On this Spot on Insurance episode, the CEO of ReFocus AI joins hosts Arleen and Ted Taveras to discuss what machine learning is all about and how ReFocus AI can help businesses better understand the data they collect. He shares his passion for learning languages and how he became interested in tech. He explains why the industry cannot utilize the data they have and how machine learning can streamline that process. Colby also describes why data isn’t a liability, explains why machine learning may not be for every insurance company, and shares tips in reducing the risks of cybersecurity breaches.
“We’re not at a Renaissance where companies are wizening up to the fact that the data they are holding is an asset; that it’s valuable.”
What you’ll learn:
- Why the insurance industry is underutilizing consumer data
- How Colby uses sushi as an analogy for sales
- The three key sales questions ReFocus AI answers
- Machine learning and what the future of sales will look like
- Educating owners and executives that data isn’t a liability
- Does artificial intelligence always provide value?
- Assessing the qualities of a machine learning engineer
- What we should be cautious about regarding AI
- How businesses can prevent ransomware from happening
- The security benefits of building a culture where it’s alright to make mistakes
- Colby’s advice to those who are struggling to find success in the industry
Key Takeaways:
- 80% of data within an agency management system is up to date.
- Ultimately, machine learning is not a silver bullet.
