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Wipro to provide ETL solution to UK insurer

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CIOL Bureau
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BANGALORE, INDIA: Wipro Technologies on Thursday said it has won an engagement with Chaucer Syndicates, a specialist insurer at Lloyd’s - an insurance and reinsurance market - to deliver a data warehouse and associated Extract, Transform and Load (ETL) solution.

The solution will ensure compliance to meet the upcoming Lloyd’s 10-day reporting and management reporting requirements within Chaucer’s Solvency Smart Programme for Solvency II compliance, said a press release.

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The engagement will develop an end-to-end regulatory compliance solution that will generate better analytics and improved management reporting for Chaucer. The scope of the engagement is an end-to-end solution including process analysis and definition.

Wipro will be the sole vendor to deliver this capability. The delivery of this solution is closely integrated with the Finance and Actuarial Transformation initiative and overall Solvency II Smart Programme, currently running at Chaucer.

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Chaucer has undertaken this engagement to improve its ability to produce financial reporting faster and to produce incisive analytics. In this engagement, Wipro shall develop an ACORD (Association for Cooperative Operations Research and Development) based data model using Wipro’s Blue.Sky-Insurance analytics framework and 2i data warehousing methodology in order to accelerate engagement.

David Mead - COO of Chaucer Syndicates Limited, said, “We have engaged Wipro Technologies as a strategic partner for developing a technology platform to speed up the closure process substantially and ensure compliance to Lloyd’s 10 day reporting framework.”

He added that in order to cement the partnership, Wipro has also agreed to align itself to Chaucer’s desired business outcomes and Wipro will be a key enabler of the company's Financial and Actuarial Transformation Programme.