NRMA turns to AI to boost data management

NRMA turns to AI to boost data management | Insurance Business Australia

Technology

NRMA turns to AI to boost data management

Tech to enhance customer engagement

Technology

By
Roxanne Libatique

IAG-backed NRMA Insurance (NRMA) has adopted enterprise cloud data management leader Informatica’s AI-powered data management cloud platform, Intelligent Data Management Cloud (IDMC).

With 2.77 million members, NRMA has over 3,000 data sets and over a decade-old on-premises technology architecture that was said to be hindering its business growth.

Informatica’s IDMC has a data management platform with self-service functions, removes data siloes, and democratises data across the organisation for key IT and business users, including data engineers, system integration architects, and the marketing team. It also enables users to access and deliver data in minutes to support marketing campaign launches and generate data for seamless claim settlements and membership redemptions.

AI implementation

IDMC is expected to help NRMA enhance customer engagement across multiple lines of business such as roadside assistance, travel, tourism, and lifestyle services.

Since implementing the cloud platform to support the NRMA’s single data strategy and single data platform for data management, user productivity has increased ten-fold, and data ingestion and data transformation load times have reduced by 60%, resulting in faster processing and analysis of data for quicker insights and decision making.

Vamsi Krishna Dhalli, senior data manager, technology, at NRMA, emphasised the importance of product innovation and improving customer experience amid a highly competitive insurance market.

“Our data across business units used to be siloed and fragmented, but now with Informatica’s IDMC, we are better connected with our data to better serve our customers with personalised value. Adopting a low-code/no-code approach in our integration environment enabled us to scale, innovate, and remain agile to meet market demand, while automation has helped free up our IT resources for higher-value tasks,” Dhalli said.

Richard Scott, group vice president at Informatica Asia Pacific, added: “Data needs to be unlocked to drive the trust and connection with customers.”