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Comprehensive Data Strategy Helps Insurers Leverage Data Analytics to Drive Business Results, Says Novarica

Bill Sinn | September 10, 2018

The insurance industry has embraced data analytics to drive business results. However, insurers are dealing with the challenges of diverse core systems with little data integration and limited agreement on what data assets mean. Instead of mining for insights, many insurers are still struggling with basic data quality and completeness issues. In a new brief, Data Strategies for Insurers, research and advisory firm Novarica identifies key issues and best practices for developing and maintaining a comprehensive data strategy that looks across the entire organization: at people, process, and technology. 

"A data strategy becomes a key enabler to achieve strategic capabilities like predictive modeling and analytics," said Mitch Wein, Vice President of Research and Consulting, and lead author of Novarica's new report. "The strategy will align people, process, and technology in a comprehensive way to outline a target, how to get there, and how to bring the organization together to achieve this target."

A preview of the brief is available online at  https://novarica.com/data-strategy-for-insurers-key-issues-and-best-practices/, and desk copies are available to qualified media. Please contactmedia@novarica.com or call Victoria Spitz at 617-897-1921 for more information.

 


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