CASE STUDY: Optimizing MDM to Drive CRM
VP Information Management, Selective Insurance Company of America
Selective Insurance Group. is a regional insurance holding company (2,000+ employees) that provides property and casualty insurance products and insurance services to US customers as well as administering flood insurance policies for the National Flood Insurance Program. Selective markets its insurance products insurance through independent insurance agents in 22 states in the Eastern and Midwestern regions of the United States and has annual revenues of approximately $2.3B. Recently, the company’s IT management embarked on an MDM program where the focus was on quick time to success/value. Specifically, the company was able to master 2.5M unique GOLDEN “PARTY” RECORDS (from pool of 7.5M) across the three major lines-of-business: (1) Personal – for auto & home; (2) Commercial – for property and casualty; and, (3) Flood Applications.
Key to their success was a focus on “people & process” rather than tooling, setting appropriate expectations, engaging the entire organization, and leveraging external sources. Likewise, for their ongoing Data Governance processes, they are also emphasizing “people & process” over tools. Currently, Selective is in the process of formalizing their Data Governance processes (with formal data stewards and owners to manage new definition process of attributes) as they extend their MDM platform.
This session will highlight certain of the “lessons learned” in “Selling MDM from the IT Perspective” including:
• Gaining solid sponsorship
• Managing expectations
• Keeping it simple via scope management