Data Quality Matters: How Insurers are Benefiting from Optimal Processes and Accurate Analysis
There is no substitute for actually examining raw data, which often yields surprises in how information is organized and described.
Evaluations based on historical information should take into account not only when events took place, but when that information was available to those who could have utilized the information.
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.
Insurers are acquiring lots of data, but not everyone is maximizing its use.
