THE COMPANY

Hellenic Hull Mutual Association (HMA) founded in 1994 in Cyprus with the exclusive business goal to provide insurance services for vessels mainly owned by Greek & Cypriot shipping enterprises. HMA enjoys the full reputation worldwide by (1) the top financial and banking organizations that their main business is issuing loans for the shipping industry, (2) the European shipping insurance brokers, as well as (3) top-rated Re-insurance organizations.

THE ANALYSIS CHALLENGE

Within the framework of an organized effort of process improvement, as well as for the purposes of timely and accurate decision making, the substantial issue of information systems’ upgrading and empowerment was put forward. The information environment of HMA is quite complex, since it consists of a large number of heterogeneous systems for every distinct division.

The first substantial resolution was to select the ERP solution “NAVins for Microsoft Dynamics NAV” specially designed and adapted for ΗΜΑ aiming to fulfil all the modelling needs of its business entities by encompassing the whole set of its operational requirements. The second resolution was to develop a business intelligence system on Qlik platform to provide the dynamic information framework for specific managerial and strategic groups and divisions out of data that are continuously stored in NAVins for Microsoft Dynamics NAV.

THE PROJECT

Analysis, design, development of a series of reports using data out of NAVins for Microsoft Dynamics NAV, including the appropriate infrastructure and assistance that allows users to create their own reports, when required, on a dynamic, user-friendly environment through the use of Qlik business intelligence platform. The reports play a fundamental role to the timely, accurate and decision making process, based on the unified information out of the central NAVins for Microsoft Dynamics NAV ERP system.

The strategy in analyzing and specifying of the risk factors is continuously re-adapted and re-shaped on the basis of the reliable prognosis of the future trends. Every Insurance Enterprise tends to adopt a specific risk management model, which, nevertheless, is applicable within a given set of predefined parameters like quality, performance, clarity and consistency. In HMA. the process of pondering risk is realized through a state-of-the-art specially tuned in platform in which the actuarial analysis of risk is functionally blended with the standard approaches of liabilities of the shipping industry.

The main purpose of the above is the accurate prediction of the future shipping liabilities’ degree as well as frequency, fact that corresponds to a fair yet sufficient and competitive insurance fee that both satisfies the members of the association and assures compliance with the international regulations being crucial for HMA’s viability.