Data Quality Matters: How Insurers are Benefiting from Optimal Processes and Accurate Analysis
Insurers are acquiring lots of data, but not everyone is maximizing its use.
Data's value depends on its accuracy, its timeliness and whether it's complete.
Acquired data may come from original collection efforts, or it could simply be a third-party purchase. Being able to answer questions about the data is crucial.
Information that appears complete may not serve its purpose unless its grounded in accuracy and relevancy.
Insurers that acquire data need to know how it was collected, that it was cleaned and verified and how it will fit into future developments.
