As the volume of data which is required to complete regular processes within an Insurance firm increases, so does the challenge of being able to ensure data integrity and data completeness.
Auditors are increasingly insisting that businesses demonstrate data integrity and data completeness. This can be seen more prominently in other sectors of financial services, but the spotlight has started to focus on Insurance industry, particularly with the golive of IFRS 17 just around the corner.
In 2020 there is a significant opportunity for the Insurance industry to unlock the potential of the data available and change the somewhat frustrated historical relationships firms have previously had with their data. To do this, firms must embrace technology.
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