Andrew Borthwick, Ph.D., president and CEO of ChoiceMaker Technologies, Inc. announced that the technology provider has developed a state-of-the-art data deduplication and record matching solution for insurance clients. The new solution uses machine learning technology as an alternative to traditional, outdated, rule-based solutions, and it is not currently implemented by any other record matching software provider. ChoiceMaker's patented Artificial Intelligence technology is an innovative approach to record matching and achieves the highest levels of accuracy by learning from examples to imitate human choices.

Poor Data Quality Creates Losses for the Insurance Industry

In the insurance business, inaccuracy can hamper marketing efforts and impede insurance agents' ability to target clients efficiently. ChoiceMaker has done extensive research on the challenges faced by insurance companies who are receiving requests for quotes via Web sites, telephone inquiries and other forms of client contact. Their cutting-edge data deduplication and record matching solution helps these businesses to streamline their marketing and sales processes. ChoiceMaker allows insurance industry clients to ensure the accuracy of their databases and avoid costly errors.

ChoiceMaker has provided several benefits for insurance clients including:

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Health insurance

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Creation of a single patient, company and supplier view

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Removal of matches from data vendors, so that master data repositories can properly identify and credit its medical prescribers

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Reduction of double, and therefore fraudulent, insurance payments

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Enhancement of customer relationship managers and business intelligence decision support system with cleansed data

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Merge of legacy data, without duplicating records and contaminating master data repositories

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Maximization of sales potential, by giving agents more complete information

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Increase of customer satisfaction, by providing a single customer view

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Increase of cross- and up-sell potential, with a more accurate householding solution

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Recognition of customers through lifecycle events, such as marriage, relocation, childbirth or divorce

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