Increase Visibility into Existing Policyholder Relationships with a Customer-Centric View of Your Business
In today’s volatile market conditions, standard products and services are heavily commoditized. Customer needs are changing rapidly while your competitors constantly look for ways to take your business. In this challenging environment, it’s critical to have a customer-centric view of your business to attract, retain, and grow profitable and sustainable relationships with customers, agents, and partners.
But several industry realities stand in the way of achieving a customer-centric view. Among these are years of operating in standalone business silos; incompatible data formats and standards; and the lack of integration and governance of key business data, including customers, policy types, policy codes, brokers, and agents at an enterprise level. These impediments make it impossible to get basic information about customers, severely impacting business downstream and making a customer-centric view more difficult.
The Informatica Customer-Centric Master Data Management Solution for Insurance
The Informatica customer-centric master data management (MDM) solution for insurance provides a single, holistic, and trusted view of your business by integrating customer information across all policy classes. It provides views of relationships among individuals, households, policy families, agents/brokers, and employees.
With this customer-centric MDM solution, you can:
- Increase productivity by providing business users with access to this information directly from their business applications or through a single Web-based interface
- Ensure consistency and reporting accuracy through integrated support of the latest ACORD XML data standards
Key Capabilities of Customer-Centric MDM for Insurance
Unlike other master data management and customer data integration offerings, the Informatica customer-centric MDM solution for insurance provides a single, comprehensive platform for accessing, integrating, cleansing, and governing your customer data. It furnishes a customer-centric view of each relationship across business lines, enabling you to attract and retain insurance customers and to grow revenue.
The Informatica customer-centric MDM solution for insurance features the following capabilities:
- Industry-leading master data management including:
- Prebuilt yet customizable insurance industry data models to relate customer, policy, and agent and/or broker information from internal and external systems
- Identity-matching-and-resolution engine to accurately identify unique customers and their related data across languages
- Preconfigured dashboards and exception management tools for customer data stewards to manage master data tasks and omissions
- Business user-friendly hierarchy management interface to view relationships among customers, policies, agents, or brokers across all policy holdings and services
- Enterprise data integration to efficiently capture, transform, and integrate existing data—regardless of source, format, structure, type, or latency—from internal and external systems, to and from the hub
- Robust data quality discovery and profiling for data stewards and analysts to identify data quality errors from upstream systems
- Data quality management and governance to continuously maintain the trustworthiness of data, correct errors, and manage ongoing data quality performance
- ACORD XML data transformation engine to align data with the latest ACORD standards using automated feed management and exception monitoring