Here are some things to consider before choosing a system:
- Does the agreement specify a minimum term of use?
- How much notice are you required to give before leaving?
- Can you create a backup of your data in the system at any time?
- How much does the vendor charge for providing a copy of your data if you leave, and how quickly will they provide it?
- What format is the data provided in, and is it easy to manipulate or convert to another system?
- If you are bringing past data to a new vendor, how much will they charge to convert the data, and how long will it take?
3. Does the vendor allow you to integrate your data with other platforms?
Another important part of data ownership is the ability to connect your client data with other systems that help you run your business, such as marketing automation, review management, raters, and more.
One of the best ways technology vendors can facilitate access to client data for other platforms is through API integration. Vendors who offer API integration with a variety of systems demonstrate that they are committed to meeting all the needs of an agency—not just the ones solved by their product.
The quality of a vendor’s API partners is just as important as the quantity offered, since the partner will be accessing your policyholders’ data too if enabled. Look for vendors who thoroughly vet their partners and hold them to data practices that are fair to the agency.
Data is Value
Data ownership is an area where it’s imperative for your agency’s values to align with your technology partners’. Finding partners that respect your agency’s data can mean the difference between maintaining ownership of one of your agency’s most valuable assets and giving it away for free.
