Data Dump

An insurer’s store of data is one of its prime assets. Historically, this information has been locked away in the business units where the data originated. Customer information, policy and product data, preferred vendors and business partners, and claim information is usually accessible only in the systems in which they originate and reside. That siloing can inhibit the company’s ability to exploit the richness of the data and can limit its value in the evaluation of claims. One solution is master data management, or MDM - software and programs that make data assets available and usable enterprise-wide.