With the ability to constantly monitor data and locate certain records quickly, Zurich Insurance was able to use DataMatch to look at information and make sure that payments were processed correctly and without human error.
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 top100 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.
Andy Green, Statistics Manager with 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 does 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.
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.
Our fuzzy matching capabilities were able to reconcile payee names
Remove special character, spaces and more with our data cleansing module
Create a unique ID on each record
With the 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.
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.
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.
During your 30-day trial, you can access DataMatch Enterprise risk-free. The software is user-friendly and easy to install – what you see is what you get! However, we recommend a 30 to 60-minute non-obligatory online consultation with one of our subject matter experts to help you get the most out of your free trial.