The document introduces a Customer Data Platform (CDP) designed to help insurance companies collect, unify, and analyze customer data to improve decision-making, marketing, and customer service. It highlights the importance of real-time data for personalizing services, optimizing risk assessment, and enhancing product development. The document outlines specific use cases, success metrics, and the phased implementation roadmap to support insurers in achieving their goals through effective data integration and analytics.

1. Customer Data Platform
Prasanna Hegde

2. Introduction
A Customer Data Platform (CDP) is a software platform that
helps businesses collect, unify, and analyze customer data
from all sources.
• Better understand their customers
• Improve marketing and sales
• Improve customer service
Importance :
Goals:
• Introduce the CDP and its importance to
the insurance industry
• Highlight the key features and benefits
of CDP
• Show how Insurance Company's CDP
can help insurers achieve their specific
goals

3. Insurance Company CDP: Why?
• Insurance companies need data to make better
decisions.
• A CDP helps insurance companies collect, unify, and
analyze customer data.
• This data can be used to improve marketing, sales, and
customer service.
Market Trends and Customer Needs
• Increased demand for personalized customer experiences
• Need to improve operational efficiency
• Growing importance of data-driven decision making
Background and Strategic fit
Insurance Company CDP: Alignment with
Strategy
Insurance Company's CDP will help insurance companies use data to improve their
businesses and deliver a better customer experience, aligning with Insurance
Company's mission and strategy of providing a unified, data-driven platform for all
insurance needs.
How the CDP can help insurers
• Personalize marketing and sales campaigns
• Improve customer service
• Reduce costs
• Develop new products and services
• Improve underwriting and risk selection

4. Specific Use Cases
Creating Better Insurance Products: The CDP
provides actionable data insights, enabling
insurers to tailor insurance products to specific
customer segments.
Quoting Competitive Premiums: Insurers can
make data-driven decisions on premium pricing,
backed by a comprehensive understanding of
customer risk profiles and market dynamics
Delivering Market-Leading Customer Experiences:
With a unified view of each customer, insurers can
offer personalized services, anticipate customer
needs, and resolve issues promptly.
Scope
How CDP Enhances Decision-Making
Real-time Customer Data: Access to live
customer data, including policies, claims,
and interactions, enhances decision-
making and customer engagement.
Data-Driven Product Development: The
CDP leverages customer insights for
creating tailored insurance products,
addressing market trends, and identifying
risks.
Competitive Premium Quoting: CDP
analytics ensures precise premium
pricing, boosting competitiveness and
accuracy.
Market-Leading Customer Experiences:
A unified view enables personalized
services, faster issue resolution, and
heightened customer satisfaction.

5. Success Metrics for Insurance Company
(Developer)
Metrics that will evaluate Insurance Company's success in
developing and delivering the CDP Platform.
• Product Adoption Rate: Tracking the number of insurers using
the CDP Platform.
• Revenue Generated: Measuring the income from CDP sales and
related services.
• Customer Satisfaction: Evaluating feedback and satisfaction
levels of CDP Platform users.
A systematic approach would be required for tracking metrics, ensuring the success of Insurance Company's CDP Platform for both Insurance
Company and insurers.
Success Criteria for Insurance Company's CDP Platform
Success Metrics for Insurers (End-Users)
Metrics that insurers will use to assess the CDP Platform's
effectiveness in their operations.
• Customer Retention Rates: Measuring the ability of insurers to
retain customers with the help of the CDP Platform.
• Premium Growth: Tracking the increase in premium income
facilitated by data-driven decision-making.
• Net Promoter Score (NPS): Gauging the level of satisfaction and
loyalty among insurers using the CDP.
Monitoring and Evaluation
• Real-time Analytics Tools: Utilize cutting-edge analytics tools that provide instant insights into platform performance.
• Performance Dashboards: Employ intuitive dashboards showcasing crucial performance metrics in a clear and accessible
manner.
• Scheduled Performance Reviews: Conduct regular reviews and assessments to proactively address areas for improvement.
Key Components

6. Assumptions
CDP Adoption:
• Adoption Rate: We assume a gradual adoption of the CDP Platform
by insurers, with an increasing number of clients onboarding over
time.
• User Engagement: It is assumed that insurers will actively engage
with the platform, leveraging its capabilities for data-driven
decision-making.
1
Benefits and Outcomes
• Business Benefits: We assume that insurers will experience tangible
business benefits, such as revenue growth and enhanced customer
satisfaction, through the CDP Platform.
• Data Quality: An assumption is made that the platform will maintain
high data quality and accuracy, ensuring reliable insights.
2
User Research and Market Research
• Market Research: We assume proper market research has already
been done and decisions on product development done based on the
results.
• Market Research: We assume proper market research has already
been done and product requirements are finalized based on the
research results
3
Technical Infrastructure
• Scalability: It is assumed that the technical infrastructure supporting the
CDP Platform can efficiently scale to accommodate increasing user
demands.
• Data Security: Assumption includes robust data security measures to
protect sensitive information effectively.
4
5
Key Growth Factors
• User Training: It is assumed that insurers will invest in appropriate training
to empower their teams to use the CDP Platform effectively.
• Support Collaboration: An assumption includes collaborative support
efforts to address any technical or operational challenges promptly.

7. Requirements for Insurance Company's CDP Platform
Market Requirements Insurance Company CDP Product
Requirements
Insurers require seamless data integration to gain a comprehensive view
of their customers, including policy data, claims history, and customer
interactions.
Data Integration
Market dynamics necessitate access to real-time data for timely decision-
making in underwriting, claims processing, and customer interactions.
Real-time Insights
Solutions must be scalable to cater to the diverse needs of insurers,
regardless of their size, with the ability to handle large volumes of
insurance data.
Scalability
Compliance with evolving regulatory requirements specific to the
insurance industry is a fundamental aspect.
Regulatory Compliance
Insurance Company's CDP offers tailored data integration for insurance
sources, including policy databases and claims records, using connectors,
APIs, and quality checks.
Data Integration and Unification
The platform will include real-time analytics, including live dashboards and
predictive modules for insurance risk assessment, fraud detection, and
customer segmentation.
Real-time Analytics
Insurance Company's CDP will offer scalable architecture to accommodate
growing insurance data volumes and adapt to insurers' evolving
requirements.
Scalability and Flexibility
To align with insurance regulations, the CDP will include compliance
features for data reporting, auditing, and management.
Regulatory Compliance Framework

8. Overview of the proposed solution

9. How efficiently can we integrate diverse data
sources, including third-party data, to ensure
comprehensive customer profiles?
Will the platform handle anticipated growth in
data volume and user demands without
performance bottlenecks?
Are there specific regional data privacy
regulations we need to address, and how can we
ensure compliance?
Data Sources Integration Scalability
Data Privacy and
Compliance
How do we ensure seamless user adoption and
training, particularly for legacy system users?
Are there specific challenges in integrating with other
Insurance Company products or third-party systems?
What type of pricing structure CDP SAS model
will have?
User Adoption
Integration
Challenges
Pricing
Open Items for Insurance Company's CDP Platform

10. Empowering Insurance Company's Customers
• Personalized Customer Engagement: The CDP enables insurers to deliver highly
personalized services, enhancing customer satisfaction and retention.
• Proactive Issue Resolution: Customer service teams use real-time customer data
to proactively address customer issues, minimizing churn.
Improving Customer
Retention
• Precision Pricing: With CDP's analytics, insurers can price premiums competitively,
attracting more customers and increasing revenue.
• Targeted Product Development: CDP insights help insurers identify underserved
markets, leading to the creation of revenue-generating insurance products.
Increasing Revenue
• Efficient Risk Assessment: Insurers utilize data-driven risk assessment through
the CDP, reducing claim costs by identifying potential issues early.
• Automation for Cost Savings: Automation powered by machine learning in the
CDP streamlines processes, reducing operational costs.
Reducing Costs

11. Enhancing Insurance Company PolicyCenter with CDP
1 Supporting Underwriting
• Real-time Risk Assessment: The CDP provides underwriters with real-time customer data, allowing them to assess risk more accurately.
• Policy Recommendations: Underwriters receive intelligent policy recommendations based on comprehensive customer profiles, improving decision-making.
2 Fueling Product Development
• Tailored Insurance Products: CDP's data insights enable the creation of customized insurance products aligned with specific customer segments.
• Market Trend Analysis: Product development teams leverage real-time analytics to identify emerging trends and adjust offerings accordingly.
3 Enhancing the Customer Experience
• Personalized Services: Customer service representatives access unified customer views for personalized interactions, meeting customer needs promptly.
• Quick Issue Resolution: Claims handlers use real-time data to expedite claims processing, enhancing the customer experience.

12. Phased Roadmap and RICE Score Analysis
Phase Initiative / Features
Timeline
(Months)
RICE
Score
Reach, Impact,
Confidence, Effort (1-
10)
Phase 1: Foundation and Data Integration Platform Setup 1-2 40 3,7,6,4
Data Connectors 3-4 60 4,8,7,3
API Integration 5-6 50 4,6,6,5
Data Ingestion 7-8 70 5,9,8,4
Phase 2: Analytics and Customization Analytics Dashboard 9-10 75 5,9,8,3
User Profiles and Permissions 11-12 60 4,8,7,4
Customization Tools 13-14 55 4,7,7,5
Phase 3: Automation and Workflow Enhancement Claims Processing Automation 15-16 70 5,9,8,4
Customer Service Enhancement 17-18 65 4,8,7,5
Phase 4: Scaling and Optimization Scalability 19-20 60 4,8,7,5
Performance Optimization 21-22 55 4,7,6,5
Phase 5: Compliance and Reporting Compliance Features 23-24 65 4,8,7,5
Reporting
25-26 70 5,9,8,4
Phase 6: Launch and User Training Final Testing and QA
User Training
Phase 7: Official Launch and Continuous Improvement Official Launch
Continuous Improvement (Ongoing)

13. User Interaction Scenarios

14. User Interaction Scenarios

15. User Interaction Scenarios

16. 01. Leveraging Data for Development
Streamlined Integration: Developers
seamlessly integrate customer insights into
their applications, enhancing the relevance of
Insurance Company products.
Data Accessibility: The CDP provides real-
time access to customer data, policy
information, and claims data for our internal
development teams.
02. Benefits for Development
Cost Reduction: Predictive analytics
and automation help cut operational
costs and increase efficiency.
Improved User Experience: Customer
interaction data refines user interfaces,
enhancing the overall user experience.
Faster Product Enhancement: Real-
time customer data accelerates
product improvements, reducing
development cycles.
03. Automation for Efficiency
Data-Driven Testing: Real customer data is used
for comprehensive testing, ensuring robust
applications with minimal manual effort.
Machine Learning: Integration of
machine learning automates repetitive
tasks, saving time and resources.
How the CDP will Help Insurance Company's Internal
Development Teams
Informed Decision-Making: Real-time
analytics guide developers, ensuring
alignment with market trends.

17. • CDP's Vital Role: The Customer Data Platform (CDP) is pivotal in providing
insurers with real-time customer data and data-driven insights.
• Strategic Alignment: It aligns with Insurance Company's mission to transform
the property and casualty insurance industry through data and analytics.
• Enhanced Customer Experiences: The CDP aims to elevate customer
experiences through personalization and quick issue resolution.
• Cost Efficiency: It supports cost reduction by automating
processes and improving risk assessment.
• Revenue Growth: The CDP helps in increasing revenue by enabling
precision pricing and targeted product development.
Summary of Key Points
Reiterating CDP Goals
Conclusion
• Benefits for Insurers: We've seen how the CDP empowers insurers with
personalized services, efficient operations, and revenue growth.

18. THANK YOU
Prasanna Hegde