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How to bring decades of data into the 21st century

For many carriers, the database hasn't evolved in years. When it's time to update the data warehouse, here's what to do.

By Jon Mayo | Updated on December 27, 2016
For many carriers, the database hasn't evolved in years. (Photo: iStock)

In previous articles on the state of data in the insurance industry , I’ve  explored how companies operate and where insurance companies are missing opportunities. While these efforts are important in the long run for the health of a company, it’s also important to make sure that a businesses’ current data infrastructure is fully up to date.

So, how does an insurance organization determine if it has the right data to support its growing needs? For many insurance organizations, the database is something that has not evolved in years. In fact, for many companies, the technology and the processes that are used for tracking clients are based on systems from the 1980s when policy systems were first being used to automate the insurance industry.

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