From data quality to greater process reliability
Case study from a European insurance company
Data quality and compliance have long since ceased to be isolated IT issues for insurance companies. They influence virtually every business process – from customer onboarding and portfolio management to claims handling and regulatory audits. This was precisely the challenge our organisation faced.
Our systems and processes had evolved over many years. New requirements were added, regulatory guidelines implemented and specialist applications expanded. Day-to-day operations ran reliably, yet we realised that a significant proportion of our daily workload did not directly contribute to value creation. Manual clarifications, rework and checks had become an integral part of our daily routine. Many of these tasks were regarded as unavoidable because they had been part of our processes for years.
This was particularly evident in the handling of customer and contract data. Different data sources, historical records and various data entry methods meant that information was not always available in the desired quality or consistency. For our specialist departments, this meant additional effort in researching, assigning and verifying information. At the same time, the requirements for traceability, documentation and compliance were constantly increasing.
Against this backdrop, we decided to implement TOLERANT’s solutions. Our aim was not to introduce yet another system, but to improve the foundations upon which our processes are built. The focus was on the quality and consistency of our data, as well as the ability to use information more reliably across systems.
After only a short time, we were able to see that transparency had improved significantly in various areas. Duplicates and multiple entries were easier to identify, customer information could be consolidated more consistently, and many manual checks were considerably simplified. Of particular value to us was the ability to visualise interrelationships that previously could only be traced with a great deal of manual effort.
Improvements were also evident in the area of compliance. Audit processes became more traceable, decisions could be documented more effectively, and preparation for both internal and external audits became significantly more efficient. Instead of allocating additional resources to manual checks, we were able to focus more on technical evaluation and risk assessment.
Another positive effect was seen in the collaboration between business departments and IT. Thanks to higher data quality and clearer identification of customers and contracts, coordination efforts were reduced and processes were made more transparent. This not only facilitates day-to-day operations but also creates a better foundation for future digitalisation and automation initiatives.
Looking back, it was particularly important to us that the improvements were not based on spectacular one-off measures, but on a sustainable strengthening of the fundamentals. Data quality, unambiguous identification and traceable processes may seem of little consequence at first glance. In practice, however, they have a significant impact on efficiency, compliance and organisational stability.
Today, we no longer regard clean and consistent data as a technical detail, but as a strategic success factor. It enables us to make processes more secure, meet regulatory requirements more efficiently and develop our organisation in the long term. Our collaboration with TOLERANT has helped to strengthen this foundation in a sustainable way.
— Head of Operations & Compliance
European insurance company
(Name withheld at the client’s request)
