Data Quality for Insurance & Financial

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Data is the lifeblood of the insurance and finance industries. From telematics data to credit checks, data quality in financial services is used to inform almost every decision. It’s crucial that you have access to accurate and up-to-date data analysis to help you stay ahead of competitors and assess your portfolio of risk. In some cases, a lot of the data management in financial services can be littered with inaccuracies, as well as a lack of quality and testing.

Data quality in insurance and financial services should be handed with care. All too often, companies will mould together legacy systems with new architecture which can damage your ability to trace and process data effectively.

Improving data quality in Financial Services

Many companies in the insurance and financial sectors are under pressure to address data quality issues, but don’t necessarily have the ability, time or resource to solve them quickly. The move to online platforms, as well as being at the mercy of comparison sites, has increased the amount of data available.

Data analysis and storage should be at the very heart of companies in this industry, in order to improve compliance, risk assessment and staff efficiency.

In most cases, insurance and financial companies find themselves experiencing the following issues.

1. Lack of visibility around data quality
2. Lack of accountability and poor performance across campaigns
3. Difficulty recruiting the right talent
4. Inadequate or outdated testing services

How can ids help?

We have a number of data quality assurance solutions to these common issues across the financial service sector, providing the ability to cleanse, monitor and manage your data in order to improve its quality and its value.

iData

The insurance and financial services industry’s data pool is constantly growing. It’s crucial that your information is cleansed and monitored, to ensure no duplication and that the data is fit for purpose. iData can manage your data and generate reusable data quality assets that can be checked quickly. In a world where big data is able to correlate behaviour with risk, this data quality enhancer is essential.

iJira

iJira can ensure accountability is high, and the status of each project or task can be easily checked and monitored. In a complex world of insurance software testing, it’s key that you are able to remove risk, ambiguity or surprise when it comes to the quality of software or projects. iJira has bespoke dashboards to facilitate good audit trails alongside quality data.

iResource

In the insurance and finance sectors, having the right people in place is everything. The recruitment process can be costly and time-consuming at the best of times, particularly in these fast-paced industries. iResource is a recruiting service that helps you find your perfect hire, consistently measuring the quality of potential candidates throughout the recruitment process.

iTesting

Having the tools to test ever-increasing amounts of data can be crucial within insurance and financial services. From software quality assurance and automation testing, to pen tests and stress tests, it’s key to make sure your data is safe from potential security hacks. What’s more, our testing tools can help you demonstrate any data issues that need to be fixed, as well as helping you to understand the data you have much more quickly than before.

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Discover all of our products...

As well as the products listed above, we also have many other products to improve your companies data quality & testing solutions. Explore the rest of our product suite below.

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Data Quality Engineering