Location Hub™ Business Use Cases For the Insurance Industry

KEY ISSUES

• Insurance companies require an automated solution in order to accelerate the application approval process, which requires increasing address record match rates between databases
• Reduce expenditures for field audits
• Address validation which can establish the reliability of address records for fraud purposes
• A more robust scrubbing solution
• Address standardization in order to have a consistent business standard which will improve address data integration
• Attribute enrichment of address data to provide increased intelligence about each address record and fuel further decision-making processes
• Tools to identify, through particular business rules, more precise areas of high-risk or hot-spots in order to make more informed and cost-effective insurance decisions

LOCATION HUB™ SOLUTION

• Sophisticated exact and fuzzy matching rules which can allow for a substantial increase in recognizing and matching address records which are missing key address elements or those which are incorrectly represented
• Rich aliasing of address data, based on fourteen years of address data experience at DMTI, in order to further increase address record matching rates
• Mobile applications which will allow field auditors to remotely view pre-populated address and attribute related data to be verified or updated in the field. Photographs can be captured on the device and uploaded to the appropriate database
• A unique and sophisticated address validation process which evaluates the reality of address records and provides the user with an educated score of confidence in that reality
• Advanced address parsing and standardization and is able to convert multiple address data formats
• A single standardized Master Address Management repository consisting of multiple source address data attribute enrichment
• A unique universal address identifier that can allow insurance companies to persistently link address records through once disparate databases
• Ability to specify particular business rules in order to identify patterns in address data, using superior address recognition and address record
• Ability to perform dataset operations (add, subtract and join functions) on address record databases

A replicated Master Address System from Location Hub™ can be installed on-site for various purposes, with the ability to be updated daily, in order to sync with MAS updates occurring at DMTI. The replicated MAS can be compared to an Assessment data source, in order to attach specific attribute data to the MAS address data. Addresses that are not currently found in the replicated MAS can be appended to the database. This process allows for the efficient extraction of addresses and attributes that may be required by the Lender user, in order to make expedient and informed decisions.