Business Drivers for Insurance
For general insurers, it seems that change is the only constant. Established property/casualty and life insurers want to become more customer centric, but struggle with legacy systems built around policies. Clients want more choices for conducting business online, and faster, safer access to policy and claims information. New market entrants are driving pricing pressure. The time for action is now. General insurers must leverage their information as a strategic asset in order to adapt and evolve to dynamic market conditions.
5 Ways MDM Makes Insurance Companies Smarter
Master data management helps make insurers smarter. MDM enables insurance companies to connect disparate pieces of customer information across policy lines, business channels and service locations. Armed with a complete picture of the customer relationship, insurance companies can:
- Reconcile a client’s policy holdings, to determine the best opportunities for cross-sell and upsell
- Provide consolidated account information to customers, enabling convenient self-service at lower costs
- Identify relationships among affiliated entities, to better manage risk hierarchies and understand customer profitability
- Enable agent networks to offer multi-policy discounts and improve customer retention
- Accelerate the introduction of new products, bundles and promotional offers for target market segments
IBM InfoSphere Master Data Management helps insurers improve customer service and satisfaction, boost profitability, and increase strategic agility.
Solutions for insurance
Creating a single view of the insurance customer with data integration and master data management
Master data governance
Strengthen your master data management program with trusted data and continuous data quality improvement
Master data management
Explore how MDM’s well-defined approach augments the value of big data by giving it structure and meaning.
IBM InfoSphere Identity Insight for Threat and Fraud Prevention
Provides enterprises with unmatched intelligence about people and organizations – who they are, who they know, and what they do threat and fraud.