Data quality for insurers: policies and communications that reach their destination
A major insurance and financial group adopted Egon at the data capture stage and in customer master data management to verify customers' addresses, tax codes, email addresses and phone numbers, so that policy documents always reach the right recipient.
The challenge
For an insurance or financial company, a wrong address is not a minor detail. It means a policy document or a contractual communication may never reach the customer, with knock-on effects on complaints, relationship management and re-sending costs.
Data quality has to be guaranteed across very high volumes and at two different moments: when the data is first entered, and over time, as master data is updated or becomes outdated. The company needed a solution that covered both.
The solution
The client adopted Egon at two points in its process:
- At the capture stage (front end), to catch errors while data is being entered, before it reaches the archives.
- In management and data cleansing processes (back end), to correct existing master data and keep it accurate over time.
The results
- Reliable customer data that stays up to date over time.
- Faster delivery of policies and communications, with fewer returned mail items and therefore fewer communications that fail to arrive.
- A smoother customer experience.
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