Marketing and Monetising Data within Insurance
Our client is a leading privately held insurance broker providing insurance, risk management, employee benefits and retirement services. With over 100 offices worldwide and a continually expanding client remit, expertly managed data became more and more important for them in delivering on their business goals. They therefore engaged DTSQUARED to develop their data management capabilities and deliver a long-term strategy that supported their wider objectives.
Our client wanted to market and monetise their data as part of their wider business strategy, however without a strong framework in place they found both accessing and extracting value from their data to be challenging. DTSQUARED helped the company take ownership of their data by:
- Carrying out an initial data maturity assessment to identify areas of improvement
- Implementing a core data team to act as a sole entity responsible for data
- Establishing a long-term roadmap towards greater data maturity and operationalisation
To address our client’s key challenges and help deliver on their business objectives, we carried out the following activities:
- Created a single client identity to improve accuracy and increase value in customer data
- Explored areas such as market share and competitor analysis to inform decision-making, particularly in sales and marketing
- Implemented a strong data governance framework to create pathways for improved reliability and efficiency
DTSQUARED prioritised the needs of this insurance company by understanding their current challenges and long-term goals and aligning these with their data strategy.
As a result of our engagement, this client achieved improved reporting, greater insight, and increased revenues in the span of just six months. Now they are able to continually extract value from their data, including beyond DTSQUARED’s project remit.