Report of the data quality working party (2006)

Document description

The Data Quality Working Party was formed because of the view that data quality issues significantly impact the work of general insurance actuaries; and such issues could have a material impact on the results of general insurance companies.

•In this paper we will

• describe some actual data quality disasters in non-insurance and insurance businesses;
• present the results of a data quality survey of practicing actuaries in the United States, Canada and Great Britain;
• present the results of a data quality experiment where data was altered to change its quality and the effect on analyses using the data were observed; and
• provide advice on what can be done to improve the state of data quality.