October 2019 – Data governance is becoming a more prominent concern as more organizations use data for automated processes, analytics, and business intelligence. Increasing regulation around data privacy and usage also requires carriers to be organized and knowledgeable about their data to comply with legislation without hindering the pace of innovation projects. A data governance program brings together roles and responsibilities to focus on managing data quality for the organization.
This brief outlines the business drivers, best practices, and benefits of a data governance program, along with common challenges that insurers may face in their efforts.
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