Uzbinvest, in partnership with GlowByte, has developed a corporate data warehouse with a unified reporting system

2024

Enterprise Data Warehouse Implementation

The export-import insurance company "Uzbinvest" in partnership with GlowByte implemented a project to develop and implement a corporate data warehouse with a unified system of analytical, financial and management reporting. GlowByte announced this on November 11, 2024.

The solution allowed you to centralize the process of accumulating historical data and form a single slice of business indicators and providing data in the form of BI visualizations. These changes significantly increased the company's adaptability to modern market challenges and increased its competitiveness. In addition, advanced data analysis and artificial intelligence techniques have been enhanced, contributing to more accurate risk forecasting and the development of precision insurance products.

Each stage of our large project with GlowByte on the digitalization of "Uzbinvest" has its own features and even difficulties. In the end, an interesting challenge was the introduction in our company of a new methodology for working with data and automated approaches to their processing and use. This required deep involvement in the modernization of existing processes of both top management and business divisions, - said Rustam Azimov, General Director of Uzbek Investment.

The project also completed the technical task of integrating and collecting data from one accounting system that does not support the ability to directly access the source data. For this, special integration modules were developed.

The introduction of a single corporate data warehouse allowed Uzbekistan to improve the quality, completeness, accuracy and accuracy of the information collected, and reduced the number of routine operations in operation. Thanks to this approach, the company has formed a single source of reliable information for reporting. The solution became a driver for the development of analytical and management reporting and provided the basis for self-service analytics by business users without the involvement of external IT specialists. Thanks to the implementation of the project, "Uzbinvest" became one of the first companies in Uzbekistan as a whole and insurance companies of the Republic in particular, who introduces a culture of using data as a tool for making managerial and strategic decisions, - commented Evgeny Chernoburov, head of insurance practice at GlowByte.

Creation of an automated system for processing incoming reinsurance claims

Export-import insurance company Uzbinvest, together with IT partner GlowByte, has launched a project to automate the process of considering the risks of incoming corporate reinsurance using the artificial intelligence function, which includes parsing Internet resources. This was announced on June 13, 2024 by representatives of GlowByte.

The Ubbekinvest Reinsurance Automation Platform, developed and implemented by GlowByte specialists, uses automated collection and structuring of Internet resource information to search for additional data on risks assumed and already accepted in reinsurance.

The solution allows you to speed up the processing of the application by more than three times, reduce the number of errors when filling out the form, as well as increase the accuracy of risk assessment. In addition, the system automates information exchange with customers and partners, underwriting risks accepted for reinsurance, control and collection of receivables, portfolio analysis and reporting.

Automated processing of applications is carried out using language models: DeBERTa (natural language understanding algorithm) - to fill out the fields of the letter form, LLama - for Zero-shot assessment of natural disaster risks, - and specially developed integration services with mail servers and information systems "Uzbinvest."

Our large, phased digitalization project in "Uzbesinvest" began back in 2023, in June 2024 we began the next phase - we successfully launched the developed system for automating the processing of applications for reinsurance. If earlier our partner had to manually disassemble letters by e-mail and form an application for reinsurance, including independently fill out forms and assess the risks of natural disasters in a given region, now the application from the letter is filled out automatically, while an upper-level risk assessment immediately occurs. This significantly saves business resources and improves the quality of application processing, said Evgeny Chernoburov, head of insurance practice at GlowByte.

Before GlowByte, we made attempts with a number of other companies to introduce artificial intelligence in Uzbeinvest. These attempts were unsuccessful. And only with GlowByte we were able to achieve our goals, to develop and continue to develop the digitalization project so qualitatively. All this is due to the mobilization of the resources of our IT partner, expertise and leadership professionalism. 90% of our clients are tested through a scoring system using artificial intelligence Talys.SDE - we implemented this project at the end of 2023, but now we have managed to implement a platform that uses parsing of Internet resources, which allows us for all potential clients from the external market who are offered for reinsurance by large players, immediately get reliable information and immediately make a decision. It is this system that allows us to increase the number of processed applications by at least 3 times, noted Rustam Azimov, General Director of Uzbesinvest.

Uzvekinvest plans to develop the Ubbekinvest Reinsurance Automation Platform system. Several options are proposed, including further training of models on documents from the subject area, using the RAG method as a context model from the insurer's knowledge base, or connecting external data sources to improve the accuracy of risk assessment through the use of profile data.

2023: Digital Transformation Strategy Finalised

Export-import insurance company "Uzbinvest" together with IT partner GlowByte and expert in the insurance sector Andrei Krupnov has completed the development of a digital transformation strategy. GlowByte announced this on July 14, 2023.

The project was implemented during the first half of 2023 and consisted of three stages, as a result of which promising directions for business development were identified, as well as a number of business processes were identified for subsequent digitalization. A total of 8 key initiatives have been formed, a roadmap for their implementation for 2023 and 2024 has been drawn up. The set of measures developed during the project will provide Uzbek Investment with balanced growth and will allow not only to consolidate its leadership position in the market, but also to create a technological platform for the development of the insurance business in Uzbekistan as a whole - due to an increase in the level of penetration of insurance services, expansion of the product line, ensuring conditions for sustainable development of enterprises and growth of the well-being of citizens of the republic.

The joint actions of GlowByte and Uzbeinvest are active steps in creating synergy between insurance and digital technologies, forming the basis for long-term cooperation and growth of both companies.

The development of the Uzbek Investment business has led to the fact that the technological solutions used, and in some cases the business processes themselves, have turned into stop factors that block further growth and effective business management. A number of tasks provided for by the development roadmap of Uzbek Investment can be solved only on a fundamentally different technological basis, so we have laid down the most innovative solutions in digitalization projects, through the use of which we will be able to ensure qualitative growth in all types of company activities. Our ultimate goal is to make Uzbinvest the leading technology player in the insurance market in the region and beyond, "said Rustam Azimov, CEO of Uzbinvest.

Pavel Gamanyuk, Managing Director of GlowByte, stressed that digital transformation is seen precisely as a project in the interests of business, not information technology.

The digital transformation project is certainly a bright page in the development of both the GlowByte insurance practice in particular and the Uzbinvest company as a whole. It demonstrates our desire to move forward and develop the most advanced solutions for our partners not only in the Russian Federation, but also far beyond its borders. In the course of our work, we conducted a large number of interviews with the heads of Uzbinvest business areas, analyzed the company's key business processes, identified bottlenecks and identified areas of potential growth. The knowledge gained, multiplied by our industrial experience, eventually allowed us to offer the client the most relevant IT solutions in terms of functionality, cost and scale of business, "commented Pavel Gamanyuk.

The project laid the foundation for further work to improve the efficiency of the insurance company's business by optimizing processes and using modern digital solutions.

In the near future, it is planned to introduce several market-specific solutions, including those using complex language models, as well as other equally advanced tools for analytical information processing.