This enterprise solution will help insurance carriers manage data to increase customer satisfaction, identify and minimize risk, maximize profitability, and boost efficiencies in underwriting, claims, and marketing processes.
Spectrum supplants the Customer Data Quality Platform and has been expanded to include location intelligence functionality, enabling insurers to better understand their customers and assets in term of location.
Available on the Spectrum Technology Platform are five solution areas: data services delivered as part of enterprise data quality; data governance; enterprise location intelligence; data integration; and business services addressing specific business process challenges.
New to the Spectrum Technology Platform is an enterprise-routing module that can serve as a part of a comprehensive location intelligence solution or a stand-alone business service. It enables insurers to manage travel and logistics operations.
"Insurance companies understand the ramifications of poor data quality. They live with it everyday in the form of customer service hiccups, decreased retention rates, and higher claims costs," says Bill Sinn, strategic industry and marketing director at Pitney Bowes Business Insight. "The problem lies in addressing the data issue. Most insurers don't always know where to begin in terms of starting a data quality initiative. The modular nature of the Spectrum Technology Platform enables companies to select the services that best fit their needs today and provides a data quality foundation that grows with the organization. "
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