The insurance industry is eagerly entering the big data arena, with more aggressive and creative strategies than ever before. Their early successes and experiences have laid the foundation for their move into data management, while taking advantage of new and emerging technologies. Customer service and risk management are key to the success of these programs. New digital tools are opening up avenues for insurers to touch customers and improve their service delivery. Data quality tools are allowing them better opportunities to identify risk and manage their exposure in the market.
Industry leaders are now increasing their use of digital tools to develop a 360 degree view of their market, which includes social media listening tools to better understand customer opinions. These tools are gathering data across the digital spectrum and their programs are now understanding the customer influences from all angles. What customers are saying on Facebook, Twitter and other platforms are becoming the preferred manner for communication by customers. A lack of responsiveness by Insurers or ignoring the social signals created in the digital arena will adversely affect the delivery of exceptional service. These are initiatives that totally encompass the digital spectrum and give insurers a 360 degree view of their customers needs, wants and desires.
Implementing those strategies will require a robust plan to marry data quality tools with the unstructured data in the social spectrum. The perfect solution for these challenges facing the insurers is, without question, Data Ladder. Their DataMatch Enterprise software is the right solution for the challenges faced:
- Proprietary matching algorithms with a high level of matching accuracy at blazing fast speeds on desktop/laptop hardware
- Big data capability with data sets up to 100 million records
- Deduplication and merge purge within and across any number of files
- Suppression of existing customers or Do Not Contact lists from marketing efforts
- Advanced record linking technology to create data warehouses
Go to DataLadder.com and download a free trial of this award-winning software.