InsureTech Connect has 12,694 followers on LinkedIn, and the Insurance Data Management Association has 298

From my LinkedIn poll in February 2022

Data Management is not sexy, and that’s a shame.

I wonder - would the P&C insurance industry get more value if we focused more on data management and less on AI?

In my poll on LinkedIn last week, I asked readers what their biggest pain point was in getting value out of advanced analytics. 70% of you said getting clean data. That’s 42 out of the 62 who voted. Those 42 were spread across personal and commercial lines carriers, reinsurers and brokers, so the problem is pervasive.

How do you know if you should focus more on your data? Here are some questions, and if you don’t like the answers, then you might want to put more focus on your data strategy.

1. Can you monitor your underwriting actions on a daily basis?
2. Can you easily see all the products you have with a single customer?
3. How much time do your data scientists spend on cleaning data?

How did you do on these questions? How are you investing in data in your organization? Does it have the attention that it deserves? Please comment