Digital Insurance Pint: Benchmarking with Brett Boadway

In this episode, the DIPP crew discuss benchmarking in the insurance industry with IBAO COO Brett Boadway. They cover topics such as metrics for sales, measuring efficiency, customer sentiment, and colleague satisfaction. The conversation explores various metrics used in the insurance industry and how they are measured. Key criteria include employee satisfaction, carrier relationships, transaction costs, tools and systems for measurement, lagging vs leading metrics, and understanding good metrics. The conversation explores the importance of benchmarking and increasing participation in benchmarking programs. It discusses the challenges in getting brokers to participate and the current participation numbers. The potential for expanding benchmarking nationwide is also considered. The benefits of benchmarking and collaboration are highlighted, emphasizing the value of comparing data and staying ahead of industry trends. The conversation concludes with a call to action for brokers and insurance company personnel to participate in benchmarking programs.