Podcast: The Building BITE
Season 2 Episode 12: Yielding Positive Results in the Industry Through Qualitative and Quantitative Data
Please tune in to this episode of The Building BITE Podcast as we hear from industry experts about key topics to help you be successful. The Building BITE hosts Chris Epps, PSP, LEED AP and Mike Diercksen, CRIS, welcome Adam Denno of Willis Towers Watson’s Default Insurance Group (DIG).
Adam leads off by sharing his professional growth and early interest within the data and analytics space, which eventually led him to the construction industry and the Con-Tech Insurance space. Then, equipped with significant resources within the DIG team, Adam expands upon his desire to dig deeper into the data and help his Insureds be better positioned to grow with the evolving market needs and opportunities that this data provides.
Diving into the topic at hand, Adam proceeds to identify his three takeaways on maximizing the effect of qualitative and quantitative data:
- Access to Accurate Data is Critical: In this ever-expanding world of data and analytics, it is not just about how much data you can collect but what data you are collecting. These expanding opportunities are key to the industry’s growth; however, if you are not careful, you can dilute their impact by not identifying and focusing on the best for your business.
- Technology is Evolving: Evolving technology will only continue to expand the universe of what we can track and integrate into our risk models. Keeping an open mind to new solutions or technologies will better equip you to keep pace with your competition.
- Invest in People – Leading Contractors, Brokers, and Carriers invest in People, Programs, and Processes to ensure timely access to data and resulting analytics. Data is great, but firms are likely to struggle with their data implementation without the right team in place to monitor and implement that data in a meaningful way. This is also a way to level the playing field for smaller to mid-sized firms, as deploying the right team creates a more agile approach and can give you the advantage when bidding for work.
To learn more about planning for success, listen to our full podcast episode with Adam Denno, Yielding Positive Results in the Industry Through Qualitative and Quantitative data.
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View Willis’s website at Willis Towers Watson
Connect with Mike Diercksen