The insurance industry can no longer rely on snappy commercials and promotional deals to pull in customers; today the winning advantage is customer experience. In the past, insurance companies could rely largely on cost advantage, but today’s customers are different. Not only are they looking for a quality product and good pricing, but they want to be engaged by the company they entrust with protecting their homes, cars, pets, and livelihoods.

To this end, insurance companies are looking for ways to connect with their customers and prospects to deliver more personalized services. Insurance companies can utilize the mass amounts of data available to them to create a complete picture of their consumer outlining habits, relationships, and needs, driving more personalized service.

Obtaining a Single Customer View allows insurance companies to analyze accounts, relationships, and selling opportunities within a customer’s profile. This information drives engagement and customer satisfaction by providing offers and interaction that the customer may be interested in. According to Gartner research, “Poor data quality is a primary reason for 40 percent of all business initiatives failing to achieve their targeted benefits.”

A single view removes the hassle of pulling and analyzing messy data by breaking apart silos that skew important information such as accounts and coverage. A transformational graph-database creates a visual representation of the data for easy understanding. When utilized, Single Customer View offers the opportunity for insurers to pull practical information that can be used to target new and existing customers.

To learn more about Single Customer View and how it can be utilized across all industries, watch this webinar.