Blue Cross & Blue Shield of Rhode Island

Sweeping regulations, fluctuating premiums, and other factors required insurers like Blue Cross & Blue Shield of Rhode Island (BCBSRI) to reinvent their approach to analyzing business performance. Adaptive pushed the company to think big—as in big data—when it came to making business decisions that promote corporate growth. Using the Adaptive Business Planning Cloud, BCBSRI has moved beyond the spreadsheet to now drill into company and overall market performance data, helping BCBSRI make quick adjustments and remain competitive in a fast-moving marketplace.

Challenges

Lacked an easy-to-use interface through which all stakeholders could clearly understand financial performance Had a complex cost allocations process Needed capability to analyze markets, products, and operations at a more detailed level

Results

Market benchmarking and analysis reduced from weeks to minutes with cube dimensionality and automated allocations Transformed a top-down FP&A approach to a bottom-up strategy with deeper performance visibility and accountability across the business What-if scenario automation with automatic updates and rollup to the corporate level for faster strategic decision-making.