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International Journal of Scientific & Technology Research

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IJSTR >> Volume 4 - Issue 9, September 2015 Edition



International Journal of Scientific & Technology Research  
International Journal of Scientific & Technology Research

Website: http://www.ijstr.org

ISSN 2277-8616



Application of Six-Sigma for Data Quality Improvement in an Insurance Company

[Full Text]

 

AUTHOR(S)

Mohit Panwar

 

KEYWORDS

Index Terms: Data quality, Insurance data management, Six sigma for data, Data Augmentation

 

ABSTRACT

Abstract: Billions of dollars annually is what poor data quality costs Insurance businesses, according to the Data Warehousing Institute. Poor data is also the leading cause of many IT project failures. Many companies are designing their data management programs and quality initiatives to deal with this problem of erroneous and inconsistent data. This paper discusses these topics as well as those detailing how companies can improve their data quality using the quality improvement technique of applying Six-Sigma. The method of creating a new initiative for identifying, measuring and controlling the data errors is discussed in this paper. Finally, the paper ends with a conclusion and expected results and benefits of the technique. The insurance industry is data-dependent. Today, carriers and intermediaries are engaged in improving data capture to help them to better manage their business, manage their risk and know their customers. Business and regulatory drivers are pushing the industry to manage its data better.

 

REFERENCES

[1]. Jonathan G. Geiger “Data Quality Management" - Paper 098-29, Intelligent Solutions, Inc., Boulder, CO

[2]. Charles Mckinney ‘Six Sigma and Data Quality’ – www.isixsigma.com

[3]. Puneet Bharal and Hamir Alform -"Making Sense of Big data in Insurance"-, Marklogic Inc. 2012

[4]. The data Warehousing information center- http://www.dwinfocenter.org/errors.html

[5]. S. Thomas Foster ‘Managing Project quality’ Fifth Edition -, Brigham Young University 2013

[6]. Timothy J. Kloppenborg and Joseph A. Petrick -“Managing Project Quality”, (Management Concepts, 2002)

[7]. A Guide to the Project Management Body of Knowledge, Fifth Edition, (Project Management Institute, 2013)

[8]. International Business Machines Ltd. Official Website http://www.ibm.com

[9]. "Customer Data Quality – How to Measure it, Improve it, and Make it Stick" - EMC corporation.Six-Sigma – Wikipedia.org

[10]. Data Quality Assessment, written by Arkady Maydanchik.