Revolutionizing Customer Master Data in Insurance Technology Platforms: An AI and MDM Architecture Perspective
Abstract
We present a new architecture pattern for the implementation of Master Data Management for Customer Records, as the core of insurance technology platforms. It integrates the initial creation and perpetual trusts of the Customer records, with the native capabilities of Insurance technology platforms. This architecture is contextualized into components, business processes and Digital Twins. We use case studies to illustrate the capabilities of the architecture as a solution to common problems in the industry. We also traverse into automation rules, utilizing Artificial Intelligence technology enabled by neural networks and language transformers. Our architecture aims to enable the automation a deeper customer understanding and segmentation, driven by the detection of the customer voice exposed into the communications and interactions of the customer with the insurance company.