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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.

Insurance Application Pre-fill Automation

Context

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.

Methodology

• 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

Impact

In the first 12 weeks of the project

• Data providers evaluated: 90
• Countries in scope: 9
• Data sources onboarded: 5
• Countries launched: 2

Improving business customer data

Context

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.

Methodology

1. Leverage each provider’s entity resolution product to obtain enriched data, along with confidence scores, for each enriched record.
2. Review matched records and determine appropriate confidence score threshold for each provider to return a high quality match.
3. Combine results of each source for maximum firmographic attribute fill rate on each business.

Impact

• 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%