InsurTech Hartford Community Spotlight: Louis DiModugno, the Bowtie DataGuy

Meet Louis DiModugno: an insurance trailblazer with over two decades of experience in data and analytics. This month, InsurTech Hartford would like to shine a spotlight on Louis’s journey, from a distinguished career in the United States Air Force to his current persona as "The Bowtie DataGuy." Throughout his journey, Louis has been instrumental in establishing data strategies, fostering creative problem-solving, and guiding the InsurTech sector toward a dynamic and data-centric future.

In this interview, Louis provides insights into his philosophy of balancing structure and flexibility, his experiences in devising creative solutions to complex problems, and his vision for the future of the insurance industry.

1. Tell me about yourself for people unfamiliar with you and your work.

I’ve been consulting or performing as a Chief Data and Analytics professional for the past 20 years.? Twelve years ago I hung up my military uniform (retired USAF Colonel) and adopted the bowtie as my new uniform (The Bowtie DataGuy).? Along with staying on top of the latest in data and analytics technology I support organizations as a Fractional CDO to establish data strategies and execution roadmaps.? My work in this area stretches from data ETL and data fabric through data governance, master data management, virtualization, visualization and generative AI.

2. How do you balance the need for structure and process with the freedom and flexibility required for creative thinking?

Structured frameworks are very helpful in establishing a data strategy but every organization is different and so having the ability to be flexible in designing technology solutions as well as the implementation timing to support strategy objectives is imperative to creating tactical value and foundational technology elements.?

3. Can you share an example of a time when you had to devise a creative solution to a complex problem??

Utilizing flexible tools in your solution stack allows for pivoting to take advantage of opportunities when they arise. By incorporating elements like virtualization, this allows for experimentation and proof of concepts to be corroborated before committing to the data architecture. I’ve had the opportunity a couple of times to use virtualization to bring together data sources and prove the data element inclusion in increasing the lift significantly of models.

4. What industry trends are you following? How do you see these shaping the future of insurance???

Digital transformation continues to be a highly invested area for insurance carriers and Large Language Models (LLM) are the latest areas for exploration.? What’s great is I believe they compliment each other.? LLMs are data hungry and always looking for proprietary elements that can hone their output and digital transformation efforts allow for the additional collection of new and proprietary data in native digital formats. By optimizing the data collection and using LLMs in customer interactions there will be a movement towards complete self-service of comparing, purchasing, servicing and claims interactions.

5. What are your current career goals? How has InsurTech Hartford contributed to this journey???

I am most passionate about continuing to learn about technology capabilities and how they will help to improve insurance processes. I work in a number of board and advisory positions that assist companies in the industry and capabilities necessary for next generation insurance buyers.

Insurtech Hartford has brought together innovative thinkers and new vendors/capabilities which are looking for partners to explore value propositions.? With the advent of a new generation of insurance leaders, the connection that Insurtech Hartford instills in the community has been paramount.? As “digital natives” become decision makers their expectations need to be managed as insurance processes continue to change and the leadership to make this change happen is being fostered with Insurtech Hartford.?

6. Where do you see yourself in 2 years?

Having been focused on data and analytics for the past 20 years I see myself focusing more into the technology and IT areas.? These areas are vital to the management of data and exploitation of the accurate, secure and controlled information to be available for crucial decision making.? I also see change management as a crucial component for all aspects of migrating to a future state.? My experience in managing change and comprehensive communication will be put to the test for organizations that are looking for ways to ensure their investments are implemented appropriately and delivering on their projected ROI.

7. What advice would you give to individuals or teams looking to enhance their creative thinking and problem-solving abilities?

The number one thing I would say is to “challenge each other”.? Don’t be happy with the status quo.? All capabilities can be improved whether it's focused on efficiency (delivering with less resources) or effectiveness (creating a better customer experience).? Improvement comes from the change and optimization of process, technology or even the people. ? Simple reads like “A Whack on the Side of the Head” by Roger von Oech or “Better Thinking, Better Results” by Bob Emiliani can really energize an organization if you share the learnings.

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In concluding our insightful conversation with Louis DiModugno, it becomes evident that his unwavering commitment to data-centric strategies, coupled with a profound understanding of how to harmonize structure and flexibility, showcases the vital role of innovative thinkers in shaping the future of insurance.

As we look to the future, it's clear that Louis's passion for technology and his dedication to improving insurance processes will continue to drive meaningful change in the industry. With the ongoing digital transformation and the convergence of Large Language Models (LLMs), the insurance landscape is poised for a revolution. The potential for self-service customer interactions, from comparing and purchasing to servicing and claims, is no longer a distant dream but a tangible reality on the horizon.

Louis's experiences and insights serve as an inspiration for individuals and teams looking to enhance their creative problem-solving abilities. By challenging the status quo and embracing change, organizations can unlock their full potential in the ever-evolving world of InsurTech.

Stay up to date with Louis and connect with The Bowtie DataGuy on LinkedIn.