5 blog posts tagged "Address standardization"

When you think about theme parks, you probably think of roller coasters, long lines, and $18 turkey legs. But behind all the fun is a surprising need for something a little less flashy yet still gorgeous as all get out—rock-solid address validation (or address verification, we use them interchangeably). Yes, we’re talking about making sure that the addresses entered by guests are real, valid, and standardized. Why? Because today’s theme parks operate like data-rich, customer-first ecosystems.

Address verification is an essential tool that property insurance companies should use when analyzing risk. Perils are often associated with potential hazards located on or near a property, but they can also be tied to the general area a property is in. Verifying addresses ensures that a policy falls within a covered area, which is vital for both an insurance company and their customers. To start, the insurance policy premium needs to be priced for the property's actual location. Otherwise, a premium could be mispriced because of a misclassified risk area.

When it comes to address verification, getting a match every time might seem like the goal. After all, a system that always returns a validated address must be working perfectly, right?Wrong. If your address verification API always forces a match, no matter what, it’s not being helpful. It’s actually introducing risk. In fact, getting a “no match” result can frequently be the smarter, safer outcome. Let’s talk about why. What is a "no match" telling you?A “no match” means the input address doesn’t align with any known, valid address in the reference database.

Ask most product owners about their address data, and they’ll probably tell you that “it’s good enough. ” But when it comes to address data integrity, the word “enough” should give you serious pause. When it comes to address data, “close enough” is how businesses end up with wasted marketing spend, compliance headaches, failed deliveries, and policies that don’t hold up. It doesn’t matter if you're underwriting insurance on a home, scheduling a broadband install, or mailing a benefits enrollment kit—accuracy isn’t a nice-to-have.

It’s November, and online shopping is ramping up to its climactic end-of-year blitz. www. blackfriday. com estimates that between Thanksgiving and Black Friday of this year, consumers will spend approximately $13 billion (1). That’s great news for your business. But if you don’t have the right tools in place to help you meet that demand, you might be left wishing you had better prepare. Staffing may be one issue for many businesses. According to the US Chamber of Commerce, the wholesale and retail trade industry has experienced the second-highest quit rate of all industries since November 2020(2).