Independent agencies, like every other business, are living in a data-driven world. The value of data — including how and when it’s used and for what purpose — continues to evolve. As the value of data to agencies continues to grow, so too is agents’ anxiety over the answer to a critical question: just who owns their agency’s data?
Of course, not all data is equal and not all data is good. There’s no denying that data in an agency is more valuable today than ever. So is the answer to the question of ownership.
There is a debate over the answer to that question and it can become messy, fast. For example:
“Who owns the data in an agency management system? It’s the insurance agency owner. Period,” according to Laird Rixford, CEO of Insurance Technologies Corp. (ITC).
“Actually, I think it’s the consumer’s data,” says insurance industry tech guru