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October 1, 2010

QBE deploys DataFlux technology to improve data accuracy

To support a systems consolidation programme allowing QBE analyse data in source systems for accuracy

By CBR Staff Writer

QBE, a provider of business insurance, has selected DataFlux technology to improve the quality of data within its European data warehouse and its data migration process for systems consolidation.

QBE will use DataFlux technology to standardise, improve and control data relating to its network of partner brokers, policies, claims and direct enterprise customer base.

The technolgy will enable QBE management to trust the results of data analysis and allow them to make improved business decisions based on more accurate data.

The DataFlux solution will be used to support a systems consolidation programme allowing QBE analyse data in source systems to identify and correct data inconsistencies prior to data migrations.

Solvency II regulation mandates that European insurance firms accurately report on financial results and liabilities as well as the processes used to measure capital adequacy.

The DataFlux platform provides QBE with a foundation to control business processes, data governance procedures and regulatory reporting.

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QBE European Operations managing director of change and technology Matthew Gouldstone said that at QBE, data management is viewed as a strategic priority.

"It’s important that our management teams are making the most effective decisions based on trustworthy data," Gouldstone said.

"DataFlux technology allows us to monitor and visually report on metrics relating to our data asset that are easily understood and trusted by our lines of business."

DataFlux EMEA managing director Colin Rickard said that Solvency II regulation mandates a data management framework must be in place by 2011, so time is running short for many insurers.

"By establishing metrics and reporting to its Information Governance Committee, QBE is taking a proactive and governed approach to managing its data," Rickard said.

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