Data quality for insurance companies
Experian QAS provides insurers with data quality solutions to ensure that all policyholder information is collected accurately. Insurance data quality is critical to increasing operational efficiency and creating a single customer view.
Manual data entry processes can hurt data accuracy, impacting the departments that rely on policyholder contact information for business processes like claims, underwriting and policy services. By implementing insurance data quality solutions at the point of capture, organizations can:
- Improve risk assessment
- Collect better agent portal data
- Prevent premium leakage
- Streamline operations
- Enhance policyholder service
As many insurers modernize IT infrastructure, it is important to incorporate data quality practices into upgrade projects. Insurers can implement software tools to ensure the accurate collection of policyholder information and prevent duplicates from entering their system.
Accurate data allows insurers to create a single customer view, which enables better compliance with regulations, improves risk assessment and increases staff efficiency.
|Address verification improves data quality with accurate address collection at all points of entry, from agent portals to call centers.|
|Matching software ensures a single customer view and removes duplicate policyholder records from databases.|
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