Happy Wednesday! In this week's Big I Buzz we have news about what sports analytics & insurance have in common and a new way to get involved with the IIAW.

In 2002, the Oakland Athletics were an underdog to long-standing industry titans like the New York Yankees and San Francisco Giants. The odds were stacked against the franchise, but the A’s were still intent on trying to win. To do so, they had to get creative and consider defying convention.

What does this have to do with insurance? Every industry starts somewhere with data.

What General Manager Billy Beane and Assistant General Manager Paul Depodesta (“Peter Brand” in the movie) unlocked was the true power in the data as it came to the object of the game — scoring more runs than the opponent. The vast majority of what they believed in aligns with conventional wisdom (home runs are good), but some of it did not and it was in those margins, through the data, that Oakland won.

Twenty years later, we have reached commercial insurance’s Moneyball era. Like baseball, insurance is also a tremendous generator and consumer of data, with some information dating back more than a century. It has legacy titans and legacy thinking that are ripe for disruption. It even has “losses.”

There are three ways commercial insurance is primed for its Moneyball era. 1. The principle of 'one number'. 2. Every attribute matters. 3. Start with the box score. 

You can read the entire article here!

Get Involved with IIAW's Task Forces & Councils 
Educate • Network • Plan

The IIAW is excited announce new Task Forces and Councils! Each Task Force or Council will have 3 virtual meetings per year and act as a sounding board for planning IIAW education, events and other member benefits.

All agency employees and the following Supporting Company Members: Silver, Gold, Diamond & Exclusive are welcome to participate in one or more groups!

Learn more here!

2022 Sales & Leadership Summit

Who: Insurance professionals, agents, company and other industry employees.
When: August 23-24th, 2022
Where: Bridgewood Resort Hotel & Conference Center, Neenah, WI

MarshBerry instructors will deliver an action packed 1.5-day workshop filled with fantastic topics you won't want to miss!  Our 2022 Sales & Leadership Summit will be led by Don Folino, MarshBerry Sales Performance Consultant, and Eric Kuhen, MarshBerry Senior Strategy Consultant. Register Here!