Security Benefit Project

Security Benefit Corporation (SB) is a Financial Services holding company consisting of multiple business units in the annuity, retirement, and mutual fund businesses.  Security Benefit requested a business intelligence and analytics strategy to help it navigate the worldwide financial crisis.

Objective

Security Benefit Corporation needed to improve its ability to harvest critical business intelligence and operating metrics across its multiple business units.

Approach & Results

Balanced Growth developed an enterprise-wide Business Intelligence Strategy focused on delivering information and insights to help inform the company's business decisions.

A comprehensive solution framework was created to address the needs of Security Benefit's Life & Annuity, Asset Management, Retirement, and Third Party Administrator (TPA) businesses.  The strategy focused on creating and Executive Dashboard for information delivery in 6 key areas:  Operational Management, Product Portfolio Management, Business Development (Sales) Management, Asset Management, Financial Management, and Risk Management.

Each area of the Executive Dashboard included 4 to 8 key areas for measuring the health of that discipline.  For example, Operational Management included key domains of measurement such as transaction statistics, service level metrics, and operational analytics.

The project also included a root cause analysis of issues to be addressed in order to enable the efficient delivery of the Executive Dashboard.

As a note, Security Benefit Corporation was acquired by Guggenheim Partners in 2010.