by Mike Fleckenstein, Principal Analyst & Mehul Shah, Principal Analyst
Business Intelligence & Data Warehousing Practice
Project Performance Corporation

Master Data Management constitutes a ‘Golden Copy’ or ‘Single Version of the Truth’ of data most essential to an organization’s key business entities.  Given today’s regulatory compliance requirements and SOA tendencies it is highly important that data be defined and disbursed throughout the enterprise consistently.  To do this effectively a company must define its key data and govern how it will change. 

Insurers have the additional characteristics that they are regulated and data intensive and must thus guard their data well.  Allowing data to be defined and reside in paper files and the heads of underwriters holds insurers hostage and exposes them to high risk should experts leave the company.  Key data items, beginning with product, branch and customer can and should be standardized to optimize reporting and support accurate forecasting.

Read more on this white paper here.

 More information is available in PDF.