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[Podcast] Mark Breading – Business Intelligence Is Changing the Game

June 03, 2015

by Applied Communications
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Mark Breading HeadshotGuest: Mark Breading, Expert in Advanced Technologies for Insurance
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Length: 14:54

Mark Breading, partner at Strategy Meets Action and a recognized expert in advanced technologies, has more than 30 years of insurance and information technology experience and is known for his perspective on innovative uses of technology in insurance. In this podcast, Mark provides insight into Strategy Meets Action’s recent “Maturing Technologies Report,” which highlights that more agencies are adopting business intelligence (BI) tools to promote growth and transformation of their business than ever before. He discusses key trends driving business intelligence adoption, including greater system integration, expanded insights and advanced analytics, and explains how BI solutions can give you critical insights to help your business get ahead.

“I truly believe agencies that don’t invest in BI and try to run the business the way it’s always been run, are going to be at risk.”
–Mark Breading

In this podcast, Mark answers these questions around business intelligence:

  • (00:20) What business intelligence trends are you currently seeing within the insurance industry? Do you think that these trends have any implication on independent agencies?
  • (02:41) You reviewed survey findings last year regarding independent agencies and their adoption of BI tools. Since last year, have you witnessed any sort of increased adoption of BI tools?
  • (04:18) Are there any specific hurdles agencies are going to need to overcome to implement BI strategies?
  • (08:03) What key business insights can agencies gain through BI tools beyond the traditional reporting capabilities?
  • (10:51) How do you think agencies leverage BI tools to enhance their competitive value?

 

Jun
30

I love how Mark stresses that organizations can gain insights from internal operations as well as customer and market facing areas (around 8:20). Your BI can tell you more than just what your customers are (or aren’t) buying. Often there are opportunities or areas in need of improvement internally, and big data helps to map out where these areas are.

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