Implementing MDM To Boost Customer Services
How Systech’s end–to–end data management skills helped an insurance leader modernize data infrastructure and gain holistic view of customer
Who we worked with:
A key player in the Insurance industry, specializing in the aviation, retirement, and life insurance sectors.
What the customer needed:
A 360-degree view of customer to derive meaningful insights from customer information to service them better.
What the customer got:
- A centralized, data warehouse to store their raw and filtered data
- Modernized data infrastructure on cloud
- Self-service analytics for POS Management, Inventory Stock Management, K&N Mapping, and Vehicle Mapping functionalities
Multiple views of customer, policies, and transactional data
Inability to get holistic view and critical customer information was prolonging customer and product management time, affecting overall time to market products.
- Lack of centralized system for reporting made it difficult to generate holistic and consistent insights
- Siloed communication and data exchange between the retirement and life insurance divisions made it challenging and expensive to target the customer bases for campaigns
- Lack of business glossary made it challenging to track, execute, and strategize
- Absence of data governance leading to repeated and poor data quality
- Manual and Ad-hoc data capturing and preparation
Owing to a strong track-record in end-to-end business intelligence projects, Systech was tasked to implement MDM(Master Data Management) solution, modernized ecosystem and successful migration to the Cloud/AWS. As part of the engagement, Systech was also to develop Customer Data Hub to achieve actionable customer insights surrounding business performance.
Implementation of an MDM solution is the first step to a clear view of the organization
Following the Systech MDM strategy, the team created MDM solutions to unify, cleanse, standardize, de-duplicate and govern master data. This solution enabled flexibility in information transfer between various applications and department. The solution factored in more control to serve as an efficient tool to bridge the gap between Data Producers (i.e., Enterprise Apps, Cloud Apps, 3rd Party Data, IOT, Social data, etc.) with Data Consumers (i.e., portals, analytical apps, dashboards, reports, etc.) and get a 360-degree reporting view around each master entity.
Adoption of a modernized framework
- Built new ingestion framework to allow quick onboarding of any data ecosystem
- Implemented centralized data transformation, quality, and security policies under one single platform for the enterprise
- Implemented certified Data Catalog, to increase data trust factor
- Enabled effective cloud storage to allow the user to retain historical data required for deeper analytics and timely decisions
- Established comprehensive connectivity to application on-premises and cloud alike for seamless data exchange
Solving Customer data complexity
- Data Sources. ~30+ data sources, including all internal and external applications and 3rd Party Data
- Raw Data. ~500+ raw data tables, ~100+ data files ingested into ecosystem
- MDM/CDH. ~200+ tables (Facts/Dimensions/Aggregates/Graphs) created for entire CDH ecosystem including Customer MDM
- Data Pipelines. ~800+ jobs, maps, scripts, etc. created to build the CDH ecosystem
The team implemented Customer Data Model, which represented the complete customer lifecycle. It factored in attributes like communication preferences, training levels, certifications, demographics, industry profile, and even their main contact at the enterprise to assemble a clear view of customer behavior and laid foundation to actionable insights.
Data governance and compliance
Built Data Governance Program to prioritize, organize, and set standards for data quality. It focused on eliminating duplicate and inaccurate metrics, and establish a security framework concerns to ensure the industry data standards.
- Agile, elastic, and highly available platform conducive to quicker integration, faster innovation, for a fraction of the cost
- Accelerated insights surrounding business performance enabled consistent, accurate data and enterprise-wide Digital Transformation
- Strengthened cross-domain integration between customer and finance
- Eliminated operations in siloes and created a unified front
- Improved data quality
THE BUSINESS IMPACT
- Opened avenues of growth via M&A, increased market share
- Improved customer engagement, transactions, overall customer lifetime value
- Boosted marketing and sale performance
- Effective Cross/upselling strategy of a products in the portfolio
- Enabled targeted marketing campaigns effectively and profitably
Looking to the future ahead…
Systech remains a trusted and reliable partner of this key player in the insurance industry and continues to customer’s data analytic needs.