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The Impact of Data Quality on Insurance Company Portfolios
Data quality is crucial for insurance companies like AIG, where the accuracy of building characteristics can significantly influence the amount of money set aside for potential claims. Inaccurate or missing data may lead to worst-case scenario assumptions and the need to set aside more funds than necessary, affecting the financial performance of the company. Establishing a data quality index and ensuring accuracy in the data can reduce the amount of money set aside, optimizing financial resources and investment opportunities. By improving data quality, companies can better assess risks, make more informed decisions, and enhance the overall financial health of their portfolios.
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Provided as a free resource by Data Mesh Understanding. Get in touch with Scott on LinkedIn.
Transcript for this episode (link) provided by Starburst. You can download their Data Products for Dummies e-book (info-gated) here and their Data Mesh for Dummies e-book (info gated) here.
Olga's LinkedIn: https://www.linkedin.com/in/olga-maydanchik-23b3508/
Walter Shewhart - Father of Statistical Quality Control: https://en.wikipedia.org/wiki/Walter_A._Shewhart
William Edwards Deming - Father of Quality Improvement/Control: https://en.wikipedia.org/wiki/W._Edwards_Deming
Larry English - Information Quality Pioneer: https://www.cdomagazine.tech/opinion-analysis/article_da6de4b6-7127-11eb-970e-6bb1aee7a52f.html
Tom Redman - 'The Data Doc': https://www.linkedin.com/in/tomredman/
In this episode, Scott interviewed Olga Maydanchik, an Information Management Practitioner, Educator, and Evangelist.
Some key takeaways/thoughts from Olga's point of view:
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Data Mesh Radio is hosted by Scott Hirleman. If you want to connect with Scott, reach out to him on LinkedIn: https://www.linkedin.com/in/scotthirleman/
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All music used this episode was found on PixaBay and was created by (including slight edits by Scott Hirleman): Lesfm, MondayHopes, SergeQuadrado, ItsWatR, Lexin_Music, and/or nevesf
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