The insurer unveiled the benefits that the development of a commercial model that improves data quality could generate for a company in the insurance sector
On 26 May in Madrid, DEYDE organised an informative conference under the title Data Quality: Information as a reliable asset”, which was a great success. During the conference, companies from a variety of sectors had the opportunity to show how Data Quality had benefited the development of their business.
This is the case of REALE Seguros, an insurance company which has been committed to and benefitting from society in the performance of its activities for more than 185 years.
The business culture of the Group, which takes into account the particularities of each company, is based on the compliance with and respect for common values and principles, both in the relationships with and between employees, as well as in the relationships with the Partner/Insured-Customer, with the mediators and with the external stakeholders of the Group.
REALE Seguros, aware of the value of having a quality database in order to provide the best service to its customers, initiated an ambitious project in 2006 concerning the continual improvement of the data held on its insured parties, under the guiding hands of the Spanish multinational DEYDE Calidad de Datos.
And so, with the project defined and implemented, Miguel Cruz González, Marketing Director at REALE through his speech “Data quality in the management of strategic customers”, transmitted his experience of how the availability of standardised and quality data is vital for storing useful information, maintaining consolidated information on each customer and achieving an adequate segmentation. As he pointed out, “this allows us to fulfil the main objective of being able to perfectly identify the insured party, with each one of his or her contracted products to launch personalised campaigns, which are clear and reliable and focused on each group of insured parties”.
A commercial model based on Data Quality
The project carried out by REALE Seguros, is based on the integration of the MyDataQ software by DEYDE into their systems for the mass processing of the data of their customers, the performance of the verification, correction, deduplication and enrichment of its databases.
This project has allowed REALE to obtain benefits in the different areas of action of the company, such as knowing what percentage of the portfolio is contracted by men and which percentage by women, which zone has the highest concentration of family units; avoiding bothersome situations for the insured parties and expensive ones for Reale, such as the sending of duplicated notifications, as well as guaranteeing the quality of the data of customers from different portfolios incorporated as a result of the mergers and acquisitions of Reale; and in particular complying with the main objective which is to be able to personally identify the insured party, with each one of the contracted products and launch personalised, clear and reliable campaigns aimed at each group of insured parties.