Data quality is expected to play an increasingly important role within insurance companies over the coming 12 months, it has been suggested.
According to an article on the Insurance and Technology website, investment in data-related services and software will rise this year as organizations look to improve the quality of their corporate information.
The news provider explains that as part of these data quality improvements, many insurance-based companies will look to purchase master data management solutions.
"Whatever insurers have planned to improve processing, the success of their projects will depend on the quality and availability of data," the article said.
In addition to data quality improvements, the news provider claims that many insurers will start to utilize cloud-based services for email, customer relationship management and even policy administration.
Meanwhile, SmartData Collective blogger Steve Sarsfield recently claimed that data quality is set to play an even more important role within businesses in 2011.
The expert believes that the technology will be increasingly used to cope with the vast amounts of data now being stored.
Posted by Rachel Wheeler