Reducing the cost of error: how to develop data accuracy skills

One reinsurance company paid out £70 million instead of £7 million because the decimal point was in the wrong place. The money was eventually returned but because the money had been paid out in Brazilian Reals there was a significant loss due to currency exchange rate fluctuations - not to mention loss of face!

But it's not these huge mistakes which waste the most money; it's the everyday 'small' errors, which mount up and become a huge drain on resources. By learning how to reduce errors, you save money, boost productivity and increase efficiency too.

This event will explain why mistakes happen and how to develop practical, effective accuracy skills to enable you to read, check and transfer information correctly. You'll find out why our reading skills work against us when it comes to working with data and you'll experience working at the optimum speed for accuracy - which will probably be faster than you think! You'll even complete a fun 'insurance data' test too, to help you measure your own accuracy rate!

Learning objectives:

After attending this event, the delegate will be able to identify and apply the following:

• why all human beings make mistakes;

• how to demonstrate practical techniques for reading, checking and transferring data accurately;

• how to calculate the 'back-of-envelope' cost of data error in your organisation;

• how to describe and apply the 'three Cs' of accuracy;

• how to ditch your 'reading' skills in favour of 'accuracy' skills when you work with data.

How to book

There are still places available so please email your name and CII/PFS pin number to jacqueline.hancock@prescott-jones.co.uk as soon as possible to secure your place at this event.

Our talks are free of charge and are open to Institute members and non-members who are engaged in the Insurance Profession (General, PFS, Claims or Loss Adjusting).

We meet at 5.30pm in the bar with the talk starting at 6.00pm until approximately 7.00pm in one of the first floor meeting rooms. Following the talk there is always an opportunity for networking back in the bar.

About the speaker

Laura is Scott Bradbury's Accuracy Sales Consultant. She visits organisations to discuss their accuracy training needs and provides demo and taster sessions of their training programme Developing and Eye for Accuracy. Scott Bradbury has been working with organisations throughout the world to improve accuracy skills for more than a decade.

Mistakes in your organisation waste time, cost money and annoy customers. The time it takes to make, find and correct errors typically costs 18-20% of your salary bill - and that's before you even consider the cost of the errors themselves.