Customer Data Management for Insurance Accelerator
Posted by: Informatica Master Data Management
Informatica's Customer Data Management for Insurance Accelerator enables life and non-life insurance companies to shift quickly and easily to a customer-centric view of operations from a policy-centric view. The solution enables improved business outcomes for customer experience delivery, regulatory compliance, and marketing and sales activities.
Overview
Informatica's Customer Data Management for Insurance Accelerator simplifies the management of customer, beneficiary, and policy data across lines of business, regions, agents, and households.Built on the industry-leading multidomain Informatica MDM product and based on the ACORD Information Model, the accelerator for life and non-life insurance companies includes business rules to enable cleansing, matching, merging and validating master data.With the strategic management of data , insurers can begin to see the relationships in their data and gain valuable insights to:
- Identify insurance needs, better manage preferences, and improve how claims are serviced.
- Support improved customer support, marketing campaigns, analytics, and billing activities.
- Enhance customer experiences cross all interactions and channels, including call centers.
- Supports B2B/B2C customers, hierarchies, household entities
- Maintains relationships between policies, products, customers, households, agencies, brokers, and employees.
- Supports regulatory compliance through robust Death Matching rules.
- Provides for multiple policy systems to be notified by reports.
- Provides real-time access to the matched information.
- Identifies beneficiaries of deceased people for settlement of insurance claims.
- Supports B2B/B2C customers, hierarchies, household entities
- Maintains relationships between policies, products, customers, households, agencies, brokers, and employees.
- A comprehensive prepackaged data model to achieve results quickly and with less risk.
- Prebuilt business rules to automate cleansing, matching, merging and validating data.
- A user interface, dashboards and a workflow to streamline data consolidation.
Features
Comprehensive (extensible) data model based on ACORD
- Entities include : Party, Policy, Product, Insured Object/Subject, Household
Co-deploy Unclaimed Life Insurance Benefits Compliance Solution
Cleanse, match, merge and survivorship functionality
Versioning and lineage
Informatica Data Integration Mappings for consuming inbound data
Composite services for ?get? and ?search/match?
Realtime lookups
All Informatica MDM Features
Out-of-box reports for
- Error and validation
- Matches and updates consumption by policy systems
Robust rules package
Informatica Data Integration Mappings for creating outbound reports
JMS message configured for near-real-time notifications
Pre-configured hierarchy and relationship management
Security
Bulk manipulation (UI)
To realize optimal results, accelerator elements can be configured to suit your environment.
Current Version : 10.1Release Date : Aug 31, 2016. System Requirements:
- Informatica MDM 10.1 HF1
- Informatica DI 9.6.1 HF3
- Informatica BPM 9.2.4.1
- Comprehensive Data Model:
- 10+ core entity types
- 10+ relationship/hierarchy types
- Based on ACORD Information Model
- Derived from real use cases
- User Interface for data stewardship
- Services-enabled
- Data from thirds party feeds ? SSA DMF (Death Master File)
- Multiple source mappings created for handling internal in-force policy systems, claims system, third party admin data.
- Outbound reports and notification
- Robust Rules Package
- Data Quality, Match, Survivorship, Linking
- Out-of-the-box business user interface
- Includes organization and staff hierarchies
Comments (1)