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Ep. 239: The Underutilization of Data

Shownotes

Colby Tunick is the CEO and Founder of ReFocus AI, an enterprise sales platform for insurance professionals powered by artificial intelligence. ReFocus AI provides solutions that boost sales by using machine learning to analyze and understand data better than any human. Before founding ReFocus AI, Colby was also the Training Coordinator at the California Earthquake Authority and a Consultant and Grant Writer at DME Business Solutions. 

This episode is brought to you by:

Insurance Licensing Services of America (ILSA), America’s premier regulatory compliance experts. To learn more visit ILSAinc.com.

Colby joins us 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.”

Colby Tunick

What you’ll learn:

  • Where Colby’s passion for tech and software stemmed from
  • Colby’s love of different languages
  • How Colby joined the insurance industry and the opportunities that paved his way
  • Why the insurance industry is underutilizing consumer data
  • Why Colby initially wanted to become a politician in his youth
  • 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.

Resources Mentioned:

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