Turning data challenges into opportunities to transform data functions and drive sharper customer insights
Client: A large general and life insurer in Asia with cross-border and global operations
Industry: Financial services, Insurance
Enhancing data governance and capabilities has always been a focus for our client. At a group level, they recognised that there was a strong need for alignment and standardisation. To help our client advance their data agenda, our data professionals identified the roadblocks ahead which included:
As our client planned to expand their business across Asia, this was the perfect setting to turn these challenges into an opportunity. What our client needed was a trusted data governance specialist who understood the insurance sector to help them develop, implement as well as align their data governance standards and processes at a group level.
After identifying the challenges, PwC worked with the client and set out these four clear-cut data objectives, aligned to their desired business outcomes:
We helped our clients implement the building blocks needed - to remediate their data challenges and gradually transform their data functions across Asia. These building blocks included:
By the end of the engagement, the client had remediated their data challenges and transformed their data functions at the group level across Asia. The impact of their improved data function and data-driven culture was immense. In encouraging data transparency and data trust through operationalised data governance tool sets for all staff, the speed and accuracy in supporting the crucial business functions improved. With a cleaner view of customer data, their customer engagement increased by 15% and their lead generation results were sharpened with improved customer contactability by 30% via email and 6% via mobile phone to drive repurchasing, cross-selling, up-selling and targeted marketing opportunities.
"Building trust in data with transparency and accuracy is imperative to driving any business, AI or digital agenda. We continue to help our clients on their data journey by providing them with a solid data foundation for the future."
Data & Analytics Leader, PwC Singapore
+65 8100 7123
Managing Director, Data & Analytics, PwC Singapore
+65 9621 0634
Senior Manager, PwC Singapore
+65 9639 2437