The expanding scope and reach of data is changing the way insurers succeed or fail in the marketplace yet many are not getting the message, according to Kevin Toth, vice president at Harleysville, a Nationwide Insurance company.

More directly, data management can no longer be considered merely a skill or function or a job. “When done correctly and embraced by the sophisticated insurer,” Toth said in his keynote address at the IDMA 2014 Annual Meeting and Seminar in Philadelphia this week, “data management is the basis on which we can compete in an industry that never changes.”

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