While the overall economic perspective is looking brighter than it was a few months ago, insurance organizations are still looking to cut bottom line costs and reduce expenses wherever possible. One area where businesses continue to see significant budgetary waste is around inaccurate contact data.
Contact data touches every part of an insurance operation, but it is especially prevalent in the claim department, where accurate contact information is required to process any claim. When contact data is managed incorrectly, money is wasted, policyholder relationships are damaged, and the overall brand image suffers.
With this in mind, Experian QAS surveyed 100 insurance organizations in August 2010 to review their current contact data perceptions, cleansing practices, and accuracy levels. The research shows that data quality is top of mind, data inaccuracies are extensive, and that insurance organizations are currently using a wide variety of methods to try to clean up their contact data.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
