solution to address customers’ problems while migrating their legacy systems to modern platforms and third party system integrations. Genpact can deliver exactly the right-fit, cloud native solution to meet customers’ needs.
As part of Genpact's Guidewire and Data Practices, we have developed numerous data solutions for the insurance space with proven expertise.​ Our SME’s have in-depth understanding of P&C insurance business and market needs.​ CIDM offering cuts down system integrations implementation cost and time by 35% - 45%. This will enable customer to bring the data standardization to market at faster pace and utilize third-party capabilities to the fullest extent.
Highlights
- CIDM is less complex and more modular for core system transformation from legacy to Guidewire and third-party system integrations​. CIDM brings governed modeling for all lines of business and functions.
- Reduction in data mapping effort - 30% to 40% to accelerate system integration development. Improve data quality – 20% - 40%. Future-proof for AI & Analytics with standardized data accuracy and consistency
- ACORD-Compliant mappings​. Accelerate Core system transformation to Guidewire​.
Details
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Delivery method
Deployed on AWS
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Support
Vendor support
Accelerate the CIDM implementation in customers' ecosystems with Genpacts predefined data models and frameworks. Contact Us: Shannon Travis, [shannon.travis@genpact.com ]