You’ve probably heard the saying many times already – “Data is the new gold!” And it’s true. Though of course not everybody loves data in the same way that people love gold in all its shiny allure and opulence.
But, like gold, data isn’t valuable in its raw state. To obtain value from gold, it first needs to be processed – fashioned into jewelry or minted into coins. Similarly, data collected in isolation has no value, it first needs to be manipulated and analyzed to extract business value.
As such businesses all over the world across industries are going ahead to not only collect data but to make sense out of it. The misconception here is that it is extremely costly for one to analyze data and therefore it is only reserved for large businesses that are able to set aside the resources for it. The good news is that with technology today, even insurance agents who are self-reliant in their business are able to leverage on data insights without shelling out a bomb for it.
Although, data has a shorter history than gold, but it holds a much greater impact on global businesses of all sizes in the future. We have already witness companies such as Google, Facebook, Amazon & Uber that have already figured out how to collect and use data to outperform their competitors.
Therefore, as insurance agents, you should start amassing data of your clients and prospects and at the same time invest in technologies and the people who can connect it, analyze it, and extract value from it. Only this way will you be able to make informed decisions that will future-proof your insurance business. We believe with Insuree, this is made possible for you.