Multi-sourced Data Builds and Improves Upon Single Credit Bureau Data

For most financial and insurance marketers, credit bureau data is the single most important component of direct mail success. When you are partnering with a credit bureau, it’s likely not apparent that an even better data targeting solution exists.

Nahan delivers a higher-performing alternative to single source credit bureau data. Our multi-sourced data solution leverages real-time credit bureau data and enhances performance via the use of additional data sources and a unique and unmatched approach to analytics. Response rates and other metrics typically see improvement of 20-50% over traditional results.

The Challenges with Single Bureau Data

A single bureau relationship covers just 80% of those with a credit history. If a predictive model is used, it frequently uses credit data only. Challenges include older credit data and longer processing times, meaning data is not as fresh and accurate as it could be. There are concerns over data accuracy and quality – up to 15% of bureau files contain invalid data. A single bureau is usually limited in credit inquiry coverage for trigger processing.

Benefits of Nahan’s Real-Time Credit Bureau and Multi-Source Data

We can leverage data from all three major credit bureaus as well as over 20 alt-credit, demographic and specialty files, dramatically increasing coverage and offering over 30,000 data attributes for our META Models. We provide significantly more predictive data with the fastest turnaround from request to delivery. Credit bureau data pulls can be bureaucratic and take some time, whereas our resources contain real-time credit bureau data, received and updated nightly. We can deliver data faster than a bureau – faster means fresher and more accurate. This broadens the scope of lead generation and data analysis, offering a much wider and deeper pool of predictive data attributes.

We feature superior META Models designed to take advantage of diverse credit and ITA data sources and deliver superior results. A multi-model solution delivers better model discrimination, greater predictive accuracy, and a continual updating process. Rather than building traditional predictive models that often grow “stale” and need to be rebuilt over time as business and market conditions change and evolve, our models are continually fed with response data to remain current. These models have the ability to adjust to current business goals, focusing on factors like response, conversion, loan amount, cost of acquisition, quote rate, premium amount and more.

Many of our clients have long-term credit bureau relationships and are reluctant to switch from bureau data they are familiar with. This is not a problem – they can maintain the relationship and the data – we build models that use the data but improve upon it with the inclusion of additional non-bureau data sources.

As part of our services, we include proprietary data linkage and hygiene methods that substantially improve upon USPS NCOA and standard hygiene processing. USPS move forms are typically filled out by only 50% of the population. We use the sheer amount of data that we manage to determine the best addresses for delivery. This increases the precision of targeting and reaches potential customers more effectively. A recent prospect mailing file analysis identified 11% of their mail file was sub-par in quality with an associated 33% drop in response vs. the rest of file. Nahan fixed their future files for superior results.

Discover the power of multi-sourced credit and ITA data in transforming your financial or insurance marketing strategies.

Unlock the Power of Precision Data with Nahan!

Transform your direct marketing with Nahan’s proven, data-driven strategies. Leverage our advanced data capabilities and personalized, results-oriented services to enhance your campaign performance. At Nahan, we prioritize real connections and actionable insights, offering solutions based on proof, not promises. To explore how we can achieve big wins for your direct mail efforts, fill out the form below to speak to one of our dedicated Client Solutions Representatives.

Let’s start a conversation today about your direct mail programs!


Author Bio

Alan Sherman is our Vice President of Marketing Strategy. Alan enhances Nahan’s current value proposition with strategy solutions that support new/existing client relationships. For clients, he leverages market, customer, and competitive intelligence to build achievable strategies for omnichannel marketing success. His marketing plan strategies include targeted data, predictive analytics, testing, and creative that drive ongoing client performance improvement. In his spare time, Alan enjoys spending time with his family, traveling, going to concerts, watching sports (he’s a fan of the NY Giants, Boston Red Sox and Celtics), and walking the dog, even though it was just out.