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FCCI Insurance Group talks with Experian QAS about their experiences with improving data quality, how they went about selecting a solution, and how their data quality has improved using Experian QAS products.
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© Experian Limited 2008. All rights reserved. Experian and the marks used herein are service marks or registered trademarks of Experian Limited. Other product and company names mentioned herein may be the trademarks of their respective owners. No part of this copyrighted work may be reproduced, modified, or distributed in any form or manner without the prior written permission of Experian Limited.Confidential and proprietary.
How Insurers Can Improve Data Quality
A Q&A with FCCI Insurance Group
Teleconference: Dial-in: 1-877-681-3373
Passcode: 9121161
© Experian Limited 2008. All rights reserved.Confidential and proprietary. 2
Welcome!Introductions and Overview of Today’s Session
Q&A with FCCI Insurance Group on impacts of address verification Today’s speaker:
Ruben Marte – Manager of Applications Ginny Swan – Systems Analyst Specialist
Data quality research Experian QAS product demonstration
Brian Sonneborn – Account Manager Questions from the audience
© Experian Limited 2008. All rights reserved.Confidential and proprietary. 3
Ruben Marte Manager of Applications
Ginny Swan Systems Analyst Specialist
FCCI Insurance Group FCCI provides commercial property and casualty insurance to
more than 17,000 policyholders in 14 states. Rated A- (Excellent) by A.M. Best Company, FCCI is headquartered in Sarasota, Fla. And has regional offices in Sarasota; Duluth, Ga.; Carmel Ind.; and Jackson, Miss.
The insurer started in 1959 and its products include automotive, property, general liability, workers compensation, and agriculture.
1. Will you introduce yourselves and your roles and give a brief overview of your organization?
© Experian Limited 2008. All rights reserved.Confidential and proprietary. 4
2. What are the internal, operational repercussions of bad address data? How does it hurt your organization?
Rework required deters from core job responsibilities
Inaccurate risk and model data
Costs add up from inefficiency
© Experian Limited 2008. All rights reserved.Confidential and proprietary. 5
3. How do address errors get into your system/processes?
Address data is provided by a customer
Errors occur when Agents and Call Center Reps type the information wrong
Misinterpret the policyholder’s address
Spelling or fat-fingering issues
© Experian Limited 2008. All rights reserved.Confidential and proprietary. 6
4. How did you start your address data quality initiative and ultimately select software?
Reviewed several solutions from providers Needed address verification and geo-location information Reviewed QAS Pro and QAS Pro Web tools and liked the
products Integrated into Guidewire and Vertafore QAS TigerZip data appends latitude and longitude information QAS Batch cleans and maintains existing database
© Experian Limited 2008. All rights reserved.Confidential and proprietary. 7
5. What was your experience training your staff to use Experian QAS products?
Very little training was needed Experian QAS staff trained
FCCI staff members
Users needed to get accustomed to workflow
© Experian Limited 2008. All rights reserved.Confidential and proprietary. 8
6. What results have you seen since implementing Experian QAS address verification tools?
Reduced returned mail Improved risk modeling Faster address entry
process Improved efficiency Reduced unnecessary
expenses
© Experian Limited 2008. All rights reserved.Confidential and proprietary. 9
Insurance Data Quality Statistics
Insurers maintain contact records to save costs, enhance customer satisfaction and increase efficiency
Missing or incomplete data, outdated information and spelling mistakes are the main errors in an insurer’s database
64% of insurers waste 6% or more of their annual marketing budget on bad data
Budget, staff errors, large volume of errors, and knowledge of changes are cited as the main barriers to accurate contact data
© Experian Limited 2008. All rights reserved.Confidential and proprietary. 10
PRODUCT DEMONSTRATIONQAS Pro
© Experian Limited 2008. All rights reserved.Confidential and proprietary. 11
QASProducts & services
Real-time verification Clean & enhance
Clean QAS Batch QAS Bulk Processing Phone & Email Batch
Enhance QAS Unify NCOALink®
Address QAS Pro QAS Pro On Demand QAS Pro Web QAS Pro API
Phone and Email QAS Phone QAS Email
Please visit www.qas.com for more information.
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