Industry
Financial ServicesLocation
Melbourne, VICStory Highlights
Improved cost management: With granular transparency into their Snowflake usage, the MLC Life Insurance team manages their costs with greater confidence.
Increased speed and performance: With the Snowflake platform, data processing tasks that used to take hours are now 4X faster — data is ready for consumption every morning by 8 a.m.
Faster development in a governed Data Cloud: Snowflake’s single, unified platform eliminates data silos, simplifies architectures and gives MLC Life Insurance the ability to develop quicker in one environment.
Video Transcript
MLC life insurance is there to be the safety net in people's time of need with life insurance, total to permanent disability and income protection in the order of magnitude about 1.1 million Australians.
Our goal is to be that safety net for every Australian who has insurance with us. Give them the I guess the comfort that in a time of need, we're there for them.
Data plays a more increasingly significant element of everything we do. Data is actually key to the core of life insurance a whole. It's an actuary led business which makes the decisions or determines the value of the organization. It's not like a normal company where you have profit and loss. It's effectively the mystery of the unknown. How many people have got to have claims and have incidents in their lives that require to make a claim and for us to pay those claims? And the core of that business is effectively data science.
The challenges we had, you know, moving from an on prem full warehouse environment to a single cloud-based environment for our data. The enabler was Snowflake!
There's a couple of reasons why snowflake was the one, one - control. We want to protect our data, two - cost, to deploy, manage deliver our data. And three Snowflake's data cloud enable us to move away from being a technology shop. We are now a data shop and that's all we deal with data.
Part of our migration was using Snowflake professional services to enable us to move off our legacy assets into Snowflake Data Cloud. All the moving, all the configuration and the automation. An integral part of how we got there so fast. Not to mention they were there to help us with all the challenges and all the questions APRA had, in our heavily regulated industry.
Some of the key outcomes. If I look back and say, where are we at now? One is cost. I can manage the cost and I manage it with great confidence. The other outcome is speed and performance. What used to take us many hours. We are now factors of four and more faster every morning. So our data's ready for consumption every morning by 8 a.m.
Snowflake also gives us the ability to develop quicker and buy that everything in one platform. Everything from data science, manipulation engine. You name it, we stay inside the environment, which is Snowflake.
If I summarize, I'm snowflake, what they've promised, they have delivered - it's capability, it's ease. Ultimately it's been seamless.
