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Customer data integration from IBM
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| Become more customer-centric
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Different versions of the same facts—policies, claims, demographics—exist in multiple applications. Each application has just a partial view of the customer. Information may be outdated and incomplete. Customers do not believe the company “knows” them. Customers are inundated with irrelevant offers. The IBM customer data integration solution can help you clean and consolidate customer data. Improve service. Enhance marketing efforts. Identify potential fraud. Meet customer needs. Improve efficiencies. Become more customer-centric.
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| Rely on a leader with insurance industry experience
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IBM possesses the consulting and integration expertise, as well as the proven technology you need for a successful customer data integration solution.
- IBM has years of extensive experience developing business solutions for the banking and insurance industries.
- IBM consultants have insurance industry experience in specific areas such as new business acquisition processes, marketing, advanced analytics and customer servicing, so we understand your needs and can help you implement the most appropriate solutions to address them.
- Meta Group recently named IBM as the leader in the business intelligence/data warehousing marketplace based on our comprehensive offerings in data management software and consulting services.
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| Leverage clean, enriched data for operational efficiency
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Implementing the IBM customer data integration solution can help you clean up your enterprise data to improve operational efficiency.
- Help ensure customer data is:
- Comprehensive—a rich and robust record exists for every customer.
- Consolidated—only one record exists for each customer.
- Help ensure each customer's information is:
- Correct—all facts are true to the real world.
- Complete—all facts are present, only once, across all channels.
- Current—all facts are up-to-date.
Cleaning up your data and providing all channels throughout your enterprise with one view of your customers can offer many benefits.
- Provide consistent multi-channel customer service by arming your representatives and agents with a complete view of the customer, so they can provide more personalized, streamlined service.
- Eliminate duplicated efforts in maintaining multiple copies of customer information.
- Cross-sell and up-sell more effectively by knowing your customers, their needs and buying patterns—sales are shown to increase by identifying customers as part of households with similar or related needs.
- Enable effective niche marketing and event-driven selling.
- Understand the dynamic nature of customers as they move through life and product cycles.
- Determine customer profitability and value so you can focus more time and resources on high-value customers.
- Share information across your enterprise and business partners in a timely manner.
- Improve legislative compliance as well as risk scoring and risk management with an integrated portfolio view for each customer.
- Retain customers by improving service and easy of working with your company—never ask for the same fact twice; reuse existing customer information.
- Reduce loss ratio by identifying potential fraud in core processes, such as claims.
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| Benefit from a unified view of customers
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At one large insurance company, separate business units managed their own product lines and maintained their own information systems. This led to inefficient and costly operations. IBM helped consolidate data from disparate enterprise systems and provide agents with a unified view of a customer's entire book-of-business.
Insurance agents can search for information on a customer-by-customer basis and find all the information about individual customers on an integrated set of screen displays. They can enter a single query and quickly determine what insurance and financial services products various customers are purchasing, and easily identify cross-sell and up-sell opportunities.
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| Improve customer value and lower costs
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The single customer view provided by the IBM customer data integration solution can help provide a strong return on investment by offering:
- Increased customer value with more effective up-selling opportunities.
- Higher customer retention and lower customer acquisition expenses through better, more personalized service and offers.
- Improved operational efficiency and productivity with improved data capture, less data redundancy and better collaboration across channels.
- Reduced costs to mail statements, marketing materials and compliance materials to customers with more than one account.
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Questions about this solution? Contact an IBM Financial Services specialist.
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