Zurich Insurance Group enhances internal reporting process with fuzzy matching and list cleansing

Company Profile

Zurich Insurance Group Ltd. is a Swiss insurance company, commonly known as Zurich, headquartered in Zürich, Switzerland. The company is Switzerland’s largest insurer. As of 2017, the group is the world’s 91st largest public company according to Forbes’ Global 2000s list, and in 2011, it ranked 94th in Interbrand’s top 100 brands. It is organized into three core business segments: General Insurance, Global Life and Farmers. Zurich employs almost 54,000 people serving customers in more than 170 countries and territories around the globe. The company is listed on the SIX Swiss Exchange. As of 2012, it had shareholders’ equity of $34.494 billion.

Business Use-Case

Andy Green, Statistics Manager for Zurich NA, was responsible for resolving conflicting data within its core mainframe database. In the insurance industry, having payee names aggregate and match are critical for the functioning of various payment processes. Their current system did not have a hard edit function where payee names can be pre-populated so those managing and entering information in the database can just key in any type of information. If any query was run against the main data warehouse, a long list of duplicate information would pop up. The result? Vendor names were not being aggregated appropriately, causing massive headaches and operational inefficiency.

Solution

Due to the stringent standards of the insurance industry, the constant need to police and monitor data requires clean, usable information. Using Data Match Enterprise™, Data Ladder’s flagship data software, Andy was able to use fuzzy matching to reconcile the payee names. After using the data cleansing portion of the software to remove all special characters and spaces, he then used a unique identifier on each record in question. From there, he went back and was able to replace all of the payee names with a solid vendor name. In sum, Zurich were able to do the following:

  • Reconcile payee names using fuzzy matching capabilities
  • Remove special character, spaces, and more with the Data Cleansing & Standardization module
  • Create a unique ID for each record

Benefits of DataMatch Enterprise

Create accurate and confidential reports for the industry

With best-in-class data cleansing and fuzzy matching capabilities, combined with customized training by Data Ladder specialists, Zurich NA was finally able to create several confidential reports required by the industry, something they were not able to do before when importing large quantities of data.

Fulfill data cleansing and fuzzy matching needs with confidence

Requests for DataMatch™ software are becoming more frequent within the organization. With the support and backing of the company’s Chief Financial Officer, DataMatch™ has become the go to resource for data cleansing and fuzzy matching needs.

Correctly process payments without human errors

With the ability to constantly monitor data and locate certain records quickly, they could use DataMatch™ to look at information and make sure that payments were processed correctly and without human error.

“As part of the insurance industry, we have to provide internal reports. We could not do these reports before. Now, DataMatch™ has become a main staple in my suite of tools that I work with!”

– Andy Green, Statistics Manager

About DataMatch Enterprise

DataMatch Enterprise is a user-friendly and powerful software that helps business users across many industries manage their data more effectively and drive their bottom line. Our enterprise-grade matching tool has been proven to find approximately 5-12% more matches than leading software companies IBM and SAS in 15 different studies. Let Data Ladder be your partner in your next marketing campaign. Increase your sales by offering data cleansing services through DataMatch™.

To get started with DataMatch Enterprise for your needs, click Contact or Download Trial.

Want to know more?

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