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The Home Building Compensation Fund (HBCF) is an insurance division of icare NSW. HBCF is mandated to provide data to the NSW State Insurance Regulatory Authority (SIRA).
They wanted to update their systems so that they could automate and digitally provide data reports to SIRA and reduce the admin involved in creating the reports.
HBCF manually prepared data files on a monthly basis and sent these to SIRA using sFTP.
The manual preparation of the files and the subsequent remedy of data issues took a full-time person 2 weeks every month and the data at SIRA was always out of date.
Create a real time data exchange experience.
Reduce the admin load.
Lodestone was engaged to assist HBCF to establish a real time data exchange with SIRA.
This real time exchange sends data directly from HBCF insurance systems when the data is created and updated eliminating batch files ensuring data is current.
Lodestone worked as part of a team with SIRA and others to create a service architecture integrated into the production platforms and SIRA services.
Lodestone lead the effort to ensure all historical data was migrated effectively using the platform and mechanisms were in place to monitor and remedy and data issues.
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