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HMA Selected NAVins for Microsoft Dynamics NAV ERP and the Business Intelligence Qlik Platform
The Company
Hellenic Hull Mutual Association (HMA) was founded in 1994 in Cyprus with the exclusive business goal of providing insurance services for vessels mainly owned by Greek and Cypriot shipping enterprises. HMA enjoys full reputation worldwide among top financial and banking organizations in the shipping loans sector, European shipping insurance brokers, and top-rated re-insurance organizations.
The Challenge
Within the framework of an organized effort of process improvement, and for the purposes of timely and accurate decision making, the issue of information systems’ upgrading was put forward. The information environment of HMA is quite complex, consisting of a large number of heterogeneous systems for every distinct division.
Two key resolutions were identified:
- Select the ERP solution NAVins for Microsoft Dynamics NAV, specially designed and adapted for HMA, to fulfil all modelling needs of its business entities and encompass the whole set of its operational requirements.
- Develop a Business Intelligence system on the Qlik platform, providing a dynamic information framework for specific managerial and strategic groups and divisions, drawing directly from data stored in NAVins.
The Project
The project covered the analysis, design and development of a series of reports using data from NAVins for Microsoft Dynamics NAV, including the appropriate infrastructure and assistance that allows users to create their own reports on a dynamic, user-friendly environment through the Qlik Business Intelligence platform. The reports play a fundamental role in the timely and accurate decision-making process, based on unified information from the central NAVins ERP system.
A key component of the project is HMA’s risk management approach. The strategy for analyzing and specifying risk factors is continuously re-adapted on the basis of reliable prognosis of future trends. In HMA, the process of pondering risk is realized through a state-of-the-art, specially tuned platform in which actuarial risk analysis is functionally blended with the standard approaches of shipping industry liabilities.
The main purpose of the above is the accurate prediction of the future shipping liabilities’ degree and frequency — a fact that corresponds to a fair yet sufficient and competitive insurance fee that both satisfies the members of the association and assures compliance with international regulations, which is crucial for HMA’s viability.
