Data Quality Matters: How Insurers are Benefiting from Optimal Processes and Accurate Analysis
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.
Data's value depends on its accuracy, its timeliness and whether it's complete.
There is no substitute for actually examining raw data, which often yields surprises in how information is organized and described.
Insurers have a host of internal and external resources to assess confidence in their data.
Insurers are acquiring lots of data, but not everyone is maximizing its use.
