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How Data Can Help Communities Underserved by Insurance Industry
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Data is essential to helping businesses make smart decisions and industries from every sector are beginning to incorporate data into daily business transactions. However, according to Traffk Co-founder and CEO Paul Ford, if the data is incorrect, it can be just as bad, or worse, than not relying on any data at all.
Insurance is an essential safety net for many individuals and families, but many insurance policies are created based off of outdated legacy business models and systems.
Often, the data companies have access to is unorganized raw material that needs to be cleaned, rationalized and transformed before it can be used to make decisions.