Ventiv Technology

Risk Management Software Deployment Your Guidebook to Success 14 Aon eSolutions share this guide Risk data quality: Checks and balances Risk data quality: Checks and balances No matter how well a database is designed, if the data itself is not accurate, it won't be worth much. That's why we put protocols in place that will monitor the integrity of data entering the RMIS. In terms of monitoring data accuracy, the concept of "balancing" is critical. A good data intake process must include methods for reconciling (or, balancing) numerous variables. The number of records in the RMIS should be balanced with the number of records in the source data. Likewise, there is also financial balancing, which ensures the risk management software is bringing in the correct dollar amounts and that they're adding up correctly. Large swings in data size or financials It's important to notice any unusual activity in data updates as well. This could indicate that something went wrong with the production of the file or that a change was made in the data source. Using custom automated controls designed for each individual data source, we can alert both our team and the client if unusual activity is received on a particular file. We can make sure that any changes in frequency or dollar swings are accounted for, investigated and corrected, if necessary. Establishing sound protocols We work with clients to determine the sources, volumes and formats of their data. We consult closely and then create custom balancing functions, both for the initial and the ongoing loads. Different clients can have very different historical data scenarios, from processing claims themselves using an in-house system to having multiple vendors that handle different claims sets. Or, a client may have one vendor doing the entire dataset, but they might have switched vendors from time to time. Or it could be a combination of those, as well. These clients benefit universally from a high-quality mapping process. It is a huge benefit to them to have all of their data aggregated into one spot, in a consistent format, and auto-checked for accuracy. The active import of the data is itself an audit of the data. The mapping process shows if there are any anomalies.

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