REaD Group, the company behind a new data-sharing platform, says that it can help the insurance industry to revolutionise the way that it manages policyholder information.
It believes that the platform, which will be live by the end of this summer, will reinvent the way in which insurers form and develop customer relationships. It does this by providing access to peoples’ hobbies and interests, media consumption, response to direct marketing, and transactional data. The software works by allowing companies to access the data held by REaD Group which can create an accurate and detailed profile of customers, meaning that they can offer a more targeted and personalised service.
REaD’s knowledge bank of information is designed to replace legacy systems that provide access to existing data assets but require manipulation to create a cross-customer view. The new platform will allow access for profiling, data appending and modelling against large databases or on an individual record basis, with real-time access. The database also sits in the middle of a business’s data infrastructure, and is continuously updated through ongoing surveys.
Jon Cano-Lopez, the chief executive of REaD Group, said that the platform represents the evolution of the data landscape which will transform many industries.
“The strong cohesion of data and easy-access that the platform provides means that companies will have a granular understanding of each customer as an individual, enabling brands to target the right people, in the right place and at the right time, building better relationships as a result,” said Cano-Lopez.