Reducing the cost of error: how to develop data accuracy skills
Mistakes in an organisation waste time, cost money and annoy clients. The time it takes to make, find and correct errors typically costs 80% of your salary bill - and that's before you even consider the cost of the errors themselves. 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 the loss of face!
You'll learn 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.
At the end of this event, delegates will be able to identify:
-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 C's" of accuracy
-how to ditch your "reading" skills in favour of accuracy skills when you work with data
Catherine de Salvo has been working with organisations to improve accuracy skills for more than a decade. As the co-founder of accuracy specialist publisher & training company Scott Bradbury, Catherine has worked with financial services organisations throughout the world, helping their people to "get it right first time, every time".
This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
1 hour's CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.