Delivering insurance with a personal touch through a single data platform
How can you translate data from a nationwide network and disparate systems, into a single data platform? We worked with our client to do just this – ensuring meaningful customer insights were consistently reported across marketing, finance, claims, underwriting and pricing teams.
Our client is one of the UK’s largest general insurers, offering a range of insurance and financial services products across both personal and commercial lines.
As customers’ needs increase and become more complex, our client required a deeper understanding of each individual to provide better service through digital channels. In particular, it wanted to let customers manage their different policies online, while better anticipating their needs and managing risk. This was challenging. Information had to be manually reconciled from disparate legacy systems – including a network of affiliated organisations. It was hard to prevent inconsistencies and get a single view of each customer’s relationship and interactions.
The company began a huge transformation – including new systems for policy administration, finance and digital customer journeys. It seized the opportunity to develop a new data strategy that uses data as a strategic asset, delivers unique insight and value to further enhance local, personal service and helps to provide market-leading customer experiences.
Building a single data platform
We worked together with our client to deliver a single data platform comprising over 180,000 data points from a range of source systems. The platform is underpinned by the new data strategy, data architecture and data products. It gives a single view of each customer – including all policies, claims and interactions etc – in near-real time from multiple systems.
Success came from data experts leading the project and working hand-in-hand with Baringa’s industry sector specialists to deliver the best results. We embedded ourselves within the client team, with no sense of ‘us’ and ‘them’. And we soon became a strategic partner.
Democratising data
Now, the client benefits from trusted data that’s much easier to share and reuse. Data is consistent across the organisation, and analysts spend 50% less time fulfilling data requests. With the introduction of a centre of excellence (CoE), a new data culture has emerged. Departments across the organisation collaborate more closely to gain deeper insights, which helps develop data products that are right first time and require less re-work after launch.
The company is now proud to be delivering its trademark outstanding customer service, with the introduction of new digital offerings and better tailoring to individual needs, ready for the next era of insurance.
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"I first came across Baringa four years ago, and they’ve quickly become one of our strategic partners. The people from Baringa are outstanding and they feel like part of our family. We really value the work they do for us and we love having them in the office."
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