A platform for all business areas

Background and project goals 

Dalarnas Insurance Company previously worked with manual processes with Excel as support but concluded that a more robust person-independent tool was needed to support a business that is growing in complexity and scope. In addition, there was a desire to carry out the responsibility for budgeting and forecasting as well as monitoring the results on responsible managers within the organization, which was earlier handled at a more central level.  

The project aimed to create a common platform for all information to be distributed both internally and externally with quality assured standard reports, which can manage authority-controlled business plans, budgets, forecasts, results analyzes and reports.

Revenue budgeting per business area and letter item 

At the beginning of the project, the focus was to develop models for the budget process. Responsibility for revenue budgeting lies on the market side and is divided into the business areas Sak, Bank, and Liv.

It is important that the input in Mercur Business Control can be customized in different forms that reflect the business model for three different business areas. Within the non-life insurance part, Dalarnas Insurance Company is based on the current portfolio per type of insurance, so-called letter object, namely. traffic, hull, villa, home, business, agriculture, and so on, and indicate the number and amount. Furthermore, the stock change is calculated by entering index increases, premium adjustments, stock increases, and cancellations.

After the automatic calculation of various discounts, budgeted premium income is generated. Similarly, within Bank, the budget specifies volume and marginal per financial service that generates the bank's budgeted net interest income, and within the business area, Life Budget sells the new generates the compensation received from Länsförsäkringar Liv for the brokered transaction. 

Also, the system is designed to budget the various reinsurance pools for both received and departed businesses.

Reporting and analysis in the same system as the budget 

At Dalarnas Insurance Company, Mercur is integrated with the financial system Hogia and several operating systems within the respective business area Sak, Bank and Liv. With the help of the hierarchies created in Mercur, you can easily follow up activities on different levels.

With the starting point from, as an example, the resulting unit, it is possible to analyze at the overall level or divided into "private" and "companies" etc. With the "drill down" functionality, you can then flexibly analyze further on different grouped or individual code parts such as cost bearer, letter item, result unit, account, or employee.

In addition, just like in the input forms, you can in-depth analyze the transactions behind a value and get a picture of the scanned invoice on the screen. However, it has also been possible to accommodate the organization's wishes by creating key performance reports for target management and analysis as well as a market report where you can follow up sales month by month with clear trend indicators.

Within the Life Insurance section, it is also possible to analyze an individual seller and do a follow-up on a personal level.

Mercurs solution

System: Mercur Business Control

Processes: Budgeting, Forecasting, Detailed Personnel Budgeting, Monthly Reporting, Business Analysis, Goals and Key Figures

Other: Dalarnas Insurance Company uses Mercur Business Control with links to Hogia Economy and Hogia Salary and the electronic invoice management system Eyesys.