About this guide
Capturing some example use cases where the Demyst Platform was used to solve for a specific use case in the insurance industry.
Our client had a global strategic priority to improve application customer experience through pre-fill with the goal of better conversion rates. Having delivered programs to improve external data consumption before our client knew first hand how expensive and time consuming a DIY approach is and recognized that to scale out globally across multiple product lines they needed a partner with depth in external data onboarding.
- Mobilized a global team across Americas, Europe and APAC
- Ran cross functional workshops to identify to flesh out detailed use cases and priority data domains
- Conducted rapid data provider discovery, evaluation and diligence to identify best in class providers with local coverage and regulatory compliance
- Onboarded data providers, enriched existing customer base with bulk enrichment
- Setup APIs for real time applicant data enrichment
In the first 12 weeks of the project
- Data providers evaluated: 90
- Countries in scope: 9
- Data sources onboarded: 5
- Countries launched: 2
A global insure-tech firm was struggling with capturing a 360 view of their customers across key attributes. As a result customer lifetime value was suboptimal and customer experience was impacted by the inability to provide targeted relevant additional services.
- Leverage each provider’s entity resolution product to obtain enriched data, along with confidence scores, for each enriched record.
- Review matched records and determine appropriate confidence score threshold for each provider to return a high quality match.
- Combine results of each source for maximum firmographic attribute fill rate on each business.
- Customer match rate: 87%
- Data sources used: 4
- Fill rates of key attributes:
Number of employees: 94%
Yearly sales: 94%
Industry codes (SIC + NAICS): 94%
Number of locations: 84%
Credit score: 79%
Years in business: 94%
Updated 4 months ago