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.
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.
Insurers have a host of internal and external resources to assess confidence in their data.
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.
