Data Management and Analytics…Foundational Strategic Building Block for Innovation
Publisher: 1insurer
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used to assess, analyze, plan and facilitate all types of decisions from underwriting, claims, reinsurance, regulatory to financial. It is a strategic asset of an organization and the fuel that powers our organization’s results. But all too often, it is not managed or used as a strategic asset. Most companies are data rich, but lack “street smart” information let alone strategic intelligence and insights. Now more than ever during these challenging times, we must effectively manage the fundamentals of our business to achieve the levels of return on capital and combined ratios that will ensure our organization’s success, let alone survival. Companies must recognize that data is the foundation for strategic advantage with an enterprise data management organization, principles, practices and tools.
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