An insurer customer of ours had their agents do cold calling to assigned leads. Each lead had to be manually qualified by the agents leading to lost time, productivity & low conversion rates. The lack of a 360-degree view of the customer further impacted the quality of interaction of agents with prospects.
Hexaware used a cloud-based partner MDM solution to merge all the duplicate contacts and build relationship to identify the family members of the main Insured. Our in-house accelerator, iConvert, for data mapping and consolidation, was leveraged to move all the customer information from multiple legacy systems and DataHub to the MDM solution. A C360 dashboard with only qualified leads meeting the underwriting criteria and having high likelihood of conversion is assigned to agents. This resulted in 2X increase in prospect conversion rates.