Scattered data that limited decision making
Over the last few years, Interseguro has been developing products for an increasingly demanding consumer, who has also increased their expectation of quality of service, who is informed from multiple sources and who is connected all day. In coherence with the increase in market competitiveness and with the company's challenge to evolve towards a data-driven organization, analytics projects began to be created, with the aim of making the most of data assets for the benefit of the business.
In that sense, Interseguro decided to solve the data management problem that persisted in the organization. It should be noted that a characteristic of the insurance market, as there are so few core systems (and so little developed), is that the data is usually very dispersed. Consequently, the company was prevented from accessing customer information related to what products it has, how many claims it has had, whether it has been up to date on payments, among others. “We had to resort to many systems, which not only presented us with problems from the point of view of using the data, but also not being able to take advantage of this consolidated information in order to create a better approach strategy with clients: responding to them. on time, refine and upgrade the way we contact them,” says Juan Manuel Casanova, Analytics Manager at Interseguro.
Certainly, Interseguro made use of many customer data capture systems, without a consolidated base and without knowing which system had the most up-to-date information. This seriously limited timely customer management for commercial cross-selling, policy renewal, prospecting and collection campaigns. “In short, we had contactability problems,” says Casanova. There were no updated visualization tools with robust architectures that enable more solid, governed, consolidated reports with a comprehensive (not so much vertical) view of each company's operational process.
The path to being a data-driven organization
Supported by Google Cloud technology, Xertica led the data & analytics project for Interseguro. The objective of the project: to concentrate various data sources (online + offline) in a data lake to tabulate data on clients, policyholders and prospects and, based on cross-analysis, perform better-defined monitoring. Which it was the result? More sales, better campaigns and the development of personalized products according to the profile of the prospect and the client. “Xertica gave us the opportunity to have a single provider that has Intercorp's corporate vision, so that what we build also has that vision, with which to achieve a single data governance for the benefit of the entire Group.”
The project consisted of a GCP solution that was based on a data lake that concentrated the entire repository of consolidated information of the company (through the different existing core systems) to, from there, take advantage of customer data for different purposes. business uses. The main use was to build a golden customer record. With the client at the center, all points of interaction between the client and the company were identified: policies, claims, campaigns, payments, contact information (with a prioritization logic). Some analytical solutions began to be built on this.
“Uses are falling,” Casanova highlights. At first, the data lake began to be used directly as a source of consultation. Subsequently, for marketing campaigns: “We have automated some queries that go directly and reach the email of the marketing areas to be able to send the information through the email marketing system. Thus, the information reaches the person in charge and they themselves send it to their base.”
The architecture designed by Xertica has given Interseguro a robust model that is based on a fairly complete data lake of the company's information underneath. “And that gives you the opportunity to use it however you want. In fact, if we are missing some information from the golden record for a particular use, we load it quickly and take it from the data lake. “Super robust, super flexible.”
Data-driven business decisions
Interseguro is in the midst of developing a viewer of transversal customer information on policies based on the solution. It is a report that solves the Service and Customer Management areas, so that any query about customers is taken directly from the viewer in question. This reporting is based on the information concentrated in the GCP data lake.
Beyond a technological improvement, Interseguro has leveraged the tools provided by GCP and implemented by Xertica to achieve business objectives (that is, directly related to the company's core business). In this regard, Juan Manuel Casanova comments: “We are doing all the campaigns based on the information from the golden record. From there, we create look-alike models to find clients with a special similarity to the ideal client we want to capture. With this look-alike, we look for these people throughout the company base in order to generate cross-selling (for example, offering vehicle insurance to life clients and vice versa).” Likewise, he adds: “It gives you greater immediate availability of customer information, which allows you to improve customer service ratios, average operation time, satisfaction, NPS, among others. Which in the long run impacts retention, loyalty and other indicators that allow the company to continue growing.”
- Benefits by business area:
- Marketing: better segmented and personalized campaigns.
- Digital: development of better segmented and personalized digital products.
- Planning: Business Intelligence based on data for decision making.
- Customer service: after-sales follow-up.
- Commercial: better quality leads that enable better closing rates.
Finally, about Xertica's consulting services: “When starting this project, we entered a world that we did not fully know. In fact, we are one of the first companies to have developed this level of architecture within the insurance industry. As expected, the project was extended beyond what was planned, without costing Interseguro a dollar more, which speaks of the commitment assumed by Xertica. That gave us a lot of confidence.”, concludes Juan Manuel Casanova.
