The Challenges
In response to the challenges posed by fragmented data and a lack of a unified customer view, a prominent Malaysian insurance company engaged VTC, a leading data engineering solutions provider. The objective was clear: to establish a 'Single Customer View' (SCV) Operational Data Store (ODS) based on the ACORD model. This initiative aimed to address critical issues affecting various aspects of the business, from customer service quality to marketing strategy.
The insurer faced significant hurdles due to the absence of a comprehensive 'Single Customer View' across its diverse general and life insurance systems. This lack of accuracy and consistency in customer data had far-reaching implications, impacting front-end digital channels, customer relationship management (CRM), analytics, and marketing. The resultant data inconsistencies not only affected the reliability of the information but also had a direct impact on customer service quality and overall satisfaction. Furthermore, the company struggled to generate meaningful customer segments for targeted marketing efforts.
The Solutions
To overcome these challenges, VTC proposed a phased approach involving the design, implementation, and deployment of a 'Single Customer View' Operational Data Store. The project was executed in three releases over an 18-month period, utilizing cutting-edge tools such as Informatica PowerCenter and Informatica Data Quality.
1. Informatica PowerCenter
This powerful data integration tool played a pivotal role in extracting, transforming, and loading (ETL) data from various insurance systems into the SCV ODS. It facilitated seamless data movement, ensuring the availability of accurate and up-to-date customer information.
2. Informatica Data Quality
Addressing the critical issue of data inconsistencies, Informatica Data Quality was employed to cleanse and standardize the incoming data. By establishing data quality management processes, the solution ensured that the SCV ODS became a reliable single source of truth for customer information.
Key Outcome Benefits
1. Increased Customer Data Quality
The project brought about a significant enhancement in the accuracy and reliability of customer data, resulting in a marked improvement in customer service management. Empowering customer service teams with access to a unified and consistent view of customer information, the initiative enabled them to deliver more personalized and efficient services.
2. Digital Customer Strategy Enablement
The SCV ODS played a pivotal role in realizing the insurer's digital customer strategy, providing a comprehensive 360-degree view of customers and agents across digital channels. This empowerment facilitated the delivery of a seamless and integrated experience, aligning with the company's commitment to enhancing customer engagement and satisfaction.
3. Enhanced Marketing Effectiveness
By establishing a reliable Single Customer View (SCV) Operational Data Store (ODS), the insurer achieved the capability to generate high-quality customer segments for targeted marketing efforts. This strategic implementation not only resulted in more effective marketing campaigns but also contributed to improved customer engagement and increased overall satisfaction.
Future Outlook
By addressing the challenges posed by fragmented customer data, the implementation of the 'Single Customer View' Operational Data Store not only improved operational efficiency but also positioned the insurer for greater success in the digital era.
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