Our client is a well-established insurance provider in the UK, offering services directly to consumers and through diverse channels, including Independent Financial Advisers (IFAs), brokers, and strategic partners such as trade unions and national societies.
The company operates in two primary areas of financial services. First, they provide general insurance policies covering a wide range of needs, including home, vehicle, business, and travel insurance. Second, they offer life and pension insurance policies, focusing on life protection, retirement plans, savings, and investment solutions.
The insurance company faced considerable challenges in managing its customer relations database, which had expanded to over 3 million records. The database was riddled with errors, duplicate entries, and missing or inaccurate information, hindering the company’s ability to market its services effectively, gain valuable customer insights, and maintain meaningful engagement.
Key challenges included merging multiple databases within the CRM into a unified database, entering data for approximately 130,000 new customers and accounts, and quickly cleansing the extensive customer records to support enhanced marketing efforts and sales.
These issues had a significant impact, making it difficult to track customer interactions and preferences. As a result, the company missed sales opportunities and experienced reduced customer satisfaction, contributing to a decline in sales over the past year.
Recognizing the urgency of the situation, the insurance company partnered with SunTec to implement a robust data management solution to resolve these challenges efficiently.
To ensure the accuracy and completeness of the client’s database, we employed a human-in-the-loop approach, seamlessly integrating automated tools with human expertise. Our team meticulously cleansed, standardized, appended, and validated the data while also inputting new customer information and segmenting the database. This segmentation empowered the client to deliver personalized marketing messages tailored to specific customer groups.
The human element in this process ensured thorough data checks for accuracy, resolving errors and inconsistencies comprehensively. This approach enabled the client to make informed decisions, enhance customer engagement, and drive increased sales.
