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INSURANCE

 

The next 15 years will see an entirely different landscape of insurance products and services being offered to help us manage, predict and secure our financial security.
Digitally savvy, non-traditional insurance companies will focus their services on the user experience and in creating individually tailored products to compete with rigidly structured mass market offerings that provide limited personalization and value.
Battles will be fought and won over the ability to develop new and often disruptive insurance products and this will only be possible with new levels of data agility.

Insurance companies will need to deepen their understanding of their customers, to more accurately predict their needs and react timely upon them. Effective customer and product data management is key to support the change you may need to take.
Our insurance solution is STEP. A single technology that integrates product, distributor, location and customer data into a single place.

BENEFITS

 

PERSONALISE INSURANCE PRODUCTS

Digitisation and the data you can now collect gives you the opportunity to know your customers in far more detail, allowing you to develop insurance products based on need and value; essential when you consider that 80% of insurance consumers are looking for personalized offers:

  • Break the cycle of annuity based policies
  • Create differentiated and personal products at speed

MOVE FROM PRODUCT TO CUSTOMER CENTRIC

How can you help your customers live the sort of lifestyle they desire? How can you help customers prevent losses or act more quickly when events occur? It’s not about a pre-set list of products, it’s about what fits the customer. STEP allows you to focus more on the needs of the customer by:

  • Supporting automated underwriting initiatives
  • Ensuring your distribution network is up to speed on the latest offerings

ENSURE GDPR COMPLIANCE

GDPR changes the rules on how insurance providers can manage personal information, and you’ll need to provide clear reasons, in writing, as to why you’re keeping someone’s data, whether they’ve consented to it and proof. STEP integrates customer data into a single place to ensure you’re able to:

  • Increase collaboration between business and technical staff to meet governance goals
  • Introduce automation into data masking to reduce risk of personal data exposure
  • Quickly spot, monitor and protect sensitive data across all source types
  • Reduce risk with a single view of data subjects and manage consent

CREATE ONE VERSION OF THE CUSTOMER

Having policy holder data stored in multiple systems by different departments creates inconsistent and outdated information. This results in increased costs and efforts to obtain clean and actionable data. STEP acts as a main hub for all your information and helps you to:

  • Eliminate data silos caused by disjointed systems and databases
  • Improve quality and integrity by accurately integrating your data
  • Increase sales through more accurate targeting
  • Reduce IT involvement in data maintenance

 

PUT YOUR CUSTOMERS AT THE HEART
OF YOUR INSURANCE
PRODUCTS AND SERVICES

 

In this short webinar, you’ll find out more about data agility and its disruptive impact on the future of insurance

WATCH NOW

DIVE DEEPER

 

INCREASE CUSTOMER VALUE

STEP FOR INSURANCE

How to provide your customers with tailored and highly personal insurance products, every time

On-demand webinar

Data agility and its disruptive impact on the future of insurance