Building a data-forward insurance culture

Last night, a diverse group of insurance leaders met to share their experience, mingle and talk change in the insurance industry. Featuring Christyn Yoast and Xu Cheng, we started off with a few stories about developing a growth mindset, leading from a service mindset and creating a breadcrumb trail to behavior change. As the circle of conversation expanded, here are some of my favorite take-aways:

• Doing something is better than nothing. Challenge your team to interact with data or AI in a way they choose - as long as they start.

• For small startups and new MGAs working with larger incumbents, find the mid-level decision maker who can approve your partnership without running it up the flagpole. If that means starting smaller, pare down - it’s more likely to succeed than going for that moonshot.

• Climate, climate, climate. We HAVE to explore new ways of addressing multi-peril risk in this country and there are great examples from around the globe.

• Are we a relationship business or a data business? BOTH. We must find ways to use data to foster relationships and must have the relationships to leverage the data.