Innovative Helps Thrivent Financial Obtain a Complete and Accurate View of Its Members
Founded in 1917, Thrivent Financial is a not-for-profit membership organization of Christians serving more than 2.3 million members across the United States. The Organization offers life, health, and disability insurance, as well as mutual fund and annuity products to its members.
Challenge: Member Data Spread Across Disparate Systems Led to Poor Customer Service
With millions of prospect and member names spread across various databases, Thrivent Financial had a complicated customer service process. It was often difficult for the Organization’s employees to get information on a member’s complete set of relationships, and often, a member would be associated with more than one address. Thrivent realized that creating a consolidated view of its member and prospect information was vital to resolving its service problems.
In order to create this customer-centric view, the Organization consolidated all of its products into a centralized operational database. While this effort enabled employees to have a complete view of their members, it did not eliminate duplicate records.
Solution: Improve the Accuracy and Function of Customer-centric Database with Matching and Real-time Deduplication
Every day, duplicate names and addresses were being entered into Thrivent’s system, and every day, the quality of the Organization’s data continued to diminish. To address this issue, Thrivent needed an accurate, easy-to-use software system that was flexible enough to apply their business rules. After testing three different products, they chose Innovative Systems to stop the contamination.
Thrivent implemented Innovative’s real-time data quality solution so that every time a customer service representative took a phone call, they could conduct a name look-up in their database. Innovative’s real-time search engine automatically prioritized the search results. If the person was already in the system, their information would immediately appear on the screen, preventing a duplicate from entering the system. The Organization also implemented Innovative’s matching capability, which allowed users to de-duplicate member and prospect names that already existed in the database.
Result: Improved Customer Service and More Successful Prospect Marketing Activities
Innovative’s real-time data quality and matching tools saved the Organization from duplicating a total of 482,000 customers and prospects in the first year. In addition, Thrivent was able to process four times more records in less than half of the time. Postage costs also decreased due to the elimination of duplicate data.
Thrivent was not only impressed with Innovative’s accurate and flexible products, but also with the vast amount of experience held by the Innovative team. They cited the fast and smooth implementation, which was completed much sooner than anticipated.