Date post: | 15-Jul-2015 |
Category: |
Technology |
Upload: | vinmdm |
View: | 68 times |
Download: | 3 times |
Changing needs of Insurance Industry
Lets take the case of Alex Ferguson a not so happy customer at XYZ Insurance
Company
Alex F New York
Alex Ferguson 10th Avenue Street , House No A-‐534 New York
Alex Ferguson Mail id :[email protected] New York
Car Insurance 1 Life Insurance Car Insurance 2
Broker Details Henry Williams Total Brokerage fee: $$$$
Broker Details Katharine Phillips
Insurance Policies
Lack of MDM leading to
Incomplete View of customer
Incomplete data for sales & markeVng team
Incomplete broker details
Improper data for claims seXlement
MDM challenges for service users MDM challenges for service providers
• Valuable informaVon like benefit and claim summary informaVon may not reach customers due to error in address details, incorrect mail ids etc.
• A member may have to call mulVple
Vmes to get informaVon updated in mulVple systems and mulVple products like life insurance , motor insurance, health insurance etc.
• Members sales data may be scaXered in different source systems , hence no single source to find the total sales made by a parVcular member over a period .
• No single view of exisVng customers which hampers markeVng and sales efforts of the sales team
But that’s just not the case today
P.S. We hate to be the one to bring the ‘BAD NEWS’
Well that would not be a compeIIve disadvantage considering all Insurance companies are on the same court
And that’s not a small problem
IT’S A BIG ONE
Don’t worry we have the
soluIon
Introducing Vin MDM’s revoluIonary Master Data Management suite
Managing Insurance Data was never easier
ERP systems
Broker system
Channel Partner Omni
ETL
Data ExtracVon
Data Discovery
Data Discovery
STAGING
Data Modeling
Data StandardizaVon
Data Quality Checks
Match Rules
De-‐Duplicate
Data Merging
Call center & many more
Mobile Apps
Marketplace
Brick & Mortar
Seamless data flow for Omnichannel
eCommerce
Increased Market share
Happy customers
Omnichannel ready
Supply Enterprise PIM Sell
Speed Time-‐To-‐ Market
Vin MDM –Master Data Management Suite
Lets run the back the data of our old friend Alex Ferguson aeer passing it
through Vin MDM
Alex F New York Auto Insurance ID: AUTO/035
Alex Ferguson 10th Avenue Street , House No A-‐534 New York Life Insurance ID: LIFE/991
Alex Ferguson Mail id :[email protected] New York Life Insurance ID: LIFE/991
Car Insurance 1 Life Insurance Car Insurance 2
Broker Details Henry Williams Broker ID: Henry/090 Auto/Life Insurance Customer ID : Alex/0036 Total Brokerage fee: $$$$
Broker Details Katharine Phillips Broker ID : Katharine/005 Auto Insurance Customer ID : Alex/0036 Total Brokerage fee: $$$$
MarkeIng
Sales & Service
Claims
Alex Ferguson Customer ID: Alex/0036 10th Avenue Street , House No A-‐534 New York Mail id: [email protected]
Insurance Policies
Well that’s a complete new picture
As for XYZ Insurance Company the good Imes have just begun !
We believe our dear friend Alex must be happy with XYZ
Insurance company !!!