While the overall economic perspective is looking brighter thanit was a few months ago, insurance organizations are still lookingto cut bottom line costs and reduce expenses wherever possible. Onearea where businesses continue to see significant budgetary wasteis around inaccurate contact data.
Contact data touches every part of an insurance operation, butit is especially prevalent in the claim department, where accuratecontact information is required to process any claim. When contactdata is managed incorrectly, money is wasted, policyholderrelationships are damaged, and the overall brand image suffers.
With this in mind, Experian QAS surveyed 100 insuranceorganizations in August 2010 to review their current contact dataperceptions, cleansing practices, and accuracy levels. The researchshows that dataquality is top of mind, data inaccuracies are extensive, andthat insurance organizations are currently using a wide variety ofmethods to try to clean up their contact data.
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