Bikmo and SageData Case Study
Industry: Cycling Insurance/ InsurTech
Bikmo is a market-leading cycle insurer, which mission to protect the world’s riders, and the places we ride. They are growing extremely fast, and now protect over 75,000 riders across the UK, Ireland, Germany and Austria, and they count the likes of British Cycling, Deliveroo, Brompton and Cyclescheme as partners.
They build awesome insurance products to protect customers for unexpected events, use technology to make taking out and managing your policy ultra-simple, and provide exceptional customer experiences through their team of bike geeks. Working with leading brands, athletes and partners, they want to inspire people to live better by riding more and being active in the epic outdoors.
When the company reached out to SageData, they were working with disparate data sets across multiple platforms and it was difficult to have a unified view of the business. The team was wasting time combining different databases and data sources in order to have a complete view of the business.
- ✗ time-consuming – high amount of manual transfer of data, as well as comparing sources and trying to find news/most accurate data source
- ✗ ETLs (Extract, Transform, Load) – not existing ETLs practices, in order to take data from one system, transform it, and load it into the organization’s data warehouse
- ✗ data pipelines – lack of pipelines for automated transfer of data from one system to another
- ✗ lack of unified dashboard data source – existence of multiple dashboards and reports, each one focusing on same metrics from different data source
- ✗ data quality – A best-of-breed technology approach coupled with the integration of acquisitions resulted in numerous data conventions and a need to manually replicate data across multiple databases, which contributed to the degradation of data quality.
All those challenges led to problems in data management, such as incorrect data or inaccurate data, especially when the data was provided manually. Furthermore, due to the numerous data sources, Bikmo was underutilizing their data and was not able to create an understandable picture of their business.
First and main task for SageData was to align clarify and align all important metrics and KPIs, which were crucial to understanding and driving Bikmo’s business and their position in the market environment.
- SageData data engineers have combined all of the data and connected it together.
- We deployed a dedicated DWH (data warehouse) with proper Data Architecture, with automated data management pipelines.
- SageData analysts then added transformations to calculate the KPIs and Metrics important to the management and teams.
- Our platform was deployed not only to combine and transform data, but also to monitor data accuracy and detect anomalies in the data.
SageData deployed an intelligent BI platform for Bikmo by rolling out the best tools for data management, part of SageData’s platform.
Furthermore, we have created unified monthly and weekly reports, which were updated and refreshed multiple times a day. This allowed each team to create a clear view of their business and their goals. Each department received distinctive dashboards, focusing on their unique activities and needs.
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Sales reports can group the revenue by geography, product, customer segment. Great for companies who started to expand into new markets
Finance metrics show overall health of the company and compare trends to the budgets and forecasts.
Results achieved for Bikmo with SageData
After implementing all the necessary steps for secure and intelligent data management, Bikmo’s team was able to process claims much faster using automated reports. The payment department extremely reduced the time of processing and following up on each case. All this led not only to an improved and more satisfying customer experience, but also increased the company’s revenues. The data enabled more ad hoc analysis that reveals new market opportunities.
Furthermore, management had a more clear view of how the company was acting vs. their target budget. All teams were able to react sooner and faster when they saw indicators for underperformance. We were able to save hundreds and hundreds of management hours, spent on analyzing different complicated and sometimes inaccurate dashboards, just by automating reports and data processing
Finally, Bikmo was able to achieve high data accuracy and finally trust their data, not questioning their numbers, but strongly focusing on their business.
Better to be put in their own words:
This is the fastest we have ever gone from 0 to insights. – Gary Bright, COO.
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