Data Quality Matters: How Insurers are Benefiting from Optimal Processes and Accurate Analysis
Information that appears complete may not serve its purpose unless its grounded in accuracy and relevancy.
Seeking or using unnecessary information could become an impediment in attracting and acquiring customers.
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 have a host of internal and external resources to assess confidence in their data.
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.
