Summary:

In this episode of Insurance Unplugged, Lisa Wardlaw interviews Lindsey Strong, Chief Product Officer of Irys InsurTech, discussing the critical role of data quality in the insurance and distribution landscape.

They explore the challenges of traditional data management, the importance of continuous data quality improvement, and the innovative solutions Iris is implementing to enhance data quality through AI and user-centric design.

The conversation emphasizes the need for the insurance industry to treat data as a valuable asset and to invest in technologies that support ongoing data quality management.

Takeaways:

Data quality is essential for effective insurance distribution.

Poor data quality leads to inefficiencies and missed opportunities.

Data should be viewed as an asset to be protected and valued.

Continuous monitoring of data quality is crucial for operational success.

AI can automate the identification and resolution of data issues.

User-centric design is key to effective data management solutions.

Master data management is necessary for harmonizing disparate data sources.

Integrating CRM with data management enhances client servicing.

The future of data quality will be increasingly automated and interconnected.

Investing in data quality tools is vital for maintaining a competitive edge.

Sound Bites:

"Data is the lifeblood of being able to do anything."

"Data quality is not a one-time project."

"We should be scaling in ways that are beneficial to us."

Keywords:

data quality, insurance, distribution, AI, technology, Irys InsurTech, master data management, automation, CRM, insurance industry