Data Quality Analysis

 

The most effective way to assess and enhance your portfolio-level or contract-level catastrophe exposure data is to use Touchstone's Data Quality diagnostics. These diagnostics enable you to determine the strengths and weaknesses of the exposure data you are using for analyses and even supplement that data when it is missing or weak.

The diagnostics are fully customizable, enabling you to approach exposure data enhancement based on your individual underwriting strategy and business needs. Through rich graphics and maps, they provide high-quality and flexible capabilities for providing reports about exposure data to internal and external audiences.

To understand and then improve exposure data quality, run Data Quality Analyses on your portfolios or contracts using any or all of the following diagnostics:

         Validation and Scoring: Validation and scoring enables you to evaluate and quantify the completeness and reasonability of property location data, primary and secondary risk characteristics, and replacement values within a portfolio. You can run this diagnostic in Portfolio Mode or Underwriting Contract Mode.

         Benchmarking: Benchmarking enables you to compare your exposure data to industry data based on lines of business, construction types, and occupancy types. It also enables you to view or export industry exposure data. You can run this diagnostic in Portfolio Mode.

         Augmentation: Through configurable rules, augmentation adds property-specific building information to your portfolio when the data is missing or when confidence in the data is low. You can augment building location, property value, and primary and secondary risk characteristics by using trusted data from AIR's Property-specific database, or you can update data using user-specified values. You can run this diagnostic in Portfolio Mode.

       By default, Augment evaluates consistency of your exposure data with the data in AIR's Property-specific database and includes a summary of the results; this information gives you a better idea of your exposure data quality even if you choose not to augment the data. If you want more than a summary, you can select the option to include data consistency details.

  You can run all Touchstone Data Quality diagnostics on locations in the United States. You can run Validation, Benchmarking, and Augmentation (with user-specified values) diagnostics on locations in countries that are supported for the AIR Extratropical Cyclone Model for Europe.

Users with administration privileges can also perform the following Data Quality Analysis-related tasks:

       Establish one or more Data Quality Analysis templates. For more information, see Data Quality Analysis Template.

       Configure and set defaults for items affecting Data Quality and validation. For more information, see Data Quality (Administration).

 

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Touchstone V3.0 Updated December 01, 2016