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id any deviations from the stated objectives of each business unit.

Ø Process Improvement: Based on the outputs generated from the actions plans and performance indicators implemented in the planning phase, associated processes and action plans are updated to make it more efficient in achieving the stated objectives.

Each phase will be dealt separately and in more detail in the following sections of the report.

Analysis
The Analysis Phase consists of analyzing data to identify the key drivers which affect the value of a customer and segment customers to improve the profitability of the insurer. The analysis of data establishes a relationship and a trend between the internal information and the market value of customers. This phase includes an analysis of the following processes: Data Quality and Single Customer View

Over the past decade, insurance companies have gradually started shifting their focus from policy sales, pricing, and claims to understand the needs of the customers and the possibility of repeat purchases of additional products from these customers. Insurance companies have now started servicing and understanding the customer's needs from a holistic perspective and further the insurer's efficiency to service their customers is dependent on the information provided by the customers on the use of specific products and services. The information solicited from customers is used by insurance companies in developing new and re-modeling old products, by call customer representatives in providing quality service, and by marketing departments in selling new products to segmented customers.

To achieve the above, insurance companies have started stressing on the need for customer data integration (CDI). A typical data integration solution (Figure 9) should encompass the following subsystem in the life insurance organization.

An insurer needs to integrate various components of an insurance policy management solution into one and use data mining techniques to recognize the current customer trends, purchase patterns and fraudulent activities.

Customer data integration in the insurance industry creates growth in the company's top line by:

Improving the design of insurance products and pricing;

Increasing the success rate of marketing campaigns; and

Improving the overall customer experience resulting in maximization of the customer's life time value

Similarly, customer data integration also makes a positive impact on the bottom line of a life insurance company by:

Streamlining the service centers and leading to shorter call times, resulting in increased customer profitability; and

Savings in several operational areas such as claims

Figure 10 displays the benefits of customer data integration as it applied to the organization. To further elaborate on how insurers can leverage from customer data integration let us demonstrate its effect on the following areas of the company:

Product and Service Offerings: A typical product development process at an insurer is described in Figure 11. The figure highlights the data required from various sub-systems for product development. Data integration reduces the time required for product development using improved analytics. In short the insurer can have the first mover a