Although insurance companies have always based their management decisions on information about exposures, risks and customers, the entry into force of Solvency II in 2016 represented a key incentive to progress from informal data quality management to a more structured approach. Today, while the crisis triggered by COVID-19 is still unfolding and the digital revolution keeps accelerating, good quality information is more central than ever for marketing, pricing, underwriting, reserving, management control, claims management and risk management. Building upon a CRO Forum survey, the paper takes stock of data quality management practices in the insurance sector and proposes a way forward. As a result, aligning data initiatives with business objectives, measuring the value of data-related projects, implementing data quality-by-design, and striking the right balance between under-governing data and pushing the organization to work around intransigent rules are all emerging factors for successful data management. CROs can help protect and enhance corporate value generation by driving the integration of risk management into data management.

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