Beating the data delay and building a financial value faster for financial services.

A delightful dive into the GIG Saudi success story with Incorta by Abdullatif Abdulkarim, Senior IT Governance & Change Manager during Incorta No limits.

Abdullatif Abdulkarim explained how GIG Saudi revolutionized its analytics processes, saving months of manual work and achieving unparalleled efficiency and value creation with the help of Incorta’s platform.

Transcript:

In the next session, we would like to introduce Mister Abul Latif Abul Karim, the senior IT governance and change management, manager, at GIG, who will present in Corta's inspiring success story there showcasing how they concur data delays and accelerated financial value, creating creation within the realm of financial services, discover the strategies and insights that propel GIG to the forefront of innovation, driving efficiency, and delivering value in record time. Mr. Abdul Latif, the floor is yours.

Hello, Marley. Come everyone. Hi. Good afternoon.

Well, my name is Adilatheh Abil Karim, from GIT, and today, I'm gonna take you through a short story of how we have beaten the data delays using Encorta.

But, I want you to, answer individually some of the following questions just to make the slides more digestive and easy to be understand.

I know that most of you is working in the IT sector.

So, if I ask you, how many reports do you usually receive as a request from the, business users.

Is it five, is it ten, twenty reports? How complex to develop these reports?

Is it coming from a single data source, or is it coming from multiple data sources?

Do you require a vendor to do it, or is it going to be done in house?

Why did I do why did I ask these questions because a three thing, a request that is coming from a business, usually it requires, time, efforts, and to have, to build a system like in Corta that allows you to come to to complete these reports and serve the business demands, fast and accurately is considered to be as a high, technological thing.

I want you I want you also to imagine the following scenario.

You have a meeting and you are late for that meeting.

And you've been offered to, buy two cars, a nineteen sixty car or a twenty twenty four new branded car. Which one will you pick to arrive to your destination?

Is it the old one or is it the new brand one?

The old new car represents our old data architecture as it was complex.

It was lengthy.

If you want to have a report, you need to write from six to twelve, a thousand lines of of of code. Just to get a single report.

Aside to that, it's a time consuming effort consuming.

And if you are relying on a vendor, as you know, yeah, most of us are having vendors outside the kingdom. It's not local, right? So Sunday, they are off. So you'll receive a request on Sunday morning, but you cannot start working on until Monday. So a lot of constraints, and this was our previous data, architecture.

Adding to that, whenever these queries runs, usually it creates impact on the system, right? So it's a slow your business.

If you want to have it, you need to do it after the working hours, not before that.

So what we have done with, within Corta, our new, our new data architecture.

Now, if you want a report, you can get it within five easy.

We have connected multiple, data sources, so you don't need to go to the vendor and do development, etcetera.

All the data is there. You can add filters as much as you want, create the customized dashboard for So our new data architecture has more accuracy, less dependent on IT, And the most important thing for finance for the CEOs, it's cost less because with the previous architecture, you need to pay for each vendor and this is, this is a headache with the, with the CFO.

So I want to just give you, an overview of what we have done within Corta. This is just a smaller statistics.

Nowadays, we have two hundred and twenty eight dashboards, and we have data of, three hundred and seventy four million records.

Our data size is around two hundred gb.

We have connected twelve systems and applications, and this is only just covering seventy departments.

Still, we have around ten departments to go. So imagine how the data will, will look like after that.

I want you just to, take a look on the, below a chart as a part of our engagement efforts, and also, you know, whenever you are introducing new things and you change our technology, business usually, resist to to accept data change. And this is what's the case. So basically, if you can see now In January, our total views of users, the dashboard and reports was around twenty eight thousand. While in December, it was nearly doubled. Why? Because the user has seen the benefits that they, that they require, have seen that it is more customizable, more re reliable for them, and it gives them the data accurately and fast.

So slowly, slowly, we are gradually improving.

This is just a use case of our motor leasing dashboard.

So the motor leasing dashboard, the motor leasing business line is one of the most critical business line business lines that we have in GIG.

So basically to support our team, we have created a dashboard that allows them to check the data for the motor, leasing business line from variant of resources.

They can get whatever information they need within a clicks. They can drill down, to the lowest possible points to understand this transaction is coming where from and hitting to where they can even get some insights from these reports.

Another example is Nafeez.

And for those who doesn't know Nafeez, Nafeez is is a platform that has been launched by the Council of Health, the CHI.

And the thesis acting like a middleware between the medical providers and the insurance companies. So whenever there is, there are a transaction is happening from the medical providers or the insurance company, Nafeezus is always in the middle. And I do remember once we started Nafeezus projects, it was headache because, with the mistakes that you, that you commit, you get penalties.

This was, painful for us. So we have created the dashboard. I'm sorry that the dashboard is is this is just part of it, but to do the sensitive information, we have removed the rest. So then a phase dashboard basically loves the health team to check all the transactions that is happening between, our systems and the fees. And they can investigate each transaction sense. So if the patient is in the hospital and, they needed support, we can support them quickly.

The case before, before in Corta, our health team used to open multiple system just to investigate a single case. Now, what is, they can drill down they can see all relevant information through a single dashboard.

The third use case we have is regarding the medical claims. You know, as an insurance company, we like to insure you, we like to take your money but we don't like you to raise the claims against us. Right? Claims is is is, the claims is is is considered to be bad for insurance companies. So, we created a dashboard in in Corta that collects all the claims all the medical claims that is is is coming to GIG, and allow the medical team to analyze these claims in detail So we can understand, for example, the top ten reasons for claims, what kind of genders that they are raising the claims what is the nationality, etcetera? It's a lengthy process, it's a lengthy, comprehensive data.

We use it in in in multiple ways to, improve our, fraud detection, mechanism.

We use it also to identify whether do we need to increase the system, or sorry, the server, resources to adapt the, with the number of extensions that is is is coming to us.

This, this use case was actually, was actually one of the most complicated use case. Is.

As an insurance company, we are regulated by the, insurance authority, or previously, we used to be regulated by So they requested us to provide them with a quarterly report, and that report is consuming a six point five days on average just to get that report done. Can you imagine that? So if we are talking about, in in a whole year, we are spending almost a month just to prepare this port. Each quarter is taking it from us six point five days.

The report is very lengthy. It it contains a comprehensive data, summary and detail of all the insured member, their benefits, the providers, their types, etcetera.

So if we take one example, just to get the first, layer of of of this report, which is the policy's better client.

We need to design three complicated queries, each query for the targeted year.

And we have to run that query.

After the business working hours, And after that, we summarize all the data, put it into a single Excel sheet, and then finally calculate the, the required KPIs and data.

So apply the same thing for the other, for the other categories.

So what we have done within Corta?

Well, within quarter now, this report that's used to consume us six point five days in each quarter, now we can do it in minutes.

Can you imagine that?

Well, before with the previous architecture, the vendor is not available. The resources is not available. They cannot take leaves. But with this one, everyone is in peace. Basically, whenever, our team or the insurance authority or escalators is requesting that report, you can get it within seconds.

So in conclusion, Our old car, the nineteen sixty one, used to, put us in a lot complicated situations, a lot of constraints.

We, you do not have the ability to, drill down, you did not have the ability to complete a customized dashboard, a customized, date up.

However, with the new technology within Corta, you can do more and beyond. You can create customized dashboards for you. Each user can also, create a customized view for them.

The ability of having, a centralized platform that's compiling all the data sources into into a single data source is is is phenomenal.

So, I hope, I was, not boring. It was a short story. I was just sharing our journey, within Carta, I would like to thank you all, for your time listening. And also, I would like to thank Encarta for, preparing this symposium. I wish you, pleasant evening. Thank you all.