Let's Talk Data: A Data Detox for Operational Effectiveness

Bad or missing data is like dirty data. Dirty data is any data that is inaccurate,incomplete, inconsistent, or otherwise unusable.

In the past, agencies didn't focus much on their data beyond the basic policy information (policy number, effective/expiration dates, etc.). But today, data quality is king!

Data is information. Information is data. And data and information have value. Great value in fact!

How does dirty data affect your agency?

First, it makes your teams work harder. They have to dig deeper to understand your clients.

Second, it makes third-party tools that rely on your data not work, or at best, work poorly. Examples include CRM and sales assist tools like Vertafore Client Communication, Agency Zoom, Agency Fuse, Donna, Avyst, Bridge, InsuredMine, and Levitate.

Finally, if you ever plan to sell your agency or seek investors, the quality of your data will directly affect your bottom line. If you have great data quality, you'll get the best terms. If you don't have great data, your value will be lower.

How to recognize that you have less than great data:

  • Do you have reports with lines/rows that have zero values on them?
  • Do you not trust your financial reports?
  • Do you have policies showing as active that are past their expiration date?
  • Do you have active customers with no policies?
  • Can your team understand their clients and what has been happening on them?
  • Do you have missing email addresses, phone numbers, or policy details?
  • Can you organize your customers by revenue, class of business, or relationships?

If you answered yes to at least one of the above questions, you have less than great data quality.

How to fix this situation:

Recognize where you are missing data or have less than great data.

Determine the root cause of that situation.

Fix the root cause and implement improved processes going forward to prevent the situation from continuing.

Determine how to correct the data that has already been affected.

Routinely review your data to make sure you have corrected the process.

Data Detox is not a one-time event. It is an ongoing process that should be part of your regular AMS360 maintenance routine.

There are a number of different data detox strategies that you can use. The best approach for you will depend on your agency's specific needs and resources.

It is important to involve your entire team in the data detox process. Everyone who uses AMS360 should be aware of the importance of data hygiene and their role in maintaining it.

Help is Available!

IAAA can help your agency take control of your data with an AMS360 data Detox process.We'll show you where dirty data exists, discuss the root causes, and help you get started on cleaning the data so that your agency can gain independence from dirty data!

Register for a private 2.5-hour session for $225.00 (discounted from $437.50). You can invite multiple people on your team to participate.

This session will focus on customer-level data.

Register for your private 2.5-hour session today to learn more about how to improve your data quality and gain independence from dirty data!

Space is limited, so register today!