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August 17 2016 | Deb Smallwood

I love watching the Olympic Games and Rio 2016 has been no different. The fanfare, the stories of the athletes, and of course the competition. It is a showcase of the absolute best in sports and it I think the Games teach us things about our place in the world … sometimes the world can seem so large and daunting and in some part, the Olympics makes it feel a little smaller and more accessible. How does my fascination with the Olympics relate to insurance?

butterfly02Today, competition is not only the art of sports but the science. Similarly, insurance is a science too. In the Olympics we are seeing fewer of those Cinderella stories – the classic come from nowhere victories – because data, tools, and analytics around the leading athletes in each sport can almost predict outcomes for some events.

This holds true for insurance as well. Outcomes are predictable thanks to data and analytics. Risks can be mitigated. Investments in sound technology can set a company apart from the competition.

Everyone knew Michael Phelps was the best in the 200-meter butterfly event before he entered the stadium. He had the track record, of course. But a step further, he and his coaches had a specific game plan before, during, and after each race. He had each lap memorized, stoke counted, kicking techniques and timing of turns calculated. His coaches had his stroke speed analyzed, his kicks per minute, and his breaths and efficiency ready. Data around performance is transforming the way athletes are coached and improving all around performances.

The same is true for insurance. With a sound game plan of data and analytics around product, pricing, underwriting, and even claims, an insurer can really differentiate itself from the rest of the pack. 


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To learn more, please contact:
Deb Smallwood
Founder & CEO
Strategy Meets Action
603.770.9090