Filed Under:Annuities, Sales Strategies

How big data insights translate to personal connections

At first glance, insurance sales and big data may seem to be at opposite ends of the spectrum. The former is a personal business, built on established trust and mutual understanding. The other, when applied improperly, adds up to nothing more than a bunch of numbers.

Customer Relationship Management activities have grown increasingly sophisticated, but remain focused on the capture and use of internal data, or data that is within a closed sales and service process. When the term “big data” was first introduced to the insurance world, many thought that it had to do with the massive amounts of data housed in legacy insurance applications. To be sure, there was and still is a lot of valuable data in old systems. However, “big data” is an expansive term that relates to all of the data that is created and available external to and outside the firewall of insurance companies. Think of all the financial, legal, and personal information that is “out there” in various systems that is readily available. When viewed in this light, there is a plethora of data and information that the savvy insurance marketer, agent, advisor, broker, or carrier has available to build business. Throw in analytics and it makes the whole topic of big data even more interesting.

Featured Video

Most Recent Videos

Prospects not listening to voice mail? Arrange a phone date


Redesigning your phone life is more important than finding the “best words” for a voice mail in today’s culture.

Behind the scenes with Vicki Gunvalson [VIDEO]


In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI


Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's


An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Related resources

More Resources


Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.