As a pioneer in this sector, the firm has heavy data management responsibilities that have been shouldered through continual digital transformation
In Australia, lenders mortgage insurer, Helia, is in the business of helping home buyers overcome the country’s 20% deposit policy, which has become even harder to achieve with the rising cost-of-living worldwide.
As Australia’s first lenders mortgage insurance provider, the firm handles comparatively large amounts of customer data. Due to the high demand for its services, the firm had identified a need to accelerate claims processing, and bolster data governance and data management.
Amid an ever-evolving mortgage lending industry landscape, rapidly growing data volumes and increased systems complexity, Helia decided to seek a flexible and scalable data governance framework that could connect multiple data sources and cloud systems across the organization, and provide comprehensive data visibility and oversight.
They subsequently chose an AI-powered platform to support their goals to tap AI, improve data trust/ data literacy/data privacy across the organization. Through this data transformation, the firm believes it has strengthened its digital capabilities to explore new ways to engage with customers. From using intelligent chatbots that can deliver accurate results to automating decision-making for claims that help improve customer experience, the firm is happy with the transformation outcome.
Said its Data Governance Leader, Michelle Soakell-Ho: “By taking control of our data and implementing AI-powered data governance, we’re building a foundation to surpass our customers’ expectations and maximize value from AI… Customers and home buyers trust us to be the custodians of their information, and we needed an integrated platform that would allow us to take charge of our data and deliver on its true value.”
According to Alex Newman, Country Manager, Informatica (Australia and New Zealand), the originator of the chosen AI-powered platform, Helia has used the transformation to build a centralized inventory of its data, “enhance its classification/automation processes… enforce policies to manage this information… and seamlessly integrate their diverse data landscape with a more robust, agile data solution that would supercharge their users’ ability to access trustworthy… data.”
