ACORD Expert Data Governance & Quality Management Flashcards
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Read the first 6 ACORD Expert Data Governance & Quality Management flashcards as text
Which practice helps ensure ACORD XML message quality before transmission to a trading partner?
Answer: Schema validation against the published ACORD XSD
Validating an ACORD XML message against its published XML Schema Definition (XSD) catches structural and data-type errors before the message reaches the recipient.
What is a 'data lineage' map and how does it support data quality in insurance?
Answer: A visual or documented trail showing the origin, movement, and transformation of data across systems
Data lineage documents every source, transformation, and destination of a data element, enabling insurers to trace errors to their root cause and demonstrate auditability.
How does the ACORD Data Standards Reference Architecture (DSRA) recommend organizing data domains?
Answer: By functional subject areas such as Party, Policy, Claim, and Finance
ACORD's DSRA organizes insurance data into subject-area domains (Party, Policy, Claim, Finance, etc.) to provide clear ownership boundaries and consistent definitions.
Which US regulation most directly drives the need for strong personal data governance practices at insurance companies?
Answer: NAIC Insurance Data Security Model Law (MDL-668)
The NAIC Insurance Data Security Model Law (MDL-668) requires insurers to implement an information security program including data governance controls to protect nonpublic information.
What is a 'data quality scorecard' used for in an insurance data governance program?
Answer: Measuring and tracking data quality KPIs (completeness, accuracy, timeliness) over time to drive improvement
A data quality scorecard quantifies quality dimensions for key data assets, providing visibility into trends and enabling governance teams to prioritize remediation efforts.
In ACORD's framework, what role does a 'data dictionary' play in supporting insurance data standards?
Answer: It provides authoritative definitions, formats, and valid values for every standard data element
The ACORD data dictionary defines each standard element's name, description, data type, allowable values, and usage context, ensuring unambiguous interpretation across organizations.