Initiate Systems is a recognised leader in master data management (MDM) solutions. Our software provides a comprehensive view of a customer, household, company, policy and other entities by accurately identifying relevant records across disparate sources.
This comprehensive view unlocks value in your data for increased revenue, reduced fraud, competitive advantages and operational improvements.
- Initiate helps increase revenue through improved cross-sell and up-sell success, while enhancing customer service and reducing marketing expenses.
- Initiate helps you reduce fraud by identifying potential risks before an account is created and by improving accuracy of claims.
- Initiate provides reliable data to back-end analytics and reporting to identify and improve inefficient processes and operations.
The business benefits of MDM have been demonstrated across numerous insurance companies. They are reaping the rewards of increased products per customer or reduced call waiting times today. However, expansion is not always easy. Success depends on a shift from policy to customer-centric view of data across multiple product lines and the MDM solution you choose should be reliable, accurate and provide quick time to value.
Initiate's leadership is confirmed by more than 190 successful customer engagements. Recently, top industry analyst Gartner confirmed Initiate Systems as a "leader" in the Gartner 2009 Magic Quadrant for Master Data Management of Customer Data. Initiate is the only pure-play MDM vendor to be situated in the leaders' quadrant and exceeds all MDM vendors in "completeness of vision".
This acknowledgement validates Initiate dedication to provide a highly scalable, high performance, extremely accurate MDM solution that presents quick time to value at low cost.
For nearly 15 years, Initiate has partnered with customers to develop and validate a product vision that now defines market direction. To support the global needs of customers Initiate operates globally through its subsidiaries, with corporate headquarters in Chicago and offices across the US, and in Toronto, London and Sydney.
For more information, visit www.initiate.com.
Insurance organisations face the momentum of profound economic and legislative forces that are changing the industry while dynamic global economic conditions impose a permanent transformation of markets they serve. Initiate Systems is helping insurers create a very different future in this volatile environment.
The volume of customer and prospect data that they handle was unimaginable only a decade ago. Data enters the insurer in such great volumes with such disparity and at such high speed, it is essential to have a means of managing and analysing this data.
Initiate helps insurance organisations face these challenges to reduce operational costs, improve business processes and better serve and understand their customers.
Direct and agent-based channel optimisation
Aggregating customer and prospect information across disparate systems enables the delivery of accurate and comprehensive customer information at the point of service, which will improve customer and agent acquisition and retention, help strengthen customer interactions in your direct and agent-based sales force, provide insight into how well your channel is performing and increase the accuracy of offers, pricing and discounts.
Complete and accurate customer information will also provide an increase in sales performance as sales teams can focus more on prospecting and less on the sales cycle.
Initiate helps insurers:
- Streamline channel operations and create internal efficiencies
- Understand and optimise channel effectiveness
- Improve the quality of customer service and self-service interactions
- Improve the accuracy of offers, pricing, discounts through all channels
- Ensure consistent and efficient customer communications through all channels
Improve marketing performance
Expanding customer relationships by carefully increasing product and service penetration and average revenue per account is critical to business growth. Customer data can be an extremely valuable tool in helping you achieve this objective.
By gaining insights into what, why and how customers buy from your company, you can make better strategic decisions, such as identifying accounts with the greatest potential for growth, identifying the customers that are not the "right" growth, selecting the most marketable products and services based on customer buying behaviours, and more.
However, for these benefits to be realised, you need a single source of truth about your customers, which you can get from a data management platform that is accurate, integrated, up-to-date and easily accessed throughout the organisation.
Initiate helps insurers:
- Increase wallet share through highly targeted and effective direct, up-sell and cross-sell campaigns
- Identify compelling new products and service offerings based on customer propensity to buy
- Cultivate optimal customers to expand profitably ("right" growth) and avoiding high-risk customers