Barbican Case Study (Now part of Arch Insurance)

Insurance Companies use Anaplan to Automate and Improve Reporting Processes

Insurance companies often face the challenge of having to deal with lots of calculations of varying complexity across different departments. Many insurers have found that Anaplan helps them manage the challenges that comes with large, complex and business critical calculations, coupled with their need to provide internal reporting of results. Barbican Insurance Group has implemented Anaplan’s cloud-based business planning and execution platform bringing more control to their business planning and less labour-intensive reporting.

Collecting data and user inputs from many different departments can make reporting a slow and time-consuming activity. Using spreadsheets brings problems around tracking changes and having multiple people working from the same spreadsheet. If the calculations are found to be wrong, finding the error responsible can be difficult.

A number of insurance companies have found that automated simplified reporting structures accelerate the process so things can be done that wouldn’t have been possible with spreadsheets.

“The insurance sector is one of the world’s most heavily regulated industries and if a business can find a way to not only streamline the reporting process, but also make it more accurate, this represents a crucial competitive advantage. The Anaplan platform can offer such an advantage – our analysis function could be central to the growth of organizations in this sector.”

Barbican Insurance Group

Mentat Technology supported Barbican with their initial Anaplan implementation. Barbican’s objective was to use Anaplan to help with their reserving process, allowing them to calculate how much money should be held to meet all future claims. Anaplan now handles all of their reserving calculations and Barbican have expanded their use of Anaplan to include Financial Planning and Analysis.

“With Anaplan we can now aggregate up from the most granular level. This gives us greater analytical capabilities which facilitate more informed decision-making,”

said Alastair Lauder, Syndicate Actuary for Barbican Insurance.

“Our actuarial modelling process is now much quicker in terms of processing time, and as a result we are able to spend more time on the analysis itself. Reporting both externally and internally is now far easier.”

Following their successful implementation, members of the project team at Barbican have continued to recommend Mentat Technology as an implementation partner to other insurers who have wanted to start using Anaplan.

About Mentat Technology

Mentat Technology have been working with Anaplan since 2013 and are accredited as a Silver Partner. As one of the earliest Partner Consultancies in the UK, Mentat Technology has a highly experienced and skilled team of consultants who specialise in a range of industries and use cases.

Tarmac

Tarmac, a CRH company and the UK’s leading sustainable building materials group, moves millions of tons of construction materials by road, sea, and rail to thousands of customer sites every year. This complexity requires accurate sales and operations planning (S&OP) and financial plans to ensure efficiency and profitability. The company’s old process, based on spreadsheets and databases, lacked multi-user access and was hampered by its disjointed nature.

Tarmac built a Connected Planning foundation based on the Anaplan platform to streamline its S&OP and financial planning. Implemented with the aid of Anaplan Partner Mentat Technology, the new solution delivers dynamic stock management, greater visibility into material flows and inventory, and more accurate sourcing decisions. Thanks to connections across S&OP and finance, the impacts of planning decisions are visible throughout the process.

Using the Anaplan platform, Tarmac has shortened its monthly financial planning process by two weeks and eliminated hundreds of spreadsheets. The benefits have spilled over to sales forecasting, formerly a 16-day process that now takes only four days. “Our partnership with Anaplan has transformed the way we plan and forecast,” says Sam Fergus, Tarmac’s Senior Manager: Logistics Excellence. “It allows us to support our customer network across the country to ensure that they continue to have the right product in the right place at the right time.”

Tarmac chose Anaplan because the company needed a unified source of information that could span the business. The Tarmac team appreciates the fact that calculations and formulas in Anaplan are transparent, owned by the business, and easy to model.

The Anaplan platform enables Tarmac’s finance and supply chain employees to access the right data for their individual tasks while working with shared drivers, data, and goals, and establishes a solid foundation for the future. “Increasing our ability to deliver effective planning and forecasting is essential to helping us evolve our business,” Fergus says.