{"id":11685,"date":"2013-11-19T11:50:20","date_gmt":"2013-11-19T16:50:20","guid":{"rendered":"https:\/\/www.resourcepro.com\/managing-numbers\/"},"modified":"2024-07-15T10:13:32","modified_gmt":"2024-07-15T14:13:32","slug":"managing-numbers","status":"publish","type":"post","link":"https:\/\/www.resourcepro.com\/blog\/managing-numbers\/","title":{"rendered":"Managing by the Numbers"},"content":{"rendered":"

In early November ReSource Pro hosted our second Insurance Innovation Advisory Council event of the year. The theme was \u201cmanaging by the numbers\u201d. Speakers Jag Dalal and Ashwin Rangan shared insights and experiences about successfully managing by the numbers.<\/p>\n

The key to successfully managing by the numbers is to first know what we want to achieve. Once we know our goal we can then determine the metric needed to measure our success. \u201cWe start with a goal to determine the metric and use the metric to achieve the goal<\/span>.\u201d<\/p>\n

Not all metrics are created equal<\/b><\/h2>\n

There are several dimensions to a good metric. In order for a metric to have meaning it must be relevant to the goal. You need to laser focus on your desired outcomes then determine the metrics and processes around them. If the goal is to write profitable accounts, the total number of quotes issued is probably not the best metric for achieving this goal.<\/p>\n

A metric needs a reference point – one measurement alone doesn’t tell us much. The measurement must be compared with something else such as time.<\/p>\n

A good metric is:<\/p>\n