A recent survey of the financial services sector conducted by The Economist Intelligence Unit (EIU), sponsored by SAS, a software provider, found that about 41% of respondents agreed that data quality and availability will play a key role in risk management over the next three years.
It struck me that this should be fairly obvious to all of us in the insurance industry, where evaluating and mitigating risk is our very lifeblood. Yet when I look out at the insurance landscape and see multiple enterprises burdened by redundant silos of information and multiple (yet slightly different) versions of the same data, I wonder if insurers are really getting it.
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