An insurer customer of ours had their agents do cold calling for assigned leads. Each lead had to be manually qualified by the agents leading to loss of time-efforts, productivity and low conversion rates. The lack of a 360-degree view of the customer further impacted the quality of interaction that the agents had with prospects.
Hexaware used a cloud-based partner MDM Solution, to merge all the duplicate contacts and build a relationship structure that identified the family members of the primary insured. Our in-house accelerator, iConvert, for data mapping and consolidation, was leveraged to transfer the entire 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 then assigned to agents.
This resulted in 2X increase in prospect conversion rates.
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