Data Quality Matters: How Insurers are Benefiting from Optimal Processes and Accurate Analysis
Data's value depends on its accuracy, its timeliness and whether it's complete.
Insurers are acquiring lots of data, but not everyone is maximizing its use.
There is no substitute for actually examining raw data, which often yields surprises in how information is organized and described.
Seeking or using unnecessary information could become an impediment in attracting and acquiring customers.
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.
