Data governance in action: Beneva

By Laura Ventura
Beneva in white text on purple backgroundBeneva in white text on purple background

Marketing based on the next best action requires effective data handling for success. For Canadian insurer, Beneva, however, silos were standing squarely in the way. 

With over three million customers and CA$13 billion in assets, Beneva is one of Canada’s largest financial institutions. They had over 75 years of product and customer data, but that data was isolated in various systems, databases, and customer portals. They wanted to break down these silos and build a more supportive culture that relied on unified customer data to develop more personalized relationships with their customers. 

Beneva had two goals for its data project: to improve insight into its customers and to modernize its data foundations with an analytic-ready cloud infrastructure — all without compromising on data confidentiality standards. 

To achieve this, Beneva brought together business units, risk management, legal, and security in a Data and Analytics Center of Excellence. Their goal is to establish governance rules which ensure that the confidentiality of personal data is respected while enforcing company policies. For example, will the address that will prevail in the event of a clash be the one used for the auto insurance or the one used for the group insurance? Or maybe simply the address that was updated most recently? 

Our insured customers expect a simple, secure, and personalized experience. The data governance and automation that Talend provides us is a real game changer in this respect.
— Simon Latouche, Data Engineering Director, Beneva

The company turned to Talend because it offers a complete solution, from data integration to data enhancement to API-based applications. Talend has also helped resolve one of the most difficult issues in a master data project: when a human needs to take back control from a machine. With Talend’s technology for data governance and data stewardship, Beneva was able to balance its increased use of customer data while ensuring the quality and security of that data. 

Ultimately, Beneva was able to collect all their customer data into a Snowflake data warehouse on Azure, with quality ensured by Talend’s cloud platform running on AWS. With all their customer data consolidated in a single location, Beneva is able to send the right offer to the right customer, via the right channel and with the right message. 

Results highlights include:

  • 30% improvement in efficiency of development teams 
  • New data projects delivered in weeks instead of months 
  • Unified Customer Center portal with single login ID and password 
  • 3x increase in email conversion rates 

To learn more, review our whitepaper on getting the data health you and your customers deserve.