Westpac Life New Zealand, a unit of Westpac Group, has implemented Informatica Platform for powering its strategic customer centric and big data initiatives.

The platform is supporting Westpac’s Insurance Project, which is a new enterprise business intelligence environment that is helping the company in increasing revenues, improve customer retention and cross-sell rates, and reduce risk.

The Insurance project provides a single point of authoritative and trustworthy business and insurance customer data, and is expected to deliver over 240% return on investment and boost revenues as a minimum one percent over the policy’s life.

Westpac Life senior systems manager Torrance Mayberry said the Informatica Platform enables a data-centric approach to addressing business issues across the enterprise, regardless of the sheer volume, disparity and multiplicity of sources, and increasing complexity of the data involved.

The platform also supports company’s recently launched Social Media Project by helping Westpac to capitalize on the big interaction data and also allows it to drive customer centricity.

Informatica claims that the new platform ensures that data captured from social media can be integrated easily with other Westpac data for comprehensive analysis.