In his recent article for TechTarget’s SearchDataManagement.com, author Joseph M. Carew says that data is essential to the success of today’s insurers. But often various departments accumulate their own data sets and fail to communicate what they know. What’s the solution? Companies are turning to master data management best practices that help them consolidate data across previously siloed applications and systems.
apexanalytix SVP Danny Thompson was interviewed for the article. He says that for insurers to achieve optimal results with master data management, high-quality data is a must. It governs who an organization does business with, how that business gets done, and how or when either party gets paid.
"Reliable customer and vendor master data is the foundation for these end-to-end processes."