COVID-19 has accelerated guidance (or suggestions or recommendations) for insurers to accelerate their initiatives to reshape their various business, financial, and customer-facing operations to 'be digital.' I have a hunch that what has actually accelerated is the 'doom-and-gloom' wailings from analysts, consultants, journalists, and technology firms to their insurance company clients and prospects (rather than… Continue reading The insurance industry is replete with archipelagos
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What (Insurance) Customers Want
What do customers want? I suggest that customers want to: find if a company sells the product or offers the service that they need at the moment quickly and easilypurchase the product or service they want from a company quickly and easilyconsume service related to the product purchase or use of the service quickly and… Continue reading What (Insurance) Customers Want
Evolution of Satisfying Personal Inquisitiveness
Just a look-back and look-ahead of some of the ways that people might have had and will have their own personal inquisitiveness satisfied through the decades.... Ask your mother; ask your father Look it up in the dictionary; look it up in the encyclopedia Go to the library Ask your teachers Ask your colleagues at… Continue reading Evolution of Satisfying Personal Inquisitiveness
A Gaggle of Pictures from our Santa Fe Home
No descriptions ... just pictures taken with one of our iPhones or iPads. There are pictures that seem to be cropped on the bottom: that's because I was dumb enough not to take the device out of its holder.... (We have a 'coyote fence' and this little bunny found a way into our backyard under… Continue reading A Gaggle of Pictures from our Santa Fe Home
Location of Insurance Work & Associated Technology Frameworks
Just noodlin' out loud in a blog post about where insurance work gets done and what one or more technology frameworks make sense to support the work: Only or mostly within one functional department within the insurance carrier Value Chain / Point Solution Mostly across two or more functional departments within insurance carrier Value Chain… Continue reading Location of Insurance Work & Associated Technology Frameworks
Tesla Insurance Company Will Just Be Another Player in the US Auto Insurance Marketplace
I continue to have no idea what 'disruption' in insurance would look like. Every insurance company must adhere to the insurance regulations in each jurisdiction they conduct commerce. Every auto insurance company can only succeed - that is generate profitable premiums - by meeting, if not exceeding, the metrics of the auto insurance line of… Continue reading Tesla Insurance Company Will Just Be Another Player in the US Auto Insurance Marketplace
Some realities of a ‘Tesla Insurance Company’
A Tesla Insurance Company will make the term ‘niche’ seem gargantuan. However, as a researcher, it will be interesting to read about the losses, loss ratios, and combined ratios as they mount up in this extremely small auto insurance segment. The Loss Development Triangles will be extremely interesting reading. And the IBNR: more than 'extremely… Continue reading Some realities of a ‘Tesla Insurance Company’
A few questions to think about when new players enter the insurance industry
Tesla is in the throes of launching (sorry about that) an insurance carrier. Amazon has entered the insurance market in India as an insurance broker Some questions that folks involved with the insurance industry might want to consider before getting excited or running off to the hills screaming in fear about any new entrant: what… Continue reading A few questions to think about when new players enter the insurance industry
The Monster Under the Bed
Or the monster crawling from under the bed to snatch your children away and run into its hiding spot in the woods where the children will be eaten. No, not a fairy tale. Far too many people use Amazon and its potential to enter the insurance industry to eat incumbent insurers' client base, market share,… Continue reading The Monster Under the Bed
Inevitabilities
They say that hindsight is 20-20. I'm thinking of technology (and technology application) inevitabilities. Back in the early 1970s when I got back to the insurance industry after serving in the US Army and subsequently going to graduate school I knew, I just knew, that it was inevitable that there would be a fusion at… Continue reading Inevitabilities
