LUMIQ Builds a Customer Data Platform to Accelerate Innovation for a Leading Life Insurer
For a large life insurance provider with 40 million customers, offering personalized customer interactions was key to enhancing engagement and improving customer experience. However, fragmented customer data across multiple systems posed a significant obstacle.
Challenge
The insurer’s customer data was scattered across numerous silos, with each department maintaining its own records. This lack of a unified customer view resulted in conflicting offers, missed cross-sell and upsell opportunities, and delays in responding to customer needs. The lack of standardization also slowed data flow between systems, complicating efforts to launch data-driven initiatives.
To support customer-centric initiatives, the company needed a robust, unified data platform to consolidate customer information, enhance data flow across departments, and improve collaboration.
Impact
LUMIQ implemented a cloud-based Customer Data Platform (CDP) that consolidated data from multiple systems, including CRM and PAS, into a single, unified customer view. The platform’s design facilitated seamless data sharing across business units, eliminating silos and creating a real-time, centralized source of truth for all customer information.
The platform enabled over 30 customer-driven initiatives by standardizing data from various channels, ensuring accurate and consistent insights across departments. Additionally, the CDP integrated a Data as a Service (DaaS) API layer to support secure, fast data exchange between the insurer’s internal systems and external partners, enhancing collaboration while maintaining data integrity.
To support scalability, LUMIQ designed the platform with modular architecture, allowing the insurer to extend functionalities as needed and adapt to changing business requirements. This customer data infrastructure enabled faster response times, improved agent productivity, and laid the foundation for personalized, customer-centric initiatives.
Results</b
- 40% Increase in Lead Response: Improved data flow facilitated faster lead engagement.
- 14% Boost in Agent Productivity: Timely and accurate customer insights streamlined workflows.
- 30+ Customer Data Initiatives Launched: Accelerated customer-driven projects and innovation.
- Single Version of Customer Data: Unified and reliable customer information across departments.