More information about Storebrand
March 25, 2008
Storebrand Group is Norway’s oldest and one of its biggest financial services companies, and a leading player throughout Scandinavia. The company provides life insurance, pension products, commercial retail banking, and asset management to many of Norway’s largest companies, as well as to private individuals, municipalities and public sector entities. I thought it would be good to spend a few moments to dig deeper into some of their performance improvements:
- Order processing time has been reduced. For example, an application for a license to implement a pension plan previously took up to three weeks. It can now be completed in 10 minutes.
- Faster processing gives Storebrand the ability to handle five times the number of customer orders. Much of the manual data re-entry done by individual departments has also been eliminated, leading to fewer mistakes, higher quality and more efficient customer service.
- In the past, when storing XML in a CLOB, certain reports took between 24-36 hours to run. Now with DB2 pureXML, these same queries take between 20 seconds to 10 minutes to run.
- The time it took programmers to prepare for a search process shortened from one week to one half day.
- In the past, programming the search processes took 2 hours with shredding and 8 hours with CLOB-stored data. Now with DB2 pureXML, these same programming tasks take 30 minutes.
- Updating the schema is also much quicker. Adding a field to the shredded data took a day of work (development and test), but a week of real time because of the processes involved with database changes. For DB2 pureXML all that is needed is to change the pointer to the schema in an XML configuration file, which takes 5 minutes.
- Storebrand also achieved a 65 percent reduction in the amount of I/O code by converting 20 of its services to pureXML.